Gotham Asset Management LLC Purchases 152,840 Shares of Lam Research Co. (NASDAQ:LRCX)

Gotham Asset Management LLC increased its position in Lam Research Co. (NASDAQ:LRCX) by 861.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 170,583 shares of the semiconductor company’s stock after buying an additional 152,840 shares during the period. Gotham Asset Management LLC’s holdings in Lam Research were worth $12,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of LRCX. Financial Perspectives Inc raised its holdings in Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 309 shares during the period. Fairway Wealth LLC raised its holdings in Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 306 shares during the period. Atwood & Palmer Inc. bought a new position in Lam Research in the 4th quarter worth $27,000. Midwest Capital Advisors LLC bought a new position in Lam Research in the 4th quarter worth $27,000. Finally, West Paces Advisors Inc. bought a new position in shares of Lam Research during the 4th quarter worth about $27,000. Institutional investors own 84.61% of the company’s stock.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction 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 $16,117,560. This represents a 38.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by insiders.

Lam Research Price Performance

Shares of Lam Research stock opened at $75.43 on Monday. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $96.48 billion, a price-to-earnings ratio of 22.91, a P/E/G ratio of 1.47 and a beta of 1.64. Lam Research Co. has a 1-year low of $56.32 and a 1-year high of $113.00. The firm’s 50-day moving average price is $71.56 and its two-hundred day moving average price is $75.19.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the prior year, the firm earned $7.79 earnings per share. Lam Research’s revenue was up 24.4% compared to the same quarter last year. On average, equities analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on LRCX shares. Evercore ISI boosted their price objective on shares of Lam Research from $95.00 to $99.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Bank of America dropped their price objective on shares of Lam Research from $110.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Oppenheimer dropped their price objective on shares of Lam Research from $95.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Argus upgraded shares of Lam Research to a “strong-buy” rating in a report on Friday, April 25th. Finally, UBS Group dropped their price objective on shares of Lam Research from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $91.56.

About Lam Research

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.