Is Lam Research Corporation (LRCX) a Good Long-Term Bet?

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SaltLight Capital, an investment management company, released its “SaltLight SNN Worldwide Flexible Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. The second quarter letter is discussing AI. The firm’s investment strategy for AI’s exciting future is guided by prudent caution. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Saltlight Capital highlighted stocks like Lam Research Corporation (NASDAQ:LRCX) in the second quarter 2023 investor letter. Headquartered in Fremont, California, Lam Research Corporation (NASDAQ:LRCX) manufactures and services wafer-processing semiconductor manufacturing equipment. On August 16, 2023, Lam Research Corporation (NASDAQ:LRCX) stock closed at $646.29 per share. One-month return of Lam Research Corporation (NASDAQ:LRCX) was 5.00%, and its shares gained 28.45% of their value over the last 52 weeks. Lam Research Corporation (NASDAQ:LRCX) has a market capitalization of $86.823 billion.

Saltlight Capital made the following comment about Lam Research Corporation (NASDAQ:LRCX) in its second quarter 2023 investor letter:

“Lam Research Corporation (NASDAQ:LRCX), a leading toolmaker for memory and logic semiconductor fabs, has demonstrated its resilience and competitive positioning in the semiconductor ecosystem. Chip densities are now approaching the limits of physics and Moore’s law is stretched to its atomic limitations. Future innovation is around 3D stacks of chips and advanced packaging. LAM has heavily invested in tools that push innovation at the atomic level. Despite this investment, it requires little shareholder capital to grow and therefore it returns capital through healthy dividends and share repurchases. LAM has been a wonderful performer for us over the last two years.”

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Lam Research Corporation (NASDAQ:LRCX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 69 hedge fund portfolios held Lam Research Corporation (NASDAQ:LRCX) at the end of second quarter which was 64 in the previous quarter.

We discussed Lam Research Corporation (NASDAQ:LRCX) in another article and shared the list of breakout stocks to buy. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.


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Disclosure: None. This article is originally published at Insider Monkey.