Nicholas Investment Partners LP acquired a new position in Lam Research Co. (NASDAQ:LRCX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 10,783 shares of the semiconductor company's stock, valued at approximately $779,000.
Other large investors have also modified their holdings of the company. Fairway Wealth LLC increased its holdings in shares of Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 306 shares during the period. Financial Perspectives Inc increased its holdings in shares of Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 309 shares during the period. Atwood & Palmer Inc. acquired a new stake in shares of Lam Research in the 4th quarter worth about $27,000. West Paces Advisors Inc. acquired a new stake in shares of Lam Research in the 4th quarter worth about $27,000. Finally, Midwest Capital Advisors LLC acquired a new stake in shares of Lam Research in the 4th quarter worth about $27,000. Institutional investors and hedge funds own 84.61% of the company's stock.
Insiders Place Their Bets
In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. This trade represents a 38.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.29% of the company's stock.
Wall Street Analysts Forecast Growth
LRCX has been the topic of a number of analyst reports. TD Cowen dropped their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Cantor Fitzgerald reissued an "overweight" rating and set a $90.00 target price on shares of Lam Research in a research note on Thursday, April 24th. Jefferies Financial Group raised their target price on shares of Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Wells Fargo & Company lowered their target price on shares of Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Finally, TD Securities lowered their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Lam Research presently has an average rating of "Moderate Buy" and a consensus price target of $91.56.
Check Out Our Latest Stock Analysis on LRCX
Lam Research Price Performance
Shares of LRCX traded down $0.36 during mid-day trading on Friday, hitting $84.43. The company's stock had a trading volume of 10,088,878 shares, compared to its average volume of 12,296,335. The firm has a 50-day moving average price of $72.35 and a 200 day moving average price of $75.46. The stock has a market capitalization of $108.00 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.47 and a beta of 1.64. 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 fifty-two week low of $56.32 and a fifty-two week high of $113.00.
Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The company had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. During the same quarter in the previous year, the company posted $7.79 EPS. The business's revenue was up 24.4% compared to the same quarter last year. On average, research analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.
Lam Research Company Profile
(
Free Report)
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.
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