Point72 Italy S.r.l. Buys New Stake in Lam Research Co. (NASDAQ:LRCX)

Point72 Italy S.r.l. purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, Holdings Channel reports. 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 holding.

A number of other institutional investors also recently made changes to their positions in LRCX. Vanguard Group Inc. grew its holdings in shares of Lam Research by 892.7% during 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 in the last quarter. FMR LLC grew its holdings in shares of Lam Research by 1,032.6% during the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock worth $2,891,453,000 after purchasing an additional 36,496,689 shares during the period. Ameriprise Financial Inc. raised its position in Lam Research by 950.5% in the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock valued at $2,495,128,000 after purchasing an additional 31,255,726 shares during the period. Geode Capital Management LLC lifted its stake in shares of Lam Research by 907.1% during the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock worth $2,265,610,000 after purchasing an additional 28,307,499 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Lam Research in the fourth quarter worth about $1,661,672,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. UBS Group dropped their target price on Lam Research from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, April 14th. TD Securities reduced their target price on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and raised their price target for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Needham & Company LLC dropped their target price on Lam Research from $96.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, Bank of America dropped their price objective on Lam Research from $110.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.56.

Lam Research Price Performance

Shares of LRCX opened at $84.97 on Thursday. Lam Research Co. has a 12 month low of $56.32 and a 12 month high of $113.00. 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 fifty day moving average price of $71.91 and a 200 day moving average price of $75.36. The company has a market cap of $108.69 billion, a P/E ratio of 25.81, a PEG ratio of 1.47 and a beta of 1.64.

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

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction on 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 approximately $16,117,560. This trade represents a 38.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is owned by insiders.

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.