Stoneridge Investment Partners LLC Grows Holdings in Lam Research Co. (LRCX)

Stoneridge Investment Partners LLC grew its position in Lam Research Co. (NASDAQ:LRCX) by 371.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,482 shares of the semiconductor company’s stock after acquiring an additional 16,923 shares during the quarter. Stoneridge Investment Partners LLC’s holdings in Lam Research were worth $2,925,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in LRCX. We Are One Seven LLC purchased a new position in Lam Research in the 4th quarter worth about $26,000. Duncker Streett & Co. Inc. increased its stake in Lam Research by 100.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 200 shares of the semiconductor company’s stock worth $27,000 after buying an additional 100 shares during the period. Csenge Advisory Group purchased a new position in Lam Research in the 3rd quarter worth about $35,000. IMS Capital Management purchased a new position in Lam Research in the 3rd quarter worth about $38,000. Finally, Parkside Financial Bank & Trust increased its stake in Lam Research by 44.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 347 shares of the semiconductor company’s stock worth $47,000 after buying an additional 107 shares during the period. 89.11% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Christine Heckart sold 2,050 shares of the firm’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $172.98, for a total value of $354,609.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kevin Jennings sold 1,692 shares of the firm’s stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $180.00, for a total transaction of $304,560.00. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by company insiders.

Several research firms recently commented on LRCX. B. Riley downgraded shares of Lam Research from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $225.00 to $160.00 in a research note on Monday, October 29th. Susquehanna Bancshares reaffirmed a “neutral” rating and issued a $165.00 price target (down previously from $225.00) on shares of Lam Research in a research note on Tuesday, October 23rd. Needham & Company LLC began coverage on shares of Lam Research in a research note on Friday, December 21st. They issued a “buy” rating and a $180.00 price target on the stock. ValuEngine raised shares of Lam Research from a “strong sell” rating to a “sell” rating in a research note on Wednesday, November 28th. Finally, KeyCorp reduced their price target on shares of Lam Research from $261.00 to $231.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 17th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $216.39.

NASDAQ LRCX traded up $0.81 during trading on Monday, reaching $176.11. 549,015 shares of the company’s stock traded hands, compared to its average volume of 3,462,952. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.61 and a current ratio of 3.39. The company has a market capitalization of $26.75 billion, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 1.05 and a beta of 1.50. Lam Research Co. has a 12-month low of $122.64 and a 12-month high of $234.88.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 23rd. The semiconductor company reported $3.87 earnings per share for the quarter, beating analysts’ consensus estimates of $3.67 by $0.20. Lam Research had a net margin of 26.69% and a return on equity of 48.08%. The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period last year, the business earned $4.34 EPS. The company’s revenue was down 2.2% compared to the same quarter last year. Equities analysts expect that Lam Research Co. will post 13.9 earnings per share for the current fiscal year.

Lam Research announced that its board has authorized a share repurchase plan on Wednesday, January 23rd that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 23% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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Lam Research Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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