Vivaldi Capital Management LP Buys 3,401 Shares of Lam Research Co. (NASDAQ:LRCX)

Vivaldi Capital Management LP increased its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 1,049.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,725 shares of the semiconductor company's stock after purchasing an additional 3,401 shares during the quarter. Vivaldi Capital Management LP's holdings in Lam Research were worth $282,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Perspectives Inc raised its holdings in Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 309 shares during the period. Fairway Wealth LLC raised its holdings in Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 306 shares during the period. Atwood & Palmer Inc. bought a new stake in Lam Research during the fourth quarter valued at about $27,000. Midwest Capital Advisors LLC bought a new stake in Lam Research during the fourth quarter valued at about $27,000. Finally, West Paces Advisors Inc. bought a new stake in Lam Research during the fourth quarter valued at about $27,000. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Down 0.7%

Shares of NASDAQ:LRCX opened at $83.82 on Tuesday. Lam Research Co. has a 1 year low of $56.32 and a 1 year high of $113.00. The business has a 50 day simple moving average of $72.50 and a two-hundred day simple moving average of $75.53. The firm has a market capitalization of $107.22 billion, a PE ratio of 25.46, a price-to-earnings-growth 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 (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (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 business had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the previous year, the business earned $7.79 earnings per share. The company's revenue for the quarter was up 24.4% compared to the same quarter last year. On average, equities analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research 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 owns 179,084 shares of the company's stock, valued at approximately $16,117,560. The trade was a 38.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Stifel Nicolaus decreased their price target on Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Needham & Company LLC cut their price objective on Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. TD Securities cut their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Jefferies Financial Group raised their price objective on Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, March 28th. Finally, Argus upgraded Lam Research to a "strong-buy" rating in a research report on Friday, April 25th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.56.

Lam Research 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.

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