Associated Banc Corp Has $69.27 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

Associated Banc Corp cut its stake in Lam Research Co. (NASDAQ:LRCX) by 1.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 84,879 shares of the semiconductor company’s stock after selling 875 shares during the period. Lam Research accounts for approximately 2.0% of Associated Banc Corp’s investment portfolio, making the stock its 10th biggest holding. Associated Banc Corp’s holdings in Lam Research were worth $69,268,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of LRCX. CarsonAllaria Wealth Management Ltd. acquired a new position in Lam Research in the 2nd quarter valued at about $32,000. RFP Financial Group LLC boosted its holdings in shares of Lam Research by 52.2% during 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 period. Hobbs Group Advisors LLC bought a new position in shares of Lam Research during the second quarter worth approximately $40,000. Country Trust Bank acquired a new stake in Lam Research during the 2nd quarter worth approximately $43,000. Finally, MFA Wealth Advisors LLC bought a new stake in Lam Research in the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This represents a 13.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LRCX. B. Riley lowered their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Mizuho lowered their price target 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. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Citigroup decreased their target price on shares of 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, Cantor Fitzgerald reiterated a “neutral” rating and issued a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $97.97.

Lam Research Price Performance

Shares of LRCX traded up $0.41 during midday trading on Monday, hitting $73.05. The company’s stock had a trading volume of 171,219 shares, compared to its average volume of 11,191,615. 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 Co. has a one year low of $68.72 and a one year high of $113.00. The stock has a market capitalization of $93.99 billion, a price-to-earnings ratio of 23.69, a price-to-earnings-growth ratio of 1.15 and a beta of 1.48. The company’s fifty day simple moving average is $76.93 and its two-hundred day simple moving average is $87.29.

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

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.26%. The ex-dividend date is Wednesday, December 11th. Lam Research’s payout ratio is 29.77%.

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.