Cresset Asset Management LLC Acquires 18,499 Shares of Lam Research Co. (NASDAQ:LRCX)

Cresset Asset Management LLC increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 189.4% during the fourth quarter, Holdings Channel.com reports. The firm 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 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Financial Perspectives Inc increased its holdings in shares of Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 309 shares during the period. Fairway Wealth LLC boosted its position in Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 306 shares in the last quarter. Atwood & Palmer Inc. purchased a new position in Lam Research in the fourth quarter valued at about $27,000. Midwest Capital Advisors LLC bought a new position in Lam Research in the fourth quarter worth about $27,000. Finally, West Paces Advisors Inc. purchased a new stake in shares of Lam Research during the fourth quarter valued at about $27,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the sale, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Lam Research Stock Up 0.7 %

Shares of LRCX stock opened at $75.43 on Friday. The stock has a market cap of $96.48 billion, a P/E ratio of 22.91, a P/E/G ratio of 1.47 and a beta of 1.64. Lam Research Co. has a twelve month low of $56.32 and a twelve month high of $113.00. The stock has a 50 day moving average of $71.56 and a 200 day moving average of $75.19. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating 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 company had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the previous year, the company earned $7.79 earnings per share. The firm’s revenue for the quarter was up 24.4% on a year-over-year basis. As a group, sell-side analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on LRCX shares. Wells Fargo & Company reduced their price objective on shares of Lam Research from $85.00 to $75.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Argus raised Lam Research to a “strong-buy” rating in a research report on Friday, April 25th. Jefferies Financial Group boosted their target price on Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, March 28th. UBS Group reduced their target price on Lam Research from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price target on shares of Lam Research in a research note on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.56.

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.