Tidal Investments LLC Grows Stock Position in Lam Research Co. (NASDAQ:LRCX)

Tidal Investments LLC raised its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 214.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 117,838 shares of the semiconductor company’s stock after buying an additional 80,418 shares during the period. Tidal Investments LLC’s holdings in Lam Research were worth $8,511,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of LRCX. Financial Perspectives Inc raised its stake in shares of Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 309 shares during the last quarter. Fairway Wealth LLC grew its position in shares of Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 306 shares during the period. Atwood & Palmer Inc. acquired a new stake in shares of Lam Research during the 4th quarter valued at about $27,000. Midwest Capital Advisors LLC acquired a new stake in shares of Lam Research during the 4th quarter valued at about $27,000. Finally, West Paces Advisors Inc. acquired a new stake in shares of Lam Research during the 4th quarter valued at about $27,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’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 sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This represents a 38.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Lam Research Stock Down 0.7%

Shares of NASDAQ LRCX opened at $83.82 on Tuesday. The firm has a market cap of $107.22 billion, a price-to-earnings ratio of 25.46, 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 52-week low of $56.32 and a 52-week high of $113.00. The business’s 50 day moving average is $72.50 and its two-hundred 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 for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the prior year, the company earned $7.79 earnings per share. The company’s revenue was up 24.4% on a year-over-year basis. Research analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Analysts Set New Price Targets

LRCX has been the topic of a number of analyst reports. Mizuho raised their target price on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 target price on shares of Lam Research in a research report on Thursday, April 24th. TD Cowen dropped their target price on Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Oppenheimer dropped their target price on Lam Research from $95.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Finally, Deutsche Bank Aktiengesellschaft set a $70.00 target price on Lam Research and gave the company a “hold” rating in a research report on Thursday, April 24th. Seven investment 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 stock. According to data from MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and an average price target of $91.56.

Lam Research Company 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.