Two Sigma Investments LP Raises Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Two Sigma Investments LP grew its holdings in Lam Research Co. (NASDAQ:LRCX) by 971.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,809,026 shares of the semiconductor company’s stock after buying an additional 2,546,923 shares during the quarter. Two Sigma Investments LP owned 0.22% of Lam Research worth $202,896,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Perspectives Inc raised its holdings in shares of Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 309 shares during the last quarter. Fairway Wealth LLC grew its holdings in shares of Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after buying an additional 306 shares in the last quarter. Atwood & Palmer Inc. acquired a new stake in shares of Lam Research in the fourth quarter valued at about $27,000. Midwest Capital Advisors LLC purchased a new position in shares of Lam Research in the fourth quarter worth about $27,000. Finally, West Paces Advisors Inc. acquired a new position in Lam Research during the fourth quarter worth about $27,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Trading Down 0.4%

LRCX opened at $84.43 on Monday. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $72.35 and a 200-day simple moving average of $75.47. The firm has a market cap of $108.00 billion, a P/E ratio of 25.65, a P/E/G ratio of 1.47 and a beta of 1.64.

Lam Research (NASDAQ:LRCX) last announced its 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 company had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Lam Research’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same period last year, the business posted $7.79 EPS. On average, equities analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction on Thursday, February 20th. The stock was 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 directly owns 179,084 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. TD Cowen cut their price objective on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, April 24th. TD Securities reduced their price objective 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. Argus raised Lam Research to a “strong-buy” rating in a research note on Friday, April 25th. Jefferies Financial Group upped their target price on Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, March 28th. Finally, Bank of America reduced their price target 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 research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.56.

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.