Chicago Partners Investment Group LLC Increases Position in Lam Research Co. (NASDAQ:LRCX)

Chicago Partners Investment Group LLC boosted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 946.5% during the third quarter, HoldingsChannel.com reports. The firm owned 11,082 shares of the semiconductor company’s stock after purchasing an additional 10,023 shares during the period. Chicago Partners Investment Group LLC’s holdings in Lam Research were worth $9,044,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of LRCX. CarsonAllaria Wealth Management Ltd. acquired a new stake in Lam Research in the 2nd quarter worth about $32,000. RFP Financial Group LLC boosted its stake in shares of 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 during the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Lam Research in the second quarter worth approximately $40,000. Country Trust Bank purchased a new stake in shares of Lam Research during the second quarter worth approximately $43,000. Finally, MFA Wealth Advisors LLC purchased a new position in Lam Research in the 2nd quarter valued at $45,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of the company’s 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 sale, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX stock opened at $74.80 on Friday. Lam Research Co. has a one year low of $61.82 and a one year high of $113.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The firm’s 50 day moving average price is $78.15 and its 200-day moving average price is $89.03. The firm has a market cap of $96.24 billion, a P/E ratio of 24.18, a P/E/G ratio of 1.22 and a beta of 1.47.

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

Lam Research Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.23%. Lam Research’s dividend payout ratio is presently 29.74%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on LRCX shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Wells Fargo & Company dropped 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. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 target price (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. UBS Group dropped their price target on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Finally, BNP Paribas upgraded 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 fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

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.