Picton Mahoney Asset Management Buys New Shares in Lam Research Co. (NASDAQ:LRCX)

Picton Mahoney Asset Management bought a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 4,317 shares of the semiconductor company’s stock, valued at approximately $3,381,000.

Several other institutional investors have also recently bought and sold shares of LRCX. Orion Capital Management LLC bought a new stake in shares of Lam Research in the 3rd quarter worth $25,000. BluePath Capital Management LLC bought a new stake in shares of Lam Research in the 3rd quarter worth $28,000. OFI Invest Asset Management bought a new stake in shares of Lam Research in the 3rd quarter worth $30,000. Asset Dedication LLC grew its stake in shares of Lam Research by 56.7% in the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 17 shares in the last quarter. Finally, Valued Wealth Advisors LLC bought a new stake in shares of Lam Research in the 4th quarter worth $30,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of the sale, the director now owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the sale, the director now directly owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The disclosure for this sale can be found here. Insiders have sold 7,489 shares of company stock worth $6,978,065 over the last quarter. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on LRCX. TD Cowen increased their price target on shares of Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Raymond James increased their target price on shares of Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. increased their target price on shares of Lam Research from $900.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Barclays increased their target price on shares of Lam Research from $825.00 to $865.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. Finally, Evercore ISI assumed coverage on shares of Lam Research in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 target price for the company. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $950.85.

Lam Research Trading Down 0.2 %

Shares of NASDAQ:LRCX traded down $1.63 on Wednesday, hitting $913.28. 553,936 shares of the company’s stock were exchanged, compared to its average volume of 1,053,578. Lam Research Co. has a 12 month low of $512.09 and a 12 month high of $1,007.39. The stock has a market capitalization of $119.40 billion, a price-to-earnings ratio of 33.59, a price-to-earnings-growth ratio of 2.82 and a beta of 1.51. The business’s 50 day simple moving average is $940.71 and its two-hundred day simple moving average is $824.74. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, beating the consensus estimate of $7.26 by $0.53. The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $6.99 earnings per share. Analysts anticipate that Lam Research Co. will post 29.62 EPS 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.