Lam Research Co. (NASDAQ:LRCX) Shares Bought by USS Investment Management Ltd

USS Investment Management Ltd raised its holdings in Lam Research Co. (NASDAQ:LRCX) by 878.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 293,702 shares of the semiconductor company’s stock after purchasing an additional 263,690 shares during the period. USS Investment Management Ltd’s holdings in Lam Research were worth $21,208,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Voloridge Investment Management LLC raised its position in shares of Lam Research by 1,094.8% during the 4th quarter. Voloridge Investment Management LLC now owns 1,449,196 shares of the semiconductor company’s stock worth $104,675,000 after purchasing an additional 1,327,900 shares during the last quarter. Waverly Advisors LLC increased its stake in Lam Research by 1,190.6% during the 4th quarter. Waverly Advisors LLC now owns 7,253 shares of the semiconductor company’s stock worth $524,000 after buying an additional 6,691 shares in the last quarter. Worldquant Millennium Advisors LLC raised its holdings in shares of Lam Research by 424.6% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 1,130,015 shares of the semiconductor company’s stock valued at $81,621,000 after acquiring an additional 914,595 shares during the last quarter. Whelan Financial purchased a new position in shares of Lam Research in the fourth quarter valued at approximately $254,000. Finally, Williams Jones Wealth Management LLC. boosted its stake in shares of Lam Research by 899.9% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 293,770 shares of the semiconductor company’s stock worth $21,219,000 after acquiring an additional 264,391 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’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 completion of the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. This trade represents a 38.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.29% of the company’s stock.

Lam Research Stock Performance

Shares of Lam Research stock opened at $84.29 on Wednesday. The firm has a market cap of $107.82 billion, a PE ratio of 25.60, a price-to-earnings-growth 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 fifty day simple moving average is $72.68 and its 200-day simple moving average is $75.59.

Lam Research (NASDAQ:LRCX) last posted 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 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%. Lam Research’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $7.79 earnings per share. Equities analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on LRCX. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. TD Securities reduced their target price on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. B. Riley reissued a “buy” rating on shares of Lam Research in a research note on Thursday, April 24th. Wells Fargo & Company dropped their price objective on shares of Lam Research from $85.00 to $75.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Finally, TD Cowen decreased their target price 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. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.