Voloridge Investment Management LLC Acquires 1,327,900 Shares of Lam Research Co. (NASDAQ:LRCX)

Voloridge Investment Management LLC lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1,094.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,449,196 shares of the semiconductor company’s stock after purchasing an additional 1,327,900 shares during the period. Voloridge Investment Management LLC owned about 0.11% of Lam Research worth $104,675,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Centerpoint Advisors LLC grew its holdings in Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after acquiring an additional 900 shares during the last quarter. Transform Wealth LLC bought a new stake in Lam Research in the 4th quarter worth $17,269,000. E. Ohman J or Asset Management AB bought a new stake in Lam Research in the 4th quarter worth $4,258,000. Huntington National Bank grew its holdings in Lam Research by 944.0% in the 4th quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company’s stock worth $21,291,000 after acquiring an additional 266,527 shares during the last quarter. Finally, Trust Co. of Oklahoma grew its holdings in Lam Research by 904.2% in the 4th quarter. Trust Co. of Oklahoma now owns 25,778 shares of the semiconductor company’s stock worth $1,862,000 after acquiring an additional 23,211 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. The trade was a 38.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

LRCX has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their price target on shares of Lam Research from $100.00 to $92.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Oppenheimer cut their price target 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. UBS Group dropped their target price on shares of Lam Research from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Jefferies Financial Group raised their target price on shares of Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, March 28th. Finally, Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.56.

Lam Research Trading Down 0.7%

Shares of NASDAQ LRCX opened at $83.82 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The stock has a market cap of $107.22 billion, a P/E ratio of 25.46, a price-to-earnings-growth 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 has a 50-day moving average of $72.50 and a 200 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, topping the consensus estimate of $1.00 by $0.04. The business had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The business’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period in the previous year, the company earned $7.79 earnings per share. As a group, sell-side analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

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.