Icon Wealth Advisors LLC Increases Holdings in Lam Research Co. (NASDAQ:LRCX)

Icon Wealth Advisors LLC increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 11.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor 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 SEC filing.

Several other large investors have also added to or reduced their stakes in LRCX. Rockefeller Capital Management L.P. boosted its position in shares of Lam Research by 29.2% in the third quarter. Rockefeller Capital Management L.P. now owns 38,140 shares of the semiconductor company’s stock valued at $31,132,000 after acquiring an additional 8,626 shares during the period. Alkeon Capital Management LLC increased its stake in Lam Research by 12.7% in the third quarter. Alkeon Capital Management LLC now owns 442,967 shares of the semiconductor company’s stock valued at $361,497,000 after acquiring an additional 49,921 shares during the last quarter. Vinva Investment Management Ltd increased its position in shares of Lam Research by 25.3% during the 3rd quarter. Vinva Investment Management Ltd now owns 11,820 shares of the semiconductor company’s stock valued at $9,777,000 after purchasing an additional 2,383 shares during the last quarter. Financial Counselors Inc. grew its position in Lam Research by 6.5% during the third quarter. Financial Counselors Inc. now owns 11,142 shares of the semiconductor company’s stock valued at $9,093,000 after acquiring an additional 678 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in shares of Lam Research by 875.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 48,690 shares of the semiconductor company’s stock worth $39,735,000 after acquiring an additional 43,700 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

LRCX has been the subject of several recent research reports. Citigroup lowered their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. Morgan Stanley reduced their price target on Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. 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 report on Thursday, October 24th. Finally, BNP Paribas raised shares of Lam Research to a “hold” rating in a research 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’s stock. Based on data from MarketBeat, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $97.97.

Lam Research Stock Performance

Shares of LRCX opened at $71.57 on Friday. Lam Research Co. has a 52 week low of $68.72 and a 52 week high of $113.00. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The stock has a market cap of $92.09 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 1.14 and a beta of 1.48. The business has a 50-day simple moving average of $76.62 and a two-hundred day simple moving average of $86.79.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. Lam Research’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.85 earnings per share. On average, analysts expect that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio is presently 29.74%.

Insiders Place Their Bets

In other news, CAO Christina Correia sold 647 shares of the business’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 sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at $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 available at the SEC website. Corporate insiders own 0.29% of the company’s stock.

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.