Apollon Wealth Management LLC Raises Stock Position in Lam Research Corporation (NASDAQ:LRCX)

Apollon Wealth Management LLC raised its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 32.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,718 shares of the semiconductor company's stock after acquiring an additional 7,541 shares during the quarter. Apollon Wealth Management LLC's holdings in Lam Research were worth $2,233,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Huntington National Bank boosted its holdings in Lam Research by 944.0% during the fourth quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock worth $21,291,000 after purchasing an additional 266,527 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of Lam Research by 781.9% during the 4th quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company's stock valued at $23,920,000 after buying an additional 293,619 shares in the last quarter. Pinnacle Financial Partners Inc bought a new stake in Lam Research in the first quarter worth $201,000. B. Riley Wealth Advisors Inc. purchased a new position in Lam Research in the 4th quarter worth approximately $6,296,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in Lam Research by 27.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,505 shares of the semiconductor company's stock worth $3,607,000 after buying an additional 10,565 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Price Performance

Shares of LRCX stock traded up $0.34 during trading hours on Thursday, reaching $100.71. The company had a trading volume of 5,692,049 shares, compared to its average volume of 12,362,246. The stock has a fifty day moving average of $90.08 and a 200-day moving average of $80.43. The company has a market capitalization of $128.82 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.43 and a beta of 1.68. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. Lam Research Corporation has a 12-month low of $56.32 and a 12-month high of $102.19.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The firm had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. 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 posted $7.79 earnings per share. On average, equities analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were issued a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.91%. Lam Research's dividend payout ratio is currently 25.63%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Needham & Company LLC lowered their price objective on Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Barclays cut their target price on shares of Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company increased their price target on shares of Lam Research from $75.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. TD Cowen cut their price target on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, KeyCorp upped their target price on shares of Lam Research from $105.00 to $115.00 and gave the stock an "overweight" rating in a research report on Tuesday. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $99.14.

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.