Apollon Wealth Management LLC Acquires 155 Shares of Lam Research Co. (NASDAQ:LRCX)

Apollon Wealth Management LLC raised its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 5.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,259 shares of the semiconductor company’s stock after acquiring an additional 155 shares during the period. Apollon Wealth Management LLC’s holdings in Lam Research were worth $2,660,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. CarsonAllaria Wealth Management Ltd. purchased a new stake in Lam Research in the second quarter worth approximately $32,000. RFP Financial Group LLC boosted its stake in shares of Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after buying an additional 12 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in Lam Research during the second quarter valued at $40,000. Country Trust Bank bought a new position in Lam Research in the second quarter valued at about $43,000. Finally, MFA Wealth Advisors LLC bought a new position in Lam Research in the second quarter valued at about $45,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on LRCX. Wells Fargo & Company reduced their price target on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. TD Cowen boosted their price objective on shares of Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. B. Riley decreased their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, Morgan Stanley cut their price target on Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $97.03.

Insider Activity at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is currently owned by insiders.

Lam Research Stock Performance

LRCX opened at $73.85 on Thursday. The stock has a market capitalization of $95.02 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 1.20 and a beta of 1.48. Lam Research Co. has a fifty-two week low of $68.39 and a fifty-two week high of $113.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The company has a fifty day moving average of $77.42 and a 200 day moving average of $88.34.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The firm had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same period in the previous year, the firm posted $6.85 earnings per share. The business’s revenue was up 19.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

About Lam Research

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.