Occudo Quantitative Strategies LP Acquires 44,998 Shares of Lam Research Co. (NASDAQ:LRCX)

Occudo Quantitative Strategies LP grew its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 646.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,961 shares of the semiconductor company's stock after acquiring an additional 44,998 shares during the quarter. Lam Research comprises about 0.7% of Occudo Quantitative Strategies LP's holdings, making the stock its 21st largest position. Occudo Quantitative Strategies LP's holdings in Lam Research were worth $3,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of LRCX. Parisi Gray Wealth Management boosted its position in shares of Lam Research by 652.9% in the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company's stock worth $603,000 after buying an additional 7,241 shares during the period. Burns J W & Co. Inc. NY purchased a new position in Lam Research in the 4th quarter worth approximately $815,000. Centerpoint Advisors LLC grew its position in Lam Research by 900.0% in the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock valued at $72,000 after acquiring an additional 900 shares in the last quarter. Transform Wealth LLC purchased a new stake in shares of Lam Research during the fourth quarter valued at approximately $17,269,000. Finally, E. Ohman J or Asset Management AB acquired a new position in shares of Lam Research during the fourth quarter worth $4,258,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction on Thursday, February 20th. The stock was 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 in the company, 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 accessible through the SEC website. 0.29% of the stock is currently owned by insiders.

Lam Research Stock Performance

LRCX traded down $0.36 during trading hours on Friday, hitting $84.43. The company's stock had a trading volume of 10,088,878 shares, compared to its average volume of 12,283,580. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The firm has a market capitalization of $108.00 billion, a PE ratio of 25.65, a PEG ratio of 1.47 and a beta of 1.64. The company has a 50-day simple moving average of $72.13 and a 200 day simple moving average of $75.43. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on LRCX shares. Evercore ISI boosted their price objective on shares of Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. UBS Group reduced their price target on Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a report on Monday, April 14th. Barclays dropped their price objective on Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Stifel Nicolaus decreased 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. Finally, Argus upgraded shares of Lam Research to a "strong-buy" rating in a research note on Friday, April 25th. Seven 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 stock currently has a consensus rating of "Moderate Buy" and an average target price 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.