Icon Wealth Advisors LLC Has $1.81 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

Icon Wealth Advisors LLC increased its stake in Lam Research Co. (NASDAQ:LRCX) by 11.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,217 shares of the semiconductor company’s stock after purchasing an additional 220 shares during the period. Icon Wealth Advisors LLC’s holdings in Lam Research were worth $1,809,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC lifted its position in Lam Research by 20.0% during the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after buying an additional 39,725 shares in the last quarter. Creative Planning lifted its position in Lam Research by 2.5% during the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after buying an additional 1,146 shares in the last quarter. Vest Financial LLC lifted its position in Lam Research by 68.7% during the 3rd quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after buying an additional 14,658 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Lam Research by 9.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock worth $278,165,000 after buying an additional 28,089 shares in the last quarter. Finally, Benson Investment Management Company Inc. bought a new stake in Lam Research during the 3rd quarter worth about $5,182,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on LRCX. Wells Fargo & Company cut their price target on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Citigroup dropped their target price on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a report on Monday, September 16th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $100.00 target price (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Finally, BNP Paribas raised shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.97.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the sale, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. The trade was a 13.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.29% of the company’s stock.

Lam Research Price Performance

LRCX stock opened at $71.57 on Friday. Lam Research Co. has a 1 year low of $68.72 and a 1 year high of $113.00. 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 stock has a market cap of $92.09 billion, a price-to-earnings ratio of 23.13, a P/E/G ratio of 1.14 and a beta of 1.48. The company has a 50 day simple moving average of $76.62 and a 200 day simple moving average of $86.79.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter last year, the business posted $6.85 EPS. Lam Research’s revenue for the quarter was up 19.7% on a year-over-year basis. Research analysts anticipate that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.29%. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

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.