Oaktop Capital Management II L.P. Grows Stock Position in Lam Research Co. (NASDAQ:LRCX)

Oaktop Capital Management II L.P. grew its position in Lam Research Co. (NASDAQ:LRCX) by 900.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,691,460 shares of the semiconductor company’s stock after acquiring an additional 2,422,314 shares during the quarter. Lam Research accounts for 24.3% of Oaktop Capital Management II L.P.’s portfolio, making the stock its 2nd biggest holding. Oaktop Capital Management II L.P. owned approximately 0.21% of Lam Research worth $194,404,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in LRCX. Vanguard Group Inc. lifted its position in Lam Research by 892.7% in the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock worth $8,724,498,000 after buying an additional 108,619,564 shares during the last quarter. FMR LLC boosted its holdings in Lam Research by 1,032.6% during the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock valued at $2,891,453,000 after acquiring an additional 36,496,689 shares during the period. Ameriprise Financial Inc. boosted its holdings in Lam Research by 950.5% during the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock valued at $2,495,128,000 after acquiring an additional 31,255,726 shares during the period. Geode Capital Management LLC boosted its holdings in Lam Research by 907.1% during the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock valued at $2,265,610,000 after acquiring an additional 28,307,499 shares during the period. Finally, Norges Bank purchased a new position in Lam Research during the 4th quarter valued at $1,661,672,000. Institutional investors own 84.61% of the company’s stock.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s 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 transaction, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $16,117,560. This represents a 38.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on LRCX shares. TD Cowen dropped 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. UBS Group dropped their price objective on Lam Research from $95.00 to $90.00 and set a “buy” rating for the company in a report on Monday, April 14th. Oppenheimer lowered their target price on Lam Research from $95.00 to $80.00 and set an “outperform” rating for the company in a report on Friday, April 11th. Morgan Stanley upped their target price on Lam Research from $81.00 to $82.00 and gave the stock an “equal weight” rating in a report on Thursday, April 24th. Finally, Jefferies Financial Group upped their target price on Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, March 28th. Seven investment 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 an average rating of “Moderate Buy” and a consensus target price of $91.56.

Lam Research Trading Up 9.1%

Shares of NASDAQ LRCX opened at $82.25 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The stock has a market capitalization of $105.21 billion, a P/E ratio of 24.98, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64. Lam Research Co. has a 1-year low of $56.32 and a 1-year high of $113.00. The business has a fifty day moving average price of $71.62 and a 200 day moving average price of $75.23.

Lam Research (NASDAQ:LRCX) last announced its earnings results 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 company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period in the prior year, the company posted $7.79 EPS. The firm’s quarterly revenue was up 24.4% compared to the same quarter last year. Equities research analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

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.