AlTi Global Inc. Acquires 10,356 Shares of Lam Research Co. (NASDAQ:LRCX)

AlTi Global Inc. boosted its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 1,057.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,335 shares of the semiconductor company's stock after purchasing an additional 10,356 shares during the quarter. AlTi Global Inc.'s holdings in Lam Research were worth $828,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Synovus Financial Corp boosted its position in shares of Lam Research by 22.4% in the third quarter. Synovus Financial Corp now owns 3,071 shares of the semiconductor company's stock worth $2,508,000 after acquiring an additional 561 shares during the last quarter. Versant Capital Management Inc purchased a new position in Lam Research during the fourth quarter worth approximately $159,000. GAMMA Investing LLC boosted its holdings in shares of Lam Research by 1,139.5% in the 4th quarter. GAMMA Investing LLC now owns 24,195 shares of the semiconductor company's stock valued at $1,748,000 after purchasing an additional 22,243 shares during the last quarter. Modus Advisors LLC purchased a new stake in shares of Lam Research during the 4th quarter valued at $59,000. Finally, Everence Capital Management Inc. increased its holdings 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 buying 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 firm's 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 transaction, the senior vice president now owns 179,084 shares of the company's stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LRCX. Cantor Fitzgerald reissued an "overweight" rating and set a $90.00 price target on shares of Lam Research 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 on the stock in a research report on Monday, April 14th. Mizuho boosted their price objective on shares of Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Oppenheimer reduced their target price on shares of Lam Research from $95.00 to $80.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Finally, Bank of America lowered their price target on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Seven equities research 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 company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $91.56.

Lam Research Price Performance

Shares of LRCX traded up $2.08 during mid-day trading on Wednesday, hitting $75.24. The company's stock had a trading volume of 9,984,196 shares, compared to its average volume of 12,142,450. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The firm has a 50-day moving average price of $71.62 and a 200 day moving average price of $75.16. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The stock has a market capitalization of $96.24 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 1.47 and a beta of 1.64.

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 analysts' consensus estimates of $1.00 by $0.04. The firm had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Lam Research's revenue was up 24.4% on a year-over-year basis. During the same quarter last year, the business posted $7.79 EPS. On average, research analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

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.