Sone Capital Management LLC Makes New Investment in Lam Research Co. (NASDAQ:LRCX)

Sone Capital Management LLC bought a new stake in shares of Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 41,785 shares of the semiconductor company’s stock, valued at approximately $3,018,000.

Several other hedge funds have also made changes to their positions in LRCX. Centerpoint Advisors LLC grew its holdings in Lam Research by 900.0% during the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after acquiring an additional 900 shares in the last quarter. Transform Wealth LLC bought a new position in shares of Lam Research during the fourth quarter valued at approximately $17,269,000. E. Ohman J or Asset Management AB purchased a new position in Lam Research during the fourth quarter valued at approximately $4,258,000. Huntington National Bank raised its stake in Lam Research by 944.0% in the fourth quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company’s stock worth $21,291,000 after buying an additional 266,527 shares in the last quarter. Finally, Trust Co. of Oklahoma raised its stake in Lam Research by 904.2% in the fourth quarter. Trust Co. of Oklahoma now owns 25,778 shares of the semiconductor company’s stock worth $1,862,000 after buying an additional 23,211 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Stifel Nicolaus cut their price target on Lam Research from $100.00 to $92.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. TD Cowen dropped 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. 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 report on Thursday, April 24th. Jefferies Financial Group increased their price target on shares of Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, March 28th. Finally, Deutsche Bank Aktiengesellschaft set a $70.00 price target on shares of Lam Research and gave the company a “hold” rating in a report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.56.

Lam Research Stock Performance

LRCX opened at $84.43 on Monday. The firm has a fifty day moving average price of $72.35 and a 200 day moving average price of $75.47. Lam Research Co. has a 1 year low of $56.32 and a 1 year high of $113.00. The stock 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. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73.

Lam Research (NASDAQ:LRCX) last issued 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 net margin of 26.49% and a return on equity of 51.86%. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the firm posted $7.79 earnings per share. The company’s revenue was up 24.4% compared to the same quarter last year. Equities research analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current year.

Insider Activity

In related 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 completion of the transaction, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This represents a 38.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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.