Jennison Associates LLC Has $71.46 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

Jennison Associates LLC cut its stake in Lam Research Co. (NASDAQ:LRCX) by 39.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 91,229 shares of the semiconductor company’s stock after selling 58,634 shares during the period. Jennison Associates LLC’s holdings in Lam Research were worth $71,456,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Valued Wealth Advisors LLC acquired a new position in Lam Research in the 4th quarter worth $30,000. Orion Capital Management LLC acquired a new position in Lam Research in the 3rd quarter worth $25,000. BluePath Capital Management LLC acquired a new position in Lam Research in the 3rd quarter worth $28,000. Asset Dedication LLC boosted its stake in Lam Research by 56.7% in the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 17 shares during the period. Finally, Rakuten Securities Inc. acquired a new position in Lam Research in the 4th quarter worth $38,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lam Research

In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the transaction, the director now directly owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the transaction, the director now directly owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the transaction, the chief accounting officer now directly owns 5,541 shares in the company, valued at $5,386,018.23. The disclosure for this sale can be found here. Insiders have sold a total of 7,029 shares of company stock valued at $6,559,489 in the last three months. 0.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LRCX shares. Wells Fargo & Company increased their price objective on shares of Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Needham & Company LLC increased their price objective on shares of Lam Research from $900.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Mizuho increased their price objective on shares of Lam Research from $900.00 to $935.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Cantor Fitzgerald increased their price objective on shares of Lam Research from $900.00 to $1,100.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Raymond James increased their price objective on shares of Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $931.85.

Lam Research Stock Down 0.3 %

Lam Research stock opened at $868.07 on Tuesday. The stock has a market cap of $113.80 billion, a P/E ratio of 33.57, a P/E/G ratio of 3.15 and a beta of 1.51. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61. Lam Research Co. has a twelve month low of $493.42 and a twelve month high of $1,007.39. The company’s 50-day moving average price is $944.64 and its two-hundred day moving average price is $804.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating the consensus estimate of $7.06 by $0.46. The firm had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The business’s revenue was down 28.8% on a year-over-year basis. During the same period in the prior year, the firm earned $10.71 EPS. As a group, analysts expect that Lam Research Co. will post 28.92 EPS for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were issued a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.92%. Lam Research’s dividend payout ratio is currently 30.94%.

Lam Research Company 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.