Delta Investment Management LLC Buys New Stake in Lam Research Co. (NASDAQ:LRCX)

Delta Investment Management LLC bought a new stake in Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 4,848 shares of the semiconductor company’s stock, valued at approximately $350,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. McLean Asset Management Corp grew its stake in Lam Research by 6.3% in the 4th quarter. McLean Asset Management Corp now owns 5,122 shares of the semiconductor company’s stock valued at $370,000 after buying an additional 302 shares during the last quarter. Fairway Wealth LLC increased its holdings in shares of Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 306 shares during the period. Financial Perspectives Inc increased its holdings in shares of Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 309 shares during the period. Bell Investment Advisors Inc increased its holdings in shares of Lam Research by 836.6% during the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 343 shares during the period. Finally, Country Trust Bank increased its holdings in shares of Lam Research by 900.0% during the 4th quarter. Country Trust Bank now owns 400 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 360 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s 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 legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

LRCX has been the topic of several research reports. 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. Barclays dropped 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 report on Tuesday, April 22nd. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. 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 analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.56.

Lam Research Price Performance

NASDAQ:LRCX opened at $84.29 on Wednesday. The firm has a market cap of $107.82 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64. Lam Research Co. has a 12 month low of $56.32 and a 12 month high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $72.68 and its two-hundred day moving average price is $75.59.

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 analysts’ consensus estimates of $1.00 by $0.04. The firm had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The company’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 business earned $7.79 earnings per share. On average, equities analysts anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal 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.