Voleon Capital Management LP Buys New Shares in Lam Research Co. (NASDAQ:LRCX)

Voleon Capital Management LP acquired a new stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 124,534 shares of the semiconductor company's stock, valued at approximately $8,995,000. Lam Research comprises about 0.7% of Voleon Capital Management LP's holdings, making the stock its 27th largest holding.

A number of other large investors have also recently bought and sold shares of LRCX. Parisi Gray Wealth Management boosted its position in Lam Research by 652.9% during the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company's stock valued at $603,000 after purchasing an additional 7,241 shares during the period. Burns J W & Co. Inc. NY bought a new stake in Lam Research in the fourth quarter valued at $815,000. Centerpoint Advisors LLC boosted its holdings in shares of Lam Research by 900.0% during 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 during the period. Transform Wealth LLC bought a new position in shares of Lam Research during the fourth quarter worth about $17,269,000. Finally, E. Ohman J or Asset Management AB bought a new stake in Lam Research in the 4th quarter valued at about $4,258,000. Institutional investors own 84.61% of the company's stock.

Insider Activity

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business's stock in a transaction dated 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 sale, the senior vice president now owns 179,084 shares of the company's stock, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is owned by corporate insiders.

Lam Research Stock Up 3.9 %

Shares of LRCX stock traded up $2.79 on Friday, reaching $74.52. 13,337,536 shares of the company's stock traded hands, compared to its average volume of 12,174,561. The business's 50 day moving average price is $71.83 and its two-hundred day moving average price is $75.15. The company has a market capitalization of $95.32 billion, a P/E ratio of 22.64, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52. 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 Co. has a 12-month low of $56.32 and a 12-month high of $113.00.

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

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were issued a dividend of $0.23 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.23%. Lam Research's dividend payout ratio is 25.63%.

Wall Street Analyst Weigh In

Several research firms have commented on LRCX. Susquehanna upgraded shares of 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 report on Thursday, February 20th. TD Securities decreased their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Jefferies Financial Group lifted their target price on Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Deutsche Bank Aktiengesellschaft set a $70.00 price target on Lam Research and gave the stock a "hold" rating in a research note on Thursday, April 24th. Finally, Needham & Company LLC cut their price objective on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.56.

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.