Foyston Gordon & Payne Inc Buys New Shares in Lam Research Co. (NASDAQ:LRCX)

Foyston Gordon & Payne Inc bought a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 32,971 shares of the semiconductor company's stock, valued at approximately $2,381,000.

A number of other institutional investors also recently modified their holdings of the company. Financial Perspectives Inc increased its stake in shares of 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 purchasing an additional 309 shares in the last quarter. Fairway Wealth LLC increased its stake in shares of 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 purchasing an additional 306 shares in the last quarter. Atwood & Palmer Inc. bought a new position in shares of Lam Research during the fourth quarter valued at approximately $27,000. Midwest Capital Advisors LLC bought a new position in shares of Lam Research during the fourth quarter valued at approximately $27,000. Finally, West Paces Advisors Inc. bought a new position in shares of Lam Research during the fourth quarter valued at approximately $27,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Performance

Shares of Lam Research stock traded up $6.89 on Monday, hitting $82.25. 17,453,569 shares of the company's stock were exchanged, compared to its average volume of 12,238,269. The company has a 50-day simple moving average of $71.62 and a 200-day simple moving average of $75.23. The stock has a market capitalization of $105.21 billion, a PE ratio of 24.98, a PEG ratio of 1.47 and a beta of 1.64. Lam Research Co. has a 1 year low of $56.32 and a 1 year high of $113.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

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

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction 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 transaction, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. The trade was a 38.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.29% of the company's stock.

Wall Street Analyst Weigh In

LRCX has been the subject of several analyst reports. Wells Fargo & Company reduced their price target on shares of Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Morgan Stanley raised their price target on shares of Lam Research from $81.00 to $82.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. UBS Group reduced their price target on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Sanford C. Bernstein raised shares of Lam Research from a "market perform" rating to an "outperform" rating and raised their price target for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Finally, Stifel Nicolaus reduced their price target on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued 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 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.