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

Icon Wealth Advisors LLC lifted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 297.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm 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 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Jennison Associates LLC raised its position in Lam Research by 20.0% in the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after purchasing an additional 39,725 shares during the period. Creative Planning raised its holdings in shares of Lam Research by 2.5% during the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after buying an additional 1,146 shares during the period. 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 acquiring an additional 14,658 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Lam Research by 9.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock worth $278,165,000 after acquiring an additional 28,089 shares during the period. Finally, Benson Investment Management Company Inc. acquired a new stake in Lam Research in the third quarter valued at approximately $5,182,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Activity 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 shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. This represents a 13.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on LRCX shares. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Wells Fargo & Company cut their price objective on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report 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 note on Thursday, October 24th. Mizuho dropped their target price on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Finally, Citigroup reduced their price target on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Lam Research Stock Up 4.3 %

Shares of NASDAQ:LRCX opened at $73.05 on Friday. The company’s fifty day moving average is $76.97 and its two-hundred day moving average is $87.46. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. Lam Research Co. has a 1-year low of $68.72 and a 1-year high of $113.00. The stock has a market capitalization of $93.99 billion, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 1.12 and a beta of 1.48.

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, topping the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the prior year, the business earned $6.85 earnings per share. Lam Research’s quarterly revenue was up 19.7% on a year-over-year basis. Equities analysts anticipate that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is 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.