Associated Banc Corp Sells 875 Shares of Lam Research Co. (NASDAQ:LRCX)

Associated Banc Corp lessened its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,879 shares of the semiconductor company’s stock after selling 875 shares during the quarter. Lam Research accounts for about 2.0% of Associated Banc Corp’s investment portfolio, making the stock its 10th largest position. Associated Banc Corp’s holdings in Lam Research were worth $69,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of LRCX. CarsonAllaria Wealth Management Ltd. bought a new position in Lam Research during the 2nd quarter valued at about $32,000. RFP Financial Group LLC boosted its holdings in shares of Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 12 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in Lam Research during the 2nd quarter valued at $40,000. Country Trust Bank bought a new position in Lam Research in the 2nd quarter valued at $43,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Lam Research during the second quarter worth $45,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LRCX. Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. Mizuho dropped their target price on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Citigroup cut their price objective on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a report on Monday, September 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $97.97.

Lam Research Stock Up 0.6 %

LRCX stock traded up $0.41 during trading hours on Monday, reaching $73.05. 171,219 shares of the stock were exchanged, compared to its average volume of 11,191,615. The company has a market cap of $93.99 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 1.15 and a beta of 1.48. The firm’s 50-day moving average is $76.93 and its 200-day moving average is $87.29. Lam Research Co. has a 12 month low of $68.72 and a 12 month high of $113.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

Lam Research (NASDAQ:LRCX) last issued its quarterly 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. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same period last year, the business earned $6.85 EPS. The business’s quarterly revenue was up 19.7% on a year-over-year basis. On average, equities research analysts expect that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Announces Dividend

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

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of the business’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 directly owns 4,267 shares in the company, valued at $3,488,315.17. The trade was a 13.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.29% of the company’s stock.

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.