NorthRock Partners LLC Purchases Shares of 13,621 Lam Research Co. (NASDAQ:LRCX)

NorthRock Partners LLC purchased a new stake in Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 13,621 shares of the semiconductor company’s stock, valued at approximately $984,000.

Other large investors have also recently bought and sold shares of the company. Financial Perspectives Inc grew its stake in Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after buying an additional 309 shares during the last quarter. Fairway Wealth LLC grew its position in Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 306 shares during the last quarter. Atwood & Palmer Inc. bought a new stake in Lam Research during the 4th quarter worth approximately $27,000. Midwest Capital Advisors LLC bought a new stake in shares of Lam Research during the fourth quarter worth $27,000. Finally, West Paces Advisors Inc. bought a new stake in shares of Lam Research during the fourth quarter worth $27,000. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Performance

Shares of LRCX opened at $84.97 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research Co. has a twelve month low of $56.32 and a twelve month high of $113.00. The firm’s 50 day moving average price is $71.91 and its two-hundred day moving average price is $75.36. The firm has a market cap of $108.69 billion, a P/E ratio of 25.81, a PEG ratio of 1.47 and a beta of 1.64.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. The business had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The firm’s revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.79 EPS. On average, analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LRCX has been the topic of several research analyst reports. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a research note on Friday, January 17th. TD Cowen decreased their price objective on Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Jefferies Financial Group increased their price objective on Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, March 28th. Bank of America decreased their price target on Lam Research from $110.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Finally, Needham & Company LLC decreased their price target on Lam Research from $96.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock 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 company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.29% of the stock is currently owned by insiders.

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.