UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 13,365,317 Shares of Lam Research Co. (NASDAQ:LRCX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Lam Research Co. (NASDAQ:LRCX) by 6,383.5% in the 4th quarter, Holdings Channel reports. The firm owned 13,574,691 shares of the semiconductor company’s stock after acquiring an additional 13,365,317 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Lam Research were worth $980,500,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Lam Research by 892.7% in the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock valued at $8,724,498,000 after acquiring an additional 108,619,564 shares during the period. FMR LLC lifted its stake in Lam Research by 1,032.6% in the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock worth $2,891,453,000 after purchasing an additional 36,496,689 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Lam Research by 950.5% in the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock valued at $2,495,128,000 after purchasing an additional 31,255,726 shares during the period. Geode Capital Management LLC grew its position in shares of Lam Research by 907.1% during the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock valued at $2,265,610,000 after purchasing an additional 28,307,499 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Lam Research in the fourth quarter worth $1,661,672,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Trading Down 0.7%

NASDAQ:LRCX opened at $83.82 on Tuesday. Lam Research Co. has a 12 month low of $56.32 and a 12 month high of $113.00. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average price of $72.50 and a 200-day moving average price of $75.53. The stock has a market cap of $107.22 billion, a price-to-earnings ratio of 25.46, a P/E/G ratio of 1.47 and a beta of 1.64.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The business had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the previous year, the firm posted $7.79 EPS. The business’s revenue was up 24.4% on a year-over-year basis. Equities analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several recent analyst reports. Mizuho boosted their target price on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. TD Cowen decreased their price objective on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. UBS Group cut their price target on shares of Lam Research from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of Lam Research in a research report on Thursday, April 24th. Finally, B. Riley reiterated a “buy” rating on shares of Lam Research in a research report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $91.56.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the transaction, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. This trade represents a 38.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

Lam Research Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.