Illinois Municipal Retirement Fund bought a new position in Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,839 shares of the semiconductor company’s stock, valued at approximately $830,000.
A number of other institutional investors have also recently added to or reduced their stakes in LRCX. Allred Capital Management LLC bought a new position in Lam Research in the 4th quarter worth approximately $30,000. Marquette Asset Management LLC bought a new position in Lam Research in the 3rd quarter worth approximately $35,000. Corbenic Partners LLC bought a new position in Lam Research in the 4th quarter worth approximately $47,000. Tarbox Family Office Inc. boosted its stake in Lam Research by 40.5% in the 4th quarter. Tarbox Family Office Inc. now owns 184 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 53 shares during the period. Finally, TCI Wealth Advisors Inc. boosted its stake in Lam Research by 329.2% in the 4th quarter. TCI Wealth Advisors Inc. now owns 206 shares of the semiconductor company’s stock worth $60,000 after purchasing an additional 158 shares during the period. 86.91% of the stock is owned by institutional investors.
In related news, CEO Timothy Archer sold 10,000 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $270.00, for a total transaction of $2,700,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mansy Youssef A. El sold 1,350 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $325.10, for a total value of $438,885.00. The disclosure for this sale can be found here. Insiders have sold a total of 58,622 shares of company stock worth $17,056,266 in the last 90 days. 0.43% of the stock is currently owned by insiders.
Several research firms have weighed in on LRCX. DA Davidson upgraded Lam Research from a “neutral” rating to a “buy” rating and set a $350.00 price target for the company in a research note on Thursday, January 30th. B. Riley upped their price target on Lam Research from $360.00 to $365.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Susquehanna Bancshares upgraded Lam Research from a “neutral” rating to a “positive” rating and increased their target price for the company from $220.00 to $400.00 in a research report on Thursday, January 30th. Deutsche Bank increased their target price on Lam Research from $260.00 to $320.00 and gave the company a “hold” rating in a research report on Monday, January 27th. Finally, Credit Suisse Group increased their target price on Lam Research from $300.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $321.29.
NASDAQ:LRCX opened at $339.30 on Friday. The stock’s fifty day moving average is $304.77 and its 200 day moving average is $258.79. Lam Research Co. has a fifty-two week low of $163.60 and a fifty-two week high of $344.32. The firm has a market capitalization of $49.72 billion, a PE ratio of 23.54, a PEG ratio of 1.15 and a beta of 1.64. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.70 and a current ratio of 3.30.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $4.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.85 by $0.16. Lam Research had a return on equity of 45.72% and a net margin of 21.67%. The company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the prior year, the firm posted $3.87 EPS. Lam Research’s quarterly revenue was up 19.3% compared to the same quarter last year. Equities analysts forecast that Lam Research Co. will post 16.82 EPS for the current year.
Lam Research Company Profile
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.
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