Skye Global Management LP Invests $39.15 Million in Lam Research Co. (NASDAQ:LRCX)

Skye Global Management LP acquired a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 542,000 shares of the semiconductor company’s stock, valued at approximately $39,149,000. Lam Research comprises approximately 0.8% of Skye Global Management LP’s portfolio, making the stock its 21st largest holding.

Other large investors have also made changes to their positions in the company. Security National Bank of Sioux City Iowa IA acquired a new position in shares of Lam Research in the fourth quarter valued at approximately $528,000. Security National Bank of SO Dak acquired a new position in Lam Research in the 4th quarter valued at $477,000. Shell Asset Management Co. lifted its stake in shares of Lam Research by 895.5% during the 4th quarter. Shell Asset Management Co. now owns 60,947 shares of the semiconductor company’s stock worth $4,402,000 after purchasing an additional 54,825 shares during the period. Sherbrooke Park Advisers LLC boosted its holdings in shares of Lam Research by 1,065.5% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 24,698 shares of the semiconductor company’s stock worth $1,784,000 after purchasing an additional 22,579 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC grew its position in shares of Lam Research by 53,722.7% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 177,615 shares of the semiconductor company’s stock valued at $12,829,000 after purchasing an additional 177,285 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Price Performance

LRCX stock opened at $84.79 on Friday. The company has a market capitalization of $108.46 billion, a PE ratio of 25.76, a P/E/G ratio of 1.47 and a beta of 1.64. 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 stock’s 50 day moving average is $72.13 and its two-hundred day moving average is $75.43. Lam Research Co. has a 52-week low of $56.32 and a 52-week high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. The business had revenue of $4.72 billion during 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 business’s revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.79 earnings per share. Analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In related 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 transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. This represents a 38.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Needham & Company LLC decreased their price target on Lam Research from $96.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. TD Securities lowered their target price on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Mizuho lifted their target price on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Evercore ISI raised their price objective on Lam Research from $95.00 to $99.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Finally, Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.56.

Lam Research Company 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.