Lam Research Corporation $LRCX Shares Acquired by Triple Frond Partners LLC

Triple Frond Partners LLC lifted its holdings in Lam Research Corporation (NASDAQ:LRCX) by 38.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 706,615 shares of the semiconductor company’s stock after purchasing an additional 194,850 shares during the period. Lam Research accounts for about 6.9% of Triple Frond Partners LLC’s investment portfolio, making the stock its 7th biggest holding. Triple Frond Partners LLC owned approximately 0.06% of Lam Research worth $51,371,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Lam Research by 29.2% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 227,046 shares of the semiconductor company’s stock valued at $16,506,000 after purchasing an additional 51,281 shares during the last quarter. Financial Advisors Network Inc. lifted its stake in shares of Lam Research by 18.5% in the 1st quarter. Financial Advisors Network Inc. now owns 34,249 shares of the semiconductor company’s stock valued at $2,490,000 after purchasing an additional 5,354 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Lam Research by 14.4% in the 1st quarter. Wellington Management Group LLP now owns 2,278,467 shares of the semiconductor company’s stock valued at $165,645,000 after purchasing an additional 286,749 shares during the last quarter. Cornerstone Select Advisors LLC lifted its stake in shares of Lam Research by 2.2% in the 1st quarter. Cornerstone Select Advisors LLC now owns 24,135 shares of the semiconductor company’s stock valued at $1,755,000 after purchasing an additional 522 shares during the last quarter. Finally, Qtron Investments LLC lifted its stake in shares of Lam Research by 6.0% in the 1st quarter. Qtron Investments LLC now owns 25,309 shares of the semiconductor company’s stock valued at $1,840,000 after purchasing an additional 1,432 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Performance

NASDAQ LRCX opened at $98.88 on Tuesday. The stock has a market cap of $125.14 billion, a P/E ratio of 23.77, a PEG ratio of 1.29 and a beta of 1.65. The company’s 50-day simple moving average is $97.71 and its 200 day simple moving average is $84.11. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $108.02. The company has a quick ratio of 1.55, a current ratio of 2.21 and a debt-to-equity ratio of 0.38.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $4.99 billion. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The firm’s revenue for the quarter was up 33.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 earnings per share. As a group, research analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LRCX has been the subject of several analyst reports. Wells Fargo & Company set a $98.00 price objective on shares of Lam Research and gave the company an “equal weight” rating in a research note on Thursday, July 31st. Erste Group Bank initiated coverage on shares of Lam Research in a research report on Thursday, August 14th. They set a “buy” rating for the company. Argus boosted their target price on shares of Lam Research from $105.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. KeyCorp boosted their target price on shares of Lam Research from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Finally, Needham & Company LLC boosted their target price on shares of Lam Research from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Seven research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average price target of $107.09.

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.