Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC boosted its position in Lam Research Co. (NASDAQ:LRCX) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,680 shares of the semiconductor company’s stock after purchasing an additional 77 shares during the quarter. Apollon Wealth Management LLC’s holdings in Lam Research were worth $2,099,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brown Advisory Inc. grew its position in Lam Research by 1.9% in the third quarter. Brown Advisory Inc. now owns 4,357 shares of the semiconductor company’s stock worth $2,731,000 after acquiring an additional 82 shares during the period. Verdence Capital Advisors LLC acquired a new stake in shares of Lam Research during the 3rd quarter worth about $621,000. BluePath Capital Management LLC purchased a new stake in Lam Research in the 3rd quarter valued at about $28,000. Chicago Partners Investment Group LLC lifted its position in Lam Research by 7.1% in the third quarter. Chicago Partners Investment Group LLC now owns 1,039 shares of the semiconductor company’s stock valued at $623,000 after buying an additional 69 shares during the last quarter. Finally, Advisor Partners II LLC increased its position in shares of Lam Research by 3.1% during the third quarter. Advisor Partners II LLC now owns 6,901 shares of the semiconductor company’s stock valued at $4,325,000 after acquiring an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of NASDAQ LRCX traded down $9.22 during trading on Wednesday, hitting $905.69. 131,530 shares of the company were exchanged, compared to its average volume of 1,048,620. The firm’s fifty day moving average price is $940.71 and its 200 day moving average price is $824.74. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84. The company has a market cap of $118.41 billion, a price-to-earnings ratio of 33.65, a PEG ratio of 2.82 and a beta of 1.51. Lam Research Co. has a 1 year low of $512.09 and a 1 year high of $1,007.39.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company posted $6.99 earnings per share. On average, sell-side analysts expect that Lam Research Co. will post 29.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider George M. Schisler sold 400 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $908.21, for a total transaction of $363,284.00. Following the completion of the transaction, the insider now directly owns 5,661 shares of the company’s stock, valued at approximately $5,141,376.81. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Patrick J. Lord sold 60 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $921.54, for a total value of $55,292.40. Following the completion of the transaction, the executive vice president now owns 4,454 shares of the company’s stock, valued at $4,104,539.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider George M. Schisler sold 400 shares of Lam Research stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $908.21, for a total transaction of $363,284.00. Following the completion of the sale, the insider now directly owns 5,661 shares of the company’s stock, valued at $5,141,376.81. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,489 shares of company stock worth $6,978,065. Insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LRCX. Barclays increased their price objective on shares of Lam Research from $825.00 to $865.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. Stifel Nicolaus lifted their target price on Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Mizuho upped their target price on Lam Research from $935.00 to $960.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. TD Cowen boosted their price objective on Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Lam Research in a research report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $950.85.

Lam Research 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.