Cresset Asset Management LLC Boosts Holdings in Lam Research Co. (NASDAQ:LRCX)

Cresset Asset Management LLC raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 189.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,264 shares of the semiconductor company’s stock after buying an additional 18,499 shares during the period. Cresset Asset Management LLC’s holdings in Lam Research were worth $2,046,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in LRCX. Financial Perspectives Inc grew its holdings in Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 309 shares during the period. Fairway Wealth LLC grew its stake in shares of Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 306 shares during the period. Atwood & Palmer Inc. purchased a new stake in Lam Research in the 4th quarter worth approximately $27,000. Midwest Capital Advisors LLC bought a new stake in Lam Research during the 4th quarter worth approximately $27,000. Finally, West Paces Advisors Inc. purchased a new position in Lam Research during the fourth quarter valued at approximately $27,000. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Up 0.7 %

Shares of LRCX opened at $75.43 on Friday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The business has a fifty day moving average of $71.56 and a 200 day moving average of $75.19. The company has a market cap of $96.48 billion, a PE ratio of 22.91, a P/E/G ratio of 1.47 and a beta of 1.64. Lam Research Co. has a 52-week low of $56.32 and a 52-week high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the previous year, the company earned $7.79 EPS. The firm’s revenue for the quarter was up 24.4% compared to the same quarter last year. On average, sell-side analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LRCX. Wells Fargo & Company decreased their price objective on shares of Lam Research from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Bank of America decreased their price target on Lam Research from $110.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on Lam Research and gave the stock a “hold” rating in a research note on Thursday, April 24th. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Finally, Evercore ISI increased their price objective on shares of Lam Research from $95.00 to $99.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.56.

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 transaction, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

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.