Malaga Cove Capital LLC Purchases 36,913 Shares of Lam Research Co. (NASDAQ:LRCX)

Malaga Cove Capital LLC lifted its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 881.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 41,100 shares of the semiconductor company's stock after acquiring an additional 36,913 shares during the period. Lam Research accounts for about 1.2% of Malaga Cove Capital LLC's investment portfolio, making the stock its 23rd largest position. Malaga Cove Capital LLC's holdings in Lam Research were worth $2,969,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Centerpoint Advisors LLC grew its holdings in Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock valued at $72,000 after buying an additional 900 shares during the last quarter. Transform Wealth LLC acquired a new stake in Lam Research in the 4th quarter valued at approximately $17,269,000. E. Ohman J or Asset Management AB acquired a new stake in Lam Research in the 4th quarter valued at approximately $4,258,000. Huntington National Bank grew its holdings in Lam Research by 944.0% in the 4th quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock valued at $21,291,000 after buying an additional 266,527 shares during the last quarter. Finally, Sanders Morris Harris LLC grew its holdings in Lam Research by 900.0% in the 4th quarter. Sanders Morris Harris LLC now owns 42,420 shares of the semiconductor company's stock valued at $3,064,000 after buying an additional 38,178 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on LRCX shares. Barclays lowered their target price 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. Susquehanna raised Lam Research from a "neutral" rating to a "positive" rating and lifted their price objective for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Stifel Nicolaus decreased their price objective on Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Wells Fargo & Company decreased their price objective on Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Finally, UBS Group decreased their price objective on Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Seven 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $91.56.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company's stock.

Lam Research Price Performance

LRCX traded down $0.36 during trading 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. The firm's 50 day moving average price is $72.35 and its two-hundred day moving average price is $75.47. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 12 month low of $56.32 and a 12 month high of $113.00. The stock has a market capitalization of $108.00 billion, a price-to-earnings ratio of 25.65, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the previous year, the company posted $7.79 EPS. The business's revenue for the quarter was up 24.4% compared to the same quarter last year. Sell-side analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

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.