Virtus Investment Advisers Inc. Purchases 2,700 Shares of Lam Research Co. (NASDAQ:LRCX)

Virtus Investment Advisers Inc. increased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 900.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,000 shares of the semiconductor company’s stock after purchasing an additional 2,700 shares during the quarter. Virtus Investment Advisers Inc.’s holdings in Lam Research were worth $217,000 as of its most recent SEC filing.

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

Lam Research Trading Down 0.4%

NASDAQ LRCX opened at $84.43 on Monday. The company has a market capitalization of $108.00 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.47 and a beta of 1.64. 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 twelve month low of $56.32 and a twelve month high of $113.00. The stock’s 50-day simple moving average is $72.35 and its two-hundred day simple moving average is $75.47.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.04. The business had revenue of $4.72 billion for 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%. The business’s quarterly revenue was up 24.4% on a year-over-year basis. During the same period last year, the business earned $7.79 earnings per share. Research analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of research reports. TD Cowen lowered their price target on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Argus upgraded Lam Research to a “strong-buy” rating in a research note on Friday, April 25th. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and increased their price target for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. B. Riley restated a “buy” rating on shares of Lam Research in a research note on Thursday, April 24th. Finally, Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $91.56.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. This trade represents a 38.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.29% of the company’s stock.

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.