Foyston Gordon & Payne Inc Acquires Shares of 32,971 Lam Research Co. (NASDAQ:LRCX)

Foyston Gordon & Payne Inc purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 32,971 shares of the semiconductor company’s stock, valued at approximately $2,381,000.

Several other hedge funds also recently added to or reduced their stakes in LRCX. Financial Perspectives Inc grew its stake in shares of Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 309 shares during the last quarter. Fairway Wealth LLC boosted its holdings in Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 306 shares during the period. Atwood & Palmer Inc. bought a new position in Lam Research in the 4th quarter valued at $27,000. Midwest Capital Advisors LLC bought a new position in Lam Research in the 4th quarter valued at $27,000. Finally, West Paces Advisors Inc. purchased a new stake in Lam Research in the fourth quarter worth $27,000. 84.61% of the stock is currently owned by institutional investors.

Insider Transactions at Lam Research

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 of the company’s stock, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.29% of the company’s stock.

Lam Research Trading Up 0.7 %

Lam Research stock opened at $75.43 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The stock has a market cap of $96.48 billion, a PE ratio of 22.91, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64. The stock has a 50-day moving average of $71.56 and a two-hundred day moving average of $75.19. Lam Research Co. has a one year low of $56.32 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Lam Research’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same period last year, the business earned $7.79 EPS. On average, research analysts anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Barclays cut their price target on shares of Lam Research from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft set a $70.00 target price on shares of Lam Research and gave the stock a “hold” rating in a research note on Thursday, April 24th. TD Securities decreased their price target on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group dropped their price objective on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of Lam Research in a report on Thursday, April 24th. 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $91.56.

Lam Research Company 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.