Jennison Associates LLC Has $63.29 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

Jennison Associates LLC boosted its position in Lam Research Co. (NASDAQ:LRCX) by 267.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 876,167 shares of the semiconductor company’s stock after buying an additional 637,892 shares during the quarter. Jennison Associates LLC owned approximately 0.07% of Lam Research worth $63,286,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Czech National Bank grew its stake in Lam Research by 6.6% in the third quarter. Czech National Bank now owns 26,559 shares of the semiconductor company’s stock valued at $21,674,000 after purchasing an additional 1,645 shares in the last quarter. McLean Asset Management Corp increased its position in Lam Research by 891.8% during the 3rd quarter. McLean Asset Management Corp now owns 4,820 shares of the semiconductor company’s stock worth $3,934,000 after buying an additional 4,334 shares during the period. Fulton Bank N.A. raised its stake in Lam Research by 37.1% in the 3rd quarter. Fulton Bank N.A. now owns 1,857 shares of the semiconductor company’s stock worth $1,515,000 after purchasing an additional 503 shares in the last quarter. New England Research & Management Inc. boosted its stake in shares of Lam Research by 270.0% in the third quarter. New England Research & Management Inc. now owns 1,850 shares of the semiconductor company’s stock valued at $1,510,000 after buying an additional 1,350 shares during the period. Finally, Kesler Norman & Wride LLC bought a new stake in shares of Lam Research during the 3rd quarter valued at $422,000. Institutional investors own 84.61% of the company’s stock.

Lam Research Trading Down 1.1 %

NASDAQ LRCX opened at $80.19 on Tuesday. The stock has a market capitalization of $103.18 billion, a P/E ratio of 24.36, a P/E/G ratio of 1.34 and a beta of 1.46. The business has a 50 day simple moving average of $76.05 and a 200 day simple moving average of $78.56. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Research analysts expect that Lam Research Co. will post 3.69 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.15%. Lam Research’s dividend payout ratio is presently 27.95%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on LRCX shares. The Goldman Sachs Group decreased their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of Lam Research in a research note on Thursday, January 30th. BNP Paribas upgraded Lam Research to a “hold” rating in a research report on Thursday, October 24th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and increased their target price for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Finally, B. Riley reduced their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.72.

About Lam Research

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.