Lam Research Co. (NASDAQ:LRCX) Shares Bought by Circle Wealth Management LLC

Circle Wealth Management LLC raised its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 784.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,787 shares of the semiconductor company's stock after purchasing an additional 15,775 shares during the period. Circle Wealth Management LLC's holdings in Lam Research were worth $1,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Lam Research by 892.7% in the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock worth $8,724,498,000 after acquiring an additional 108,619,564 shares in the last quarter. FMR LLC grew its position in Lam Research by 1,032.6% during the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock worth $2,891,453,000 after purchasing an additional 36,496,689 shares during the last quarter. Ameriprise Financial Inc. grew its position in Lam Research by 950.5% during the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock worth $2,495,128,000 after purchasing an additional 31,255,726 shares during the last quarter. Geode Capital Management LLC increased its stake in Lam Research by 907.1% during the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock valued at $2,265,610,000 after purchasing an additional 28,307,499 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Lam Research in the fourth quarter worth $1,661,672,000. 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 the stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.29% of the stock is owned by company insiders.

Lam Research Price Performance

Shares of Lam Research stock traded up $0.53 during trading hours on Friday, reaching $75.43. 7,033,780 shares of the company's stock were exchanged, compared to its average volume of 12,217,311. The business has a fifty day moving average of $71.56 and a two-hundred day moving average of $75.20. The company has a market capitalization of $96.48 billion, a P/E ratio of 22.91, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 1 year low of $56.32 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Lam Research's quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.79 EPS. As a group, research analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LRCX. Mizuho raised their target price on Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Jefferies Financial Group increased their price target on shares of Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Sanford C. Bernstein upgraded shares of Lam Research from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. KeyCorp upgraded shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price objective on the stock in a research note on Friday, January 17th. Finally, B. Riley restated a "buy" rating on shares of Lam Research in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average 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.