Dark Forest Capital Management LP Raises Stake in Lam Research Co. (NASDAQ:LRCX)

Dark Forest Capital Management LP boosted its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 1,692.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,478 shares of the semiconductor company's stock after acquiring an additional 11,782 shares during the period. Dark Forest Capital Management LP's holdings in Lam Research were worth $901,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Fairway Wealth LLC increased its holdings in Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after buying an additional 306 shares during the last quarter. Financial Perspectives Inc raised its position 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 acquiring an additional 309 shares in the last quarter. Atwood & Palmer Inc. purchased a new stake in Lam Research during the fourth quarter worth approximately $27,000. Midwest Capital Advisors LLC acquired a new position in Lam Research in the fourth quarter valued at approximately $27,000. Finally, Bell Investment Advisors Inc increased its stake in Lam Research by 836.6% in the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 343 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LRCX has been the subject of several recent analyst reports. KeyCorp upgraded shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price objective for the company in a research report on Friday, January 17th. UBS Group decreased their price objective on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Wells Fargo & Company dropped their price objective on Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a report on Thursday. Morgan Stanley boosted their target price on Lam Research from $81.00 to $82.00 and gave the company an "equal weight" rating in a report on Thursday. Finally, Mizuho raised their price target on Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $92.70.

Lam Research Price Performance

LRCX stock traded up $0.52 on Friday, reaching $71.42. 9,749,642 shares of the company's stock were exchanged, compared to its average volume of 12,130,700. The firm has a market cap of $91.68 billion, a PE ratio of 21.70, a P/E/G ratio of 1.47 and a beta of 1.52. Lam Research Co. has a twelve month low of $56.32 and a twelve month high of $113.00. The stock has a fifty day moving average of $73.15 and a 200-day moving average of $75.43. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The firm had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. As a group, equities analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.29%. The ex-dividend date was Wednesday, March 5th. Lam Research's dividend payout ratio (DPR) is 25.63%.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 179,084 shares of the company's stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.29% of the company's stock.

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.