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

Cresset Asset Management LLC increased its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 189.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,264 shares of the semiconductor company's stock after acquiring 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 reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Lam Research by 892.7% during the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock valued at $8,724,498,000 after purchasing an additional 108,619,564 shares during the last quarter. FMR LLC lifted its stake in Lam Research by 1,032.6% during the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock valued at $2,891,453,000 after purchasing an additional 36,496,689 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Lam Research by 950.5% in the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock valued at $2,495,128,000 after acquiring an additional 31,255,726 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Lam Research by 907.1% in 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 acquiring an additional 28,307,499 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Lam Research in the 4th quarter valued at approximately $1,661,672,000. 84.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on LRCX shares. UBS Group reduced their price target on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Susquehanna upgraded shares of Lam Research from a "neutral" rating to a "positive" rating and increased their target price for the stock from $75.00 to $125.00 in a research report on Thursday, February 20th. Evercore ISI increased their target price on shares of Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Oppenheimer cut their target price on shares of Lam Research from $95.00 to $80.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Finally, Bank of America dropped their price target on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Lam Research presently has an average rating of "Moderate Buy" and a consensus target price of $91.56.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction dated 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 completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is owned by insiders.

Lam Research Stock Performance

NASDAQ LRCX traded up $6.89 during midday trading on Monday, hitting $82.25. The company had a trading volume of 17,453,569 shares, compared to its average volume of 12,238,269. 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 stock has a market cap of $105.21 billion, a price-to-earnings ratio of 24.98, a P/E/G ratio of 1.47 and a beta of 1.64. The firm has a fifty day simple moving average of $71.62 and a two-hundred day simple moving average of $75.23. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The business's quarterly revenue was up 24.4% on a year-over-year basis. During the same period last year, the business posted $7.79 EPS. Equities analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

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.