Icon Wealth Advisors LLC Boosts Stock Position in Lam Research Co. (NASDAQ:LRCX)

Icon Wealth Advisors LLC raised its stake in Lam Research Co. (NASDAQ:LRCX) by 297.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,939 shares of the semiconductor company’s stock after purchasing an additional 5,942 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Lam Research were worth $6,479,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of LRCX. Fortitude Family Office LLC lifted its position in Lam Research by 16.7% in the second quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock valued at $67,000 after purchasing an additional 9 shares during the period. Thomasville National Bank lifted its holdings in shares of Lam Research by 1.5% in the 2nd quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock valued at $865,000 after buying an additional 12 shares during the period. Ignite Planners LLC boosted its stake in shares of Lam Research by 2.8% in the second quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock valued at $484,000 after buying an additional 12 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its holdings in Lam Research by 3.7% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock worth $357,000 after acquiring an additional 12 shares during the period. Finally, RFP Financial Group LLC raised its position in Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 12 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LRCX. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Wells Fargo & Company reduced their price objective on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Finally, B. Riley lowered their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and an average target price of $97.03.

Lam Research Stock Performance

NASDAQ:LRCX opened at $73.05 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The firm has a market cap of $93.99 billion, a PE ratio of 23.61, a P/E/G ratio of 1.12 and a beta of 1.48. The firm has a 50 day simple moving average of $76.97 and a 200-day simple moving average of $87.46. Lam Research Co. has a 1-year low of $68.72 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating 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 company had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same period in the previous year, the firm posted $6.85 EPS. Lam Research’s revenue was up 19.7% on a year-over-year basis. On average, equities analysts expect that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Wednesday, December 11th. Lam Research’s payout ratio is 29.74%.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is owned by company insiders.

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.