Concentric Capital Strategies LP Purchases Shares of 184,681 Lam Research Co. (NASDAQ:LRCX)

Concentric Capital Strategies LP bought a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 184,681 shares of the semiconductor company’s stock, valued at approximately $13,340,000. Lam Research accounts for approximately 0.6% of Concentric Capital Strategies LP’s portfolio, making the stock its 24th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC grew its stake in Lam Research by 994.9% during the 4th quarter. CWA Asset Management Group LLC now owns 31,720 shares of the semiconductor company’s stock valued at $2,291,000 after acquiring an additional 28,823 shares in the last quarter. Fortem Financial Group LLC boosted its position in shares of Lam Research by 928.9% during the fourth quarter. Fortem Financial Group LLC now owns 3,910 shares of the semiconductor company’s stock worth $282,000 after buying an additional 3,530 shares during the period. Diversified Trust Co lifted its position in shares of Lam Research by 8.3% during the fourth quarter. Diversified Trust Co now owns 3,741 shares of the semiconductor company’s stock worth $270,000 after purchasing an additional 286 shares in the last quarter. Stonehearth Capital Management LLC boosted its position in Lam Research by 802.3% in the 4th quarter. Stonehearth Capital Management LLC now owns 2,788 shares of the semiconductor company’s stock valued at $201,000 after buying an additional 2,479 shares during the period. Finally, Rise Advisors LLC acquired a new position in Lam Research during the 4th quarter worth $54,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction that occurred on 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 approximately $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 SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

LRCX has been the topic of several research analyst reports. Needham & Company LLC cut their price target on shares of Lam Research from $96.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Mizuho raised their price objective on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. TD Securities dropped their price target on Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Oppenheimer lowered their target price on Lam Research from $95.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Finally, Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Seven equities research 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.56.

Lam Research Stock Down 1.0 %

Shares of NASDAQ LRCX opened at $73.16 on Wednesday. Lam Research Co. has a 52-week low of $56.32 and a 52-week high of $113.00. 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 company’s 50 day moving average price is $71.62 and its 200-day moving average price is $75.16. The company has a market capitalization of $93.58 billion, a P/E ratio of 22.22, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The firm had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period last year, the firm posted $7.79 EPS. The business’s revenue was up 24.4% compared to the same quarter last year. Equities analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current year.

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.