Texas Capital Bank Wealth Management Services Inc Raises Stock Position in Lam Research Co. (NASDAQ:LRCX)

Texas Capital Bank Wealth Management Services Inc boosted its holdings in Lam Research Co. (NASDAQ:LRCX) by 2.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,911 shares of the semiconductor company’s stock after purchasing an additional 255 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in Lam Research were worth $8,088,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in LRCX. State Street Corp lifted its holdings in Lam Research by 1.6% during the 3rd quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock worth $4,817,113,000 after buying an additional 94,086 shares during the last quarter. Stevens Capital Management LP raised its holdings in shares of Lam Research by 112.4% during the third quarter. Stevens Capital Management LP now owns 427 shares of the semiconductor company’s stock worth $348,000 after purchasing an additional 226 shares during the period. Quantinno Capital Management LP grew its position in shares of Lam Research by 39.5% during the 3rd quarter. Quantinno Capital Management LP now owns 11,137 shares of the semiconductor company’s stock valued at $9,089,000 after buying an additional 3,152 shares during the last quarter. Royal London Asset Management Ltd. raised its stake in Lam Research by 3.0% during the third quarter. Royal London Asset Management Ltd. now owns 65,282 shares of the semiconductor company’s stock worth $53,275,000 after acquiring an additional 1,884 shares during the period. Finally, Rench Wealth Management Inc. lifted its holdings in Lam Research by 3.1% in the third quarter. Rench Wealth Management Inc. now owns 7,922 shares of the semiconductor company’s stock worth $6,465,000 after acquiring an additional 237 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LRCX. Mizuho cut their price target on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. UBS Group cut their price objective on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price target (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Finally, Morgan Stanley increased their price objective on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.34.

Lam Research Trading Down 3.9 %

Shares of NASDAQ LRCX opened at $75.21 on Friday. The business has a fifty day simple moving average of $76.42 and a 200-day simple moving average of $86.25. The company has a market cap of $96.77 billion, a price-to-earnings ratio of 24.31, a P/E/G ratio of 1.25 and a beta of 1.46. Lam Research Co. has a 12 month low of $68.87 and a 12 month 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.

Lam Research (NASDAQ:LRCX) last released its earnings results 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. The business had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period last year, the firm posted $6.85 earnings per share. Sell-side analysts predict that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be given a $0.23 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.22%. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of the business’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 transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.29% of the stock is owned by 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.