5 Best Semiconductor Equipment Stocks to Buy

2. Lam Research Corporation (NASDAQ:LRCX)

Number of Hedge Fund Holders: 68

At the close of Q4 2022, 68 hedge funds were long Lam Research Corporation (NASDAQ:LRCX) and held positions worth $3 billion in the company. Of those, Alkeon Capital Management was the leading investor in the company and held a position worth $253.5 million.

Lam Research Corporation (NASDAQ:LRCX) reported strong earnings for the third quarter of fiscal 2023, on April 19. The company generated a revenue of $3.87 billion and beat Wall Street consensus by $22.27 million. The company reported an EPS of $6.99 and outperformed EPS estimates by $0.46.

This April, Mizuho revised its price target on Lam Research Corporation (NASDAQ:LRCX) to $520 from $525 and reiterated a Buy rating on the shares. The stock has returned 20.25% to investors on a year-to-date basis, as of April 26. Lam Research Corporation (NASDAQ:LRCX) is one of the best semiconductor equipment stocks to buy now.

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