Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Woodline Partners LP

Woodline Partners LP raised its stake in Lam Research Co. (NASDAQ:LRCX) by 3,779.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,152,450 shares of the semiconductor company’s stock after acquiring an additional 2,096,966 shares during the quarter. Lam Research comprises approximately 1.1% of Woodline Partners LP’s investment portfolio, making the stock its 7th biggest holding. Woodline Partners LP’s holdings in Lam Research were worth $155,471,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Centerpoint Advisors LLC increased its position in Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 900 shares in the last quarter. Transform Wealth LLC bought a new position in shares of Lam Research in the 4th quarter valued at about $17,269,000. E. Ohman J or Asset Management AB bought a new position in shares of Lam Research in the 4th quarter valued at about $4,258,000. Huntington National Bank boosted its stake in shares of Lam Research by 944.0% in the 4th quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company’s stock valued at $21,291,000 after purchasing an additional 266,527 shares during the last quarter. Finally, Trust Co. of Oklahoma boosted its stake in shares of Lam Research by 904.2% in the 4th quarter. Trust Co. of Oklahoma now owns 25,778 shares of the semiconductor company’s stock valued at $1,862,000 after purchasing an additional 23,211 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were 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 in the company, valued at approximately $16,117,560. The trade was a 38.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Analyst Ratings Changes

LRCX has been the topic of several recent research reports. Stifel Nicolaus reduced their target price on shares of Lam Research from $100.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Barclays reduced their target price on shares of Lam Research from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. TD Securities reduced their price objective on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Oppenheimer reduced their price objective on shares of Lam Research from $95.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. Finally, Jefferies Financial Group lifted their price objective on shares of Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, March 28th. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.56.

Lam Research Price Performance

NASDAQ LRCX opened at $83.82 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 12-month low of $56.32 and a 12-month high of $113.00. The company has a market capitalization of $107.22 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64. The firm’s 50 day moving average is $72.50 and its 200-day moving average is $75.53.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The company had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the company earned $7.79 earnings per share. The firm’s revenue was up 24.4% compared to the same quarter last year. Equities research analysts anticipate that Lam Research Co. will post 3.71 earnings per share 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.