Lam Research Co. (NASDAQ:LRCX) Stock Position Raised by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP increased its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 914.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,619 shares of the semiconductor company's stock after acquiring an additional 184,451 shares during the period. Baker Avenue Asset Management LP's holdings in Lam Research were worth $14,780,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Synovus Financial Corp increased its holdings in Lam Research by 22.4% during the 3rd quarter. Synovus Financial Corp now owns 3,071 shares of the semiconductor company's stock valued at $2,508,000 after acquiring an additional 561 shares in the last quarter. Versant Capital Management Inc acquired a new position in shares of Lam Research in the fourth quarter worth $159,000. GAMMA Investing LLC lifted its position in shares of Lam Research by 1,139.5% in the fourth quarter. GAMMA Investing LLC now owns 24,195 shares of the semiconductor company's stock valued at $1,748,000 after acquiring an additional 22,243 shares in the last quarter. Modus Advisors LLC purchased a new stake in Lam Research during the 4th quarter worth about $59,000. Finally, Everence Capital Management Inc. boosted its stake in shares of Lam Research by 581.1% during the 4th quarter. Everence Capital Management Inc. now owns 27,740 shares of the semiconductor company's stock worth $2,004,000 after purchasing an additional 23,667 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now directly owns 179,084 shares of the company's stock, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on LRCX shares. Evercore ISI boosted their price target on Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Morgan Stanley raised their target price on shares of Lam Research from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $90.00 price target on shares of Lam Research in a research report on Thursday, April 24th. Oppenheimer dropped their price objective on Lam Research from $95.00 to $80.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Finally, UBS Group reduced their target price on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $91.56.

Lam Research Stock Performance

NASDAQ LRCX traded up $2.08 on Wednesday, hitting $75.24. The stock had a trading volume of 9,984,196 shares, compared to its average volume of 12,164,029. The company's 50-day moving average is $71.62 and its two-hundred day moving average is $75.16. Lam Research Co. has a one year low of $56.32 and a one year high of $113.00. The stock has a market cap of $96.24 billion, a price-to-earnings ratio of 22.86, a P/E/G ratio of 1.47 and a beta of 1.64. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The firm had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. During the same period last year, the firm earned $7.79 EPS. The firm's revenue was up 24.4% compared to the same quarter last year. On average, analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

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.