Point72 Europe London LLP Purchases 89,900 Shares of Lam Research Co. (NASDAQ:LRCX)

Point72 Europe London LLP grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 872.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 100,200 shares of the semiconductor company’s stock after buying an additional 89,900 shares during the quarter. Point72 Europe London LLP’s holdings in Lam Research were worth $7,237,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Centerpoint Advisors LLC increased its position in shares of Lam Research by 900.0% during the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock valued at $72,000 after purchasing an additional 900 shares during the last quarter. Transform Wealth LLC purchased a new position in shares of Lam Research during the 4th quarter valued at about $17,269,000. E. Ohman J or Asset Management AB bought a new stake in Lam Research during the 4th quarter worth approximately $4,258,000. Huntington National Bank lifted its holdings in Lam Research by 944.0% during the fourth 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 in the last quarter. Finally, Sanders Morris Harris LLC boosted its position in shares of Lam Research by 900.0% in the fourth quarter. Sanders Morris Harris LLC now owns 42,420 shares of the semiconductor company’s stock worth $3,064,000 after purchasing an additional 38,178 shares during the period. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on LRCX shares. B. Riley reaffirmed a “buy” rating on shares of Lam Research in a report on Thursday, April 24th. Mizuho upped their price objective on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and upped their price target for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft set a $70.00 price objective on shares of Lam Research and gave the company a “hold” rating in a report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.56.

Lam Research Stock Down 0.3%

NASDAQ:LRCX opened at $84.97 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The stock has a market capitalization of $108.69 billion, a P/E ratio of 25.81, a P/E/G ratio of 1.47 and a beta of 1.64. The company’s 50-day simple moving average is $71.91 and its 200-day simple moving average is $75.36. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.04. The firm had revenue of $4.72 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company earned $7.79 earnings per share. On average, equities analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction dated 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 in the company, valued at $16,117,560. This trade represents a 38.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is currently owned by corporate insiders.

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.