Panagora Asset Management Inc. boosted its stake in shares of Lam Research Corp. (NASDAQ:LRCX) by 116.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 338,934 shares of the company’s stock after buying an additional 182,531 shares during the period. Panagora Asset Management Inc. owned approximately 0.21% of Lam Research Corp. worth $27,996,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of LRCX. Legal & General Group Plc increased its position in shares of Lam Research Corp. by 0.5% in the first quarter. Legal & General Group Plc now owns 689,290 shares of the company’s stock valued at $56,933,000 after buying an additional 3,333 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Lam Research Corp. by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 13,678,637 shares of the company’s stock valued at $1,086,358,000 after buying an additional 402,775 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Lam Research Corp. by 3.0% in the first quarter. Geode Capital Management LLC now owns 1,345,517 shares of the company’s stock valued at $110,924,000 after buying an additional 39,093 shares during the last quarter. OppenheimerFunds Inc. increased its position in shares of Lam Research Corp. by 20.4% in the fourth quarter. OppenheimerFunds Inc. now owns 181,566 shares of the company’s stock valued at $14,423,000 after buying an additional 30,766 shares during the last quarter. Finally, Mazama Capital Management Inc. increased its position in shares of Lam Research Corp. by 8.0% in the fourth quarter. Mazama Capital Management Inc. now owns 45,304 shares of the company’s stock valued at $3,598,000 after buying an additional 3,357 shares during the last quarter.
Lam Research Corp. (NASDAQ:LRCX) traded up 0.37% during midday trading on Wednesday, reaching $91.94. 2,170,245 shares of the company were exchanged. Lam Research Corp. has a 52 week low of $61.20 and a 52 week high of $92.29. The firm has a 50-day moving average price of $85.18 and a 200-day moving average price of $78.04. The company has a market capitalization of $14.67 billion and a PE ratio of 20.46.
LRCX has been the topic of several analyst reports. Susquehanna upped their price target on shares of Lam Research Corp. from $76.00 to $80.00 in a report on Tuesday, March 29th. Needham & Company LLC restated a “buy” rating and issued a $95.00 target price (up from $88.00) on shares of Lam Research Corp. in a research note on Monday, April 18th. Deutsche Bank AG restated a “buy” rating and issued a $95.00 target price on shares of Lam Research Corp. in a research note on Thursday, April 21st. Zacks Investment Research upgraded shares of Lam Research Corp. from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a research note on Monday, April 4th. Finally, Cowen and Company dropped their target price on shares of Lam Research Corp. from $93.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, May 16th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $92.73.
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.
