Lam Research Co. (NASDAQ:LRCX) Shares Bought by Amundi Pioneer Asset Management Inc.

Amundi Pioneer Asset Management Inc. boosted its position in Lam Research Co. (NASDAQ:LRCX) by 563.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,043,217 shares of the semiconductor company’s stock after purchasing an additional 885,862 shares during the period. Amundi Pioneer Asset Management Inc. owned approximately 0.70% of Lam Research worth $186,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its stake in Lam Research by 88.0% in the fourth quarter. FMR LLC now owns 6,652,531 shares of the semiconductor company’s stock worth $905,875,000 after buying an additional 3,114,393 shares in the last quarter. American International Group Inc. raised its stake in Lam Research by 1,921.2% in the fourth quarter. American International Group Inc. now owns 2,848,583 shares of the semiconductor company’s stock worth $387,892,000 after buying an additional 2,707,651 shares in the last quarter. Norges Bank purchased a new position in Lam Research in the fourth quarter worth $215,477,000. Bank of New York Mellon Corp grew its holdings in Lam Research by 19.6% in the fourth quarter. Bank of New York Mellon Corp now owns 2,696,278 shares of the semiconductor company’s stock worth $367,153,000 after purchasing an additional 442,152 shares during the last quarter. Finally, Marshall Wace North America L.P. grew its holdings in Lam Research by 249.2% in the first quarter. Marshall Wace North America L.P. now owns 582,106 shares of the semiconductor company’s stock worth $104,202,000 after purchasing an additional 415,418 shares during the last quarter. 86.41% of the stock is owned by institutional investors and hedge funds.

Shares of Lam Research stock traded up $6.51 during mid-day trading on Thursday, hitting $198.23. The stock had a trading volume of 2,030,972 shares, compared to its average volume of 2,209,627. The company has a current ratio of 3.37, a quick ratio of 2.79 and a debt-to-equity ratio of 0.71. The company has a market cap of $29.35 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of 1.10 and a beta of 1.59. The firm’s 50-day simple moving average is $183.82. Lam Research Co. has a 12-month low of $122.64 and a 12-month high of $209.50.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, April 24th. The semiconductor company reported $3.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.38 by $0.32. Lam Research had a net margin of 25.64% and a return on equity of 46.66%. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period in the prior year, the business earned $4.79 EPS. The firm’s quarterly revenue was down 15.7% on a year-over-year basis. On average, equities research analysts anticipate that Lam Research Co. will post 14.33 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Wednesday, June 12th were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Tuesday, June 11th. This represents a $4.40 annualized dividend and a yield of 2.22%. Lam Research’s dividend payout ratio is currently 24.62%.

In other news, Director Abhijit Y. Talwalkar sold 3,988 shares of Lam Research stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $203.00, for a total value of $809,564.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Richard A. Gottscho sold 2,155 shares of Lam Research stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $209.00, for a total transaction of $450,395.00. The disclosure for this sale can be found here. Insiders have sold a total of 13,391 shares of company stock worth $2,776,675 over the last quarter. 0.44% of the stock is owned by company insiders.

LRCX has been the topic of several analyst reports. Wells Fargo & Co set a $45.00 price target on shares of Perrigo and gave the stock a “hold” rating in a report on Wednesday, June 19th. BidaskClub raised shares of Xilinx from a “hold” rating to a “buy” rating in a report on Saturday, June 29th. Credit Suisse Group reissued a “hold” rating on shares of FactSet Research Systems in a report on Monday, July 8th. Deutsche Bank dropped their price objective on shares of Xilinx from $125.00 to $120.00 and set a “hold” rating on the stock in a report on Thursday, April 25th. Finally, Zacks Investment Research lowered shares of Heritage Insurance from a “hold” rating to a “strong sell” rating in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $222.41.

Lam Research Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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