In this article, we will discuss the 5 latest stock picks of billionaire Steve Cohen. You can read our detailed analysis of Mr. Cohen and some of his other stock picks by checking out 10 Latest Stock Picks of Billionaire Steve Cohen.
5 Latest Stock Picks of Billionaire Steve Cohen
5. Lam Research Corporation (NASDAQ:LRCX)
Stake Value of Point72 Asset Management: $108,664,000
Percentage of Point72 Asset Management’s 13F Portfolio: 0.43%
Number of Hedge Fund Holders: 62
Lam Research Corporation (NASDAQ:LRCX) is a semiconductor company that designs, manufactures, markets, refurbishes, and services semiconductor processing equipment. In January, the company reported earnings per share of $8.53 for the fiscal second quarter of 2022, beating estimates by $0.02. In addition, Lam Research Corporation (NASDAQ:LRCX) generated quarterly revenue of $4.23 billion, up 22.29% year-over-year.
On February 10, 2022, Lam Research Corporation (NASDAQ:LRCX) announced that its board of directors had declared a quarterly cash dividend of $1.50 per share. The dividend is payable on April 6, 2022, to shareholders of record on March 16, 2022. The stock has a 5-year dividend growth rate of 32.91% and has announced dividend increases for seven consecutive years as of 2022.
This stock is one of the latest additions to Point72 Asset Managements investment portfolio, being added in Q4, and accounts for 0.43% of the value of the fund’s 13F holdings. Cohen was far from the only fund bullish on Lam Research Corporation (NASDAQ:LRCX) in Q4, as it was held by 62 hedge funds at the end of the quarter, with those positions valued at $5.02 billion. Those figures were up significantly, from 47 funds with $3.51 billion in LRCX shares a quarter earlier.
Vulcan Value Partners, an investment management firm, recently published its third quarter 2021 investor letter in which the firm mentioned Lam Research Corporation (NASDAQ:LRCX). Here’s what it had to say:
“Lam Research Corp. designs and manufactures equipment used in the fabrication of semiconductors. We would not invest in all companies in the semiconductor industry as many companies have more commoditized products. However, some of the semiconductor capital equipment companies are an exception. We purchased a competitor, Applied Materials, in the second quarter and purchased Lam Research this quarter. Consolidation within the industry has improved the company’s competitive position and key shifts in the industry are driving demand for more complex capital equipment. Among these shifts are an acceleration in the digital transformation of the global economy, the slowing of Moore’s law, and increased application of artificial intelligence (AI). The company generates robust free cash flow and has experienced strong and improving margins. We are delighted to have the opportunity to purchase Lam Research with a substantial margin of safety.”
