Chicago Partners Investment Group LLC Buys 10,023 Shares of Lam Research Co. (NASDAQ:LRCX)

Chicago Partners Investment Group LLC raised its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 946.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. J.W. Cole Advisors Inc. raised its position in shares of Lam Research by 28.9% during the 1st quarter. J.W. Cole Advisors Inc. now owns 401 shares of the semiconductor company’s stock valued at $391,000 after buying an additional 90 shares in the last quarter. Resonant Capital Advisors LLC raised its position in Lam Research by 7.2% during the first quarter. Resonant Capital Advisors LLC now owns 788 shares of the semiconductor company’s stock valued at $767,000 after purchasing an additional 53 shares during the period. Choreo LLC lifted its stake in shares of Lam Research by 4.2% in the 1st quarter. Choreo LLC now owns 471 shares of the semiconductor company’s stock valued at $457,000 after purchasing an additional 19 shares during the last quarter. BNP Paribas bought a new position in shares of Lam Research during the 1st quarter valued at approximately $2,845,000. Finally, Fidelis Capital Partners LLC raised its holdings in Lam Research by 56.8% during the 1st quarter. Fidelis Capital Partners LLC now owns 1,922 shares of the semiconductor company’s stock valued at $1,867,000 after buying an additional 696 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

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 firm has a market cap of $96.24 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 1.22 and a beta of 1.47. 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 has a 50-day simple moving average of $78.15 and a two-hundred day simple moving average of $89.03.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. The company had revenue of $4.17 billion during 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%. Lam Research’s revenue was up 19.7% compared to the same quarter last year. During the same period last year, the firm earned $6.85 earnings per share. On average, equities analysts forecast that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in 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. Mizuho reduced 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. Cantor Fitzgerald reissued a “neutral” rating and set a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Citigroup cut their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research report on Monday, September 16th. Finally, Morgan Stanley decreased their target price on Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Insiders Place Their Bets

In other 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 transaction of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

About Lam Research

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.