Apollon Wealth Management LLC Acquires 19,918 Shares of Lam Research Co. (NASDAQ:LRCX)

Apollon Wealth Management LLC lifted its holdings in Lam Research Co. (NASDAQ:LRCX) by 611.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,177 shares of the semiconductor company’s stock after acquiring an additional 19,918 shares during the period. Apollon Wealth Management LLC’s holdings in Lam Research were worth $1,674,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Lam Research by 2,400.0% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock worth $163,000 after acquiring an additional 192 shares during the last quarter. Insight Wealth Partners LLC bought a new stake in Lam Research in the third quarter worth about $202,000. B&L Asset Management LLC bought a new position in shares of Lam Research during the third quarter valued at approximately $204,000. CWC Advisors LLC. bought a new position in Lam Research in the 3rd quarter valued at $220,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Lam Research in the third quarter worth about $220,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX opened at $83.73 on Tuesday. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The firm has a market cap of $107.48 billion, a PE ratio of 25.43, a P/E/G ratio of 1.37 and a beta of 1.46. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The stock has a fifty day moving average price of $76.92 and a 200-day moving average price of $78.06.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Equities research analysts predict that Lam Research Co. will post 3.69 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.10%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is presently 27.95%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LRCX. The Goldman Sachs Group decreased their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. Cantor Fitzgerald upgraded Lam Research from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $95.00 to $100.00 in a report on Thursday, January 30th. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Barclays decreased their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Finally, BNP Paribas raised Lam Research to a “hold” rating in a research report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.72.

Lam Research Company 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.