TrinityPoint Wealth LLC Buys New Holdings in Lam Research Co. (NASDAQ:LRCX)

TrinityPoint Wealth LLC bought a new stake in shares of Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, Holdings Channel.com reports. The firm bought 15,722 shares of the semiconductor company’s stock, valued at approximately $1,136,000.

Several other institutional investors also recently bought and sold shares of the stock. State of Wyoming purchased a new stake in Lam Research during the 4th quarter valued at about $475,000. Strategic Wealth Partners Ltd. lifted its holdings in Lam Research by 918.8% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 7,570 shares of the semiconductor company’s stock worth $547,000 after buying an additional 6,827 shares during the period. Summit Street Capital Management LLC lifted its holdings in Lam Research by 900.0% in the 4th quarter. Summit Street Capital Management LLC now owns 108,890 shares of the semiconductor company’s stock worth $7,865,000 after buying an additional 98,001 shares during the period. Tema Etfs LLC purchased a new stake in Lam Research in the 4th quarter worth approximately $452,000. Finally, Toronto Dominion Bank lifted its holdings in Lam Research by 612.6% in the 4th quarter. Toronto Dominion Bank now owns 510,174 shares of the semiconductor company’s stock worth $36,849,000 after buying an additional 438,576 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions 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 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 of the company’s stock, valued at approximately $16,117,560. The trade was a 38.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

Lam Research Price Performance

NASDAQ:LRCX opened at $84.43 on Friday. 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’s 50-day simple moving average is $72.35 and its two-hundred day simple moving average is $75.46. The stock has a market cap of $108.00 billion, a PE ratio of 25.65, a P/E/G ratio of 1.47 and a beta of 1.64. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly 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 business had revenue of $4.72 billion for 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%. The business’s quarterly revenue was up 24.4% on a year-over-year basis. During the same period last year, the firm earned $7.79 earnings per share. As a group, analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Stifel Nicolaus dropped their price objective on Lam Research from $100.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Barclays dropped their price objective on Lam Research from $75.00 to $70.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. B. Riley reiterated a “buy” rating on shares of Lam Research in a report on Thursday, April 24th. Mizuho increased their price objective on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Finally, TD Securities dropped their price objective on Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $91.56.

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.