20,309 Shares in Lam Research Co. (NASDAQ:LRCX) Acquired by Point72 Italy S.r.l.

Point72 Italy S.r.l. purchased a new position in Lam Research Co. (NASDAQ:LRCX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,309 shares of the semiconductor company's stock, valued at approximately $1,467,000. Lam Research makes up approximately 0.8% of Point72 Italy S.r.l.'s portfolio, making the stock its 25th biggest position.

Other institutional investors have also recently modified their holdings of the company. Centerpoint Advisors LLC raised its stake in shares of Lam Research by 900.0% in the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock worth $72,000 after purchasing an additional 900 shares during the last quarter. Transform Wealth LLC purchased a new position in Lam Research during the fourth quarter valued at approximately $17,269,000. E. Ohman J or Asset Management AB purchased a new position in Lam Research during the fourth quarter valued at approximately $4,258,000. Huntington National Bank raised its position in Lam Research by 944.0% during the fourth quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock valued at $21,291,000 after acquiring an additional 266,527 shares in the last quarter. Finally, Sanders Morris Harris LLC raised its position in Lam Research by 900.0% during the fourth quarter. Sanders Morris Harris LLC now owns 42,420 shares of the semiconductor company's stock valued at $3,064,000 after acquiring an additional 38,178 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Performance

Shares of NASDAQ LRCX traded down $0.36 during mid-day trading on Friday, hitting $84.43. 10,088,878 shares of the company were exchanged, compared to its average volume of 12,296,335. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The stock has a 50 day simple moving average of $72.35 and a 200-day simple moving average of $75.46. Lam Research Co. has a 1-year low of $56.32 and a 1-year high of $113.00. The firm has a market cap 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 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. 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 period last year, the company earned $7.79 earnings per share. The company's revenue for the quarter was up 24.4% on a year-over-year basis. On average, sell-side analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction dated 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 owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Cantor Fitzgerald reiterated an "overweight" rating and set a $90.00 price target on shares of Lam Research in a research report on Thursday, April 24th. Mizuho lifted their price target on Lam Research from $87.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Jefferies Financial Group boosted 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. Susquehanna raised Lam Research from a "neutral" rating to a "positive" rating and upped their target price for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Finally, Argus raised shares of Lam Research to a "strong-buy" rating in a research note on Friday, April 25th. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Lam Research currently has an average rating of "Moderate Buy" and an average 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.