Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Tidal Investments LLC

Tidal Investments LLC increased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 214.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,838 shares of the semiconductor company’s stock after purchasing an additional 80,418 shares during the period. Tidal Investments LLC’s holdings in Lam Research were worth $8,511,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Lam Research by 892.7% during the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock worth $8,724,498,000 after purchasing an additional 108,619,564 shares in the last quarter. FMR LLC grew its stake in shares of Lam Research by 1,032.6% during the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock worth $2,891,453,000 after purchasing an additional 36,496,689 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Lam Research by 950.5% during the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock worth $2,495,128,000 after purchasing an additional 31,255,726 shares in the last quarter. Geode Capital Management LLC boosted its stake in Lam Research by 907.1% in the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock valued at $2,265,610,000 after acquiring an additional 28,307,499 shares in the last quarter. Finally, Norges Bank acquired a new position in Lam Research in the fourth quarter valued at $1,661,672,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Trading Down 0.7%

Shares of Lam Research stock opened at $83.82 on Tuesday. Lam Research Co. has a 12-month low of $56.32 and a 12-month high of $113.00. 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 cap of $107.22 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64. The company has a 50-day moving average of $72.50 and a two-hundred day moving average of $75.53.

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

Insider Buying and Selling at Lam Research

In other 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 transaction of $9,907,200.00. Following the completion of the transaction, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $16,117,560. This trade represents a 38.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Jefferies Financial Group upped their price objective on shares of Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, March 28th. Argus upgraded shares of Lam Research to a “strong-buy” rating in a research note on Friday, April 25th. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and upped their price objective for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. TD Securities decreased their price objective on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Finally, Evercore ISI upped their price objective on shares of Lam Research from $95.00 to $99.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.