Marshall Wace North America L.P. Has $104.20 Million Position in Lam Research Co. (NASDAQ:LRCX)

Marshall Wace North America L.P. boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 249.2% during the 1st quarter, HoldingsChannel reports. The firm owned 582,106 shares of the semiconductor company’s stock after buying an additional 415,418 shares during the quarter. Marshall Wace North America L.P.’s holdings in Lam Research were worth $104,202,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Berman Capital Advisors LLC purchased a new position in shares of Lam Research in the fourth quarter valued at about $26,000. Global Retirement Partners LLC lifted its position in shares of Lam Research by 119.4% in the first quarter. Global Retirement Partners LLC now owns 147 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 80 shares in the last quarter. FTB Advisors Inc. lifted its position in shares of Lam Research by 72.0% in the fourth quarter. FTB Advisors Inc. now owns 215 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 90 shares in the last quarter. Zions Bancorporation N.A. purchased a new position in shares of Lam Research in the first quarter valued at about $28,000. Finally, Strategy Asset Managers LLC purchased a new position in shares of Lam Research in the first quarter valued at about $33,000. Institutional investors own 86.77% of the company’s stock.

Shares of NASDAQ:LRCX traded down $3.39 during mid-day trading on Friday, reaching $176.80. The stock had a trading volume of 2,186,230 shares, compared to its average volume of 1,913,344. 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 capitalization of $26.51 billion, a P/E ratio of 9.89, a P/E/G ratio of 1.03 and a beta of 1.63. Lam Research Co. has a 1 year low of $122.64 and a 1 year high of $209.50.

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

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Wednesday, June 12th will be given a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, June 11th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.49%. Lam Research’s dividend payout ratio is currently 24.62%.

In other Lam Research news, Director Abhijit Y. Talwalkar sold 3,988 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $203.00, for a total transaction of $809,564.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Richard A. Gottscho sold 2,155 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $209.00, for a total value of $450,395.00. The disclosure for this sale can be found here. Insiders sold 17,379 shares of company stock worth $3,554,335 over the last quarter. 0.44% of the stock is owned by company insiders.

Several brokerages have recently commented on LRCX. Zacks Investment Research downgraded Lam Research from a “hold” rating to a “sell” rating in a research report on Thursday, April 11th. Mizuho restated a “buy” rating and issued a $180.00 price objective on shares of Lam Research in a research report on Tuesday, April 16th. Needham & Company LLC boosted their price objective on Lam Research from $180.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. UBS Group boosted their price objective on Lam Research from $170.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Finally, B. Riley upgraded Lam Research from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $170.00 to $235.00 in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $224.78.

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About Lam Research

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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