Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Rafferty Asset Management LLC

Rafferty Asset Management LLC grew its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 803.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,391,132 shares of the semiconductor company’s stock after purchasing an additional 3,905,272 shares during the quarter. Lam Research makes up about 1.1% of Rafferty Asset Management LLC’s holdings, making the stock its 15th biggest position. Rafferty Asset Management LLC owned 0.34% of Lam Research worth $317,171,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LRCX. Brookstone Capital Management raised its holdings in Lam Research by 339.3% during the fourth quarter. Brookstone Capital Management now owns 18,762 shares of the semiconductor company’s stock worth $1,355,000 after purchasing an additional 14,491 shares in the last quarter. Salem Investment Counselors Inc. raised its holdings in Lam Research by 893.3% during the fourth quarter. Salem Investment Counselors Inc. now owns 4,470 shares of the semiconductor company’s stock worth $324,000 after purchasing an additional 4,020 shares in the last quarter. One Charles Private Wealth Services LLC increased its holdings in shares of Lam Research by 843.4% in the 4th quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company’s stock valued at $289,000 after acquiring an additional 3,576 shares during the period. Claro Advisors LLC increased its holdings in shares of Lam Research by 483.3% in the 4th quarter. Claro Advisors LLC now owns 3,074 shares of the semiconductor company’s stock valued at $222,000 after acquiring an additional 2,547 shares during the period. Finally, Miracle Mile Advisors LLC acquired a new position in shares of Lam Research in the 4th quarter valued at $376,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was 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 approximately $16,117,560. This represents a 38.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Lam Research Stock Performance

Lam Research stock opened at $84.97 on Thursday. The stock has a market cap of $108.69 billion, a P/E ratio of 25.81, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64. 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 50 day moving average of $71.91 and a 200-day moving average of $75.36. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00.

Lam Research (NASDAQ:LRCX) last released its 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. The company had revenue of $4.72 billion during 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 revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the business posted $7.79 EPS. On average, analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LRCX has been the topic of a number of recent research reports. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Barclays lowered their price objective on shares of Lam Research from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Oppenheimer lowered their price objective on shares of Lam Research from $95.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Morgan Stanley boosted their target price on shares of Lam Research from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 24th. Finally, Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $75.00 to $125.00 in a research report on Thursday, February 20th. Seven 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 data from MarketBeat.com, 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.