Versor Investments LP Boosts Holdings in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Versor Investments LP significantly increased its holdings in Lam Research Corporation by 156.6%, acquiring an additional 15,020 shares during the 1st quarter, bringing its total shares to 24,611 valued at approximately $1.79 million.
• Lam Research recently reported a 33.6% increase in revenue year-over-year, with an earnings per share (EPS) of $1.33, exceeding analysts' expectations of $1.21 and prompting positive earnings outlooks from several analysts.
• The company's stock is currently down 7.3%, and analysts have issued mixed ratings, with seven holding a hold rating, twenty a buy rating, and one a strong buy rating, leading to a consensus rating of "Moderate Buy".

Versor Investments LP raised its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 156.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,611 shares of the semiconductor company's stock after acquiring an additional 15,020 shares during the quarter. Versor Investments LP's holdings in Lam Research were worth $1,789,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Valley Brook Capital Group Inc. increased its holdings in Lam Research by 39.6% during the 1st quarter. Valley Brook Capital Group Inc. now owns 6,630 shares of the semiconductor company's stock valued at $482,000 after acquiring an additional 1,880 shares in the last quarter. Seek First Inc. acquired a new stake in shares of Lam Research during the 1st quarter worth about $677,000. Foyston Gordon & Payne Inc boosted its stake in shares of Lam Research by 1.0% during the 1st quarter. Foyston Gordon & Payne Inc now owns 33,303 shares of the semiconductor company's stock worth $2,421,000 after purchasing an additional 332 shares during the last quarter. Algert Global LLC boosted its stake in shares of Lam Research by 149.6% during the 1st quarter. Algert Global LLC now owns 8,210 shares of the semiconductor company's stock worth $597,000 after purchasing an additional 4,921 shares during the last quarter. Finally, Seven Mile Advisory boosted its stake in shares of Lam Research by 13.5% during the 1st quarter. Seven Mile Advisory now owns 4,074 shares of the semiconductor company's stock worth $296,000 after purchasing an additional 483 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Down 7.3%

Shares of NASDAQ:LRCX opened at $99.51 on Friday. The company has a current ratio of 2.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.38. The company has a fifty day simple moving average of $97.50 and a 200 day simple moving average of $83.96. The firm has a market cap of $125.94 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 1.29 and a beta of 1.65. Lam Research Corporation has a 12-month low of $56.32 and a 12-month high of $108.02.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.12. The business had revenue of $5.17 billion during the quarter, compared to analyst estimates of $4.99 billion. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The business's revenue was up 33.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 earnings per share. On average, equities research analysts anticipate that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, June 18th. Lam Research's payout ratio is 22.12%.

Analyst Ratings Changes

LRCX has been the topic of several analyst reports. Erste Group Bank raised shares of Lam Research to a "strong-buy" rating in a research note on Thursday. TD Securities decreased their price target 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. Summit Insights cut shares of Lam Research from a "buy" rating to a "hold" rating in a research note on Thursday, July 31st. B. Riley reaffirmed a "buy" rating and set a $115.00 price target (up from $95.00) on shares of Lam Research in a research note on Wednesday, June 18th. Finally, Mizuho raised their price target on shares of Lam Research from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Seven research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Lam Research has a consensus rating of "Moderate Buy" and an average price target of $107.09.

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.

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