Westhampton Capital LLC Makes New Investment in Lam Research Co. (NASDAQ:LRCX)

Westhampton Capital LLC purchased a new position in Lam Research Co. (NASDAQ:LRCX) during the second quarter, HoldingsChannel reports. The institutional investor purchased 2,905 shares of the semiconductor company’s stock, valued at approximately $546,000.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC lifted its stake in shares of Lam Research by 18.6% in the fourth quarter. Geode Capital Management LLC now owns 2,519,701 shares of the semiconductor company’s stock worth $342,720,000 after buying an additional 395,218 shares in the last quarter. Wedbush Securities Inc. bought a new position in shares of Lam Research in the first quarter worth approximately $259,000. Strs Ohio lifted its stake in shares of Lam Research by 2.8% in the first quarter. Strs Ohio now owns 43,240 shares of the semiconductor company’s stock worth $7,740,000 after buying an additional 1,181 shares in the last quarter. Brinker Capital Inc. lifted its stake in shares of Lam Research by 3.0% in the first quarter. Brinker Capital Inc. now owns 2,377 shares of the semiconductor company’s stock worth $426,000 after buying an additional 69 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of Lam Research in the first quarter worth approximately $3,026,000. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

In other Lam Research news, insider Seshasayee Varadarajan sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $200.00, for a total transaction of $4,000,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kevin Jennings sold 1,122 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $210.07, for a total transaction of $235,698.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,109 shares of company stock valued at $5,072,969. 0.44% of the stock is owned by corporate insiders.

Several brokerages have recently issued reports on LRCX. Cowen reiterated an “outperform” rating and issued a $235.00 target price (up previously from $223.00) on shares of Lam Research in a research note on Thursday, April 25th. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 target price on shares of Lam Research in a research note on Monday, August 5th. Wells Fargo & Co boosted their price objective on shares of Lam Research from $195.00 to $200.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. ValuEngine cut shares of Lam Research from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Goldman Sachs Group cut shares of Lam Research from a “buy” rating to a “neutral” rating in a report on Monday, July 22nd. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Lam Research has an average rating of “Hold” and a consensus price target of $224.69.

Shares of LRCX traded down $10.00 during mid-day trading on Friday, hitting $200.46. 71,079 shares of the company traded hands, compared to its average volume of 1,867,126. Lam Research Co. has a 1 year low of $122.64 and a 1 year high of $218.49. The stock has a market cap of $31.00 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 1.27 and a beta of 1.61. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.96 and a current ratio of 3.61. The stock has a 50-day moving average price of $199.24 and a two-hundred day moving average price of $188.58.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, July 31st. The semiconductor company reported $3.62 EPS for the quarter, beating the Zacks’ consensus estimate of $3.40 by $0.22. Lam Research had a net margin of 22.70% and a return on equity of 43.82%. The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same period in the prior year, the company earned $5.31 earnings per share. The firm’s revenue was down 24.5% on a year-over-year basis. On average, analysts forecast that Lam Research Co. will post 13.57 EPS for the current year.

About Lam Research

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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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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