CHICAGO TRUST Co NA Raises Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

CHICAGO TRUST Co NA boosted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 17.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,204 shares of the semiconductor company’s stock after acquiring an additional 486 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Lam Research were worth $2,615,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Raleigh Capital Management Inc. grew its holdings in shares of Lam Research by 78.6% in the fourth quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 22 shares during the last quarter. Beacon Financial Group bought a new position in Lam Research in the 4th quarter worth about $246,000. Integrated Advisors Network LLC increased its position in shares of Lam Research by 365.2% during the fourth quarter. Integrated Advisors Network LLC now owns 5,689 shares of the semiconductor company’s stock worth $4,456,000 after acquiring an additional 4,466 shares during the period. Centaurus Financial Inc. raised its stake in shares of Lam Research by 43.6% during the fourth quarter. Centaurus Financial Inc. now owns 563 shares of the semiconductor company’s stock valued at $441,000 after acquiring an additional 171 shares in the last quarter. Finally, Syon Capital LLC boosted its holdings in shares of Lam Research by 24.0% in the fourth quarter. Syon Capital LLC now owns 1,622 shares of the semiconductor company’s stock valued at $1,271,000 after purchasing an additional 314 shares during the period. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reduced their price objective on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Needham & Company LLC restated a “buy” rating and set a $113.00 price target on shares of Lam Research in a research note on Thursday, August 1st. UBS Group lowered their price objective on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Mizuho cut their target price on shares of 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, Morgan Stanley lowered their price target on shares of Lam Research from $92.90 to $77.40 and set an “equal weight” rating for the company in a research report on Tuesday, September 17th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $141.28.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Lam Research Price Performance

Shares of LRCX stock opened at $82.89 on Friday. The firm has a market capitalization of $10.84 billion, a price-to-earnings ratio of 3.05, a PEG ratio of 1.75 and a beta of 1.47. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The stock’s 50-day simple moving average is $94.96 and its 200-day simple moving average is $96.22. Lam Research Co. has a fifty-two week low of $57.44 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the previous year, the firm earned $0.60 EPS. Lam Research’s revenue was up 20.7% compared to the same quarter last year. As a group, equities analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 annualized dividend and a yield of 1.11%. Lam Research’s payout ratio is presently 3.38%.

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.