Associated Banc Corp Has $60.13 Million Stake in Lam Research Co. (NASDAQ:LRCX)

Associated Banc Corp lifted its stake in Lam Research Co. (NASDAQ:LRCX) by 880.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 832,470 shares of the semiconductor company’s stock after purchasing an additional 747,591 shares during the period. Lam Research accounts for 1.8% of Associated Banc Corp’s portfolio, making the stock its 11th largest position. Associated Banc Corp’s holdings in Lam Research were worth $60,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of LRCX. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Lam Research by 5.7% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,646 shares of the semiconductor company’s stock valued at $2,975,000 after purchasing an additional 198 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Lam Research by 5.3% in the third quarter. CIBC Asset Management Inc now owns 40,423 shares of the semiconductor company’s stock valued at $32,988,000 after purchasing an additional 2,051 shares in the last quarter. Cornercap Investment Counsel Inc. boosted its stake in Lam Research by 184.8% in the third quarter. Cornercap Investment Counsel Inc. now owns 1,777 shares of the semiconductor company’s stock valued at $1,450,000 after acquiring an additional 1,153 shares during the last quarter. Turtle Creek Wealth Advisors LLC boosted its stake in Lam Research by 1.9% in the third quarter. Turtle Creek Wealth Advisors LLC now owns 7,788 shares of the semiconductor company’s stock valued at $6,356,000 after acquiring an additional 147 shares during the last quarter. Finally, Seizert Capital Partners LLC boosted its stake in Lam Research by 42.0% in the third quarter. Seizert Capital Partners LLC now owns 9,647 shares of the semiconductor company’s stock valued at $7,873,000 after acquiring an additional 2,852 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Trading Up 4.6 %

LRCX opened at $78.69 on Friday. The stock has a market capitalization of $101.01 billion, a P/E ratio of 23.90, a P/E/G ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The firm’s fifty day simple moving average is $79.57 and its 200 day simple moving average is $77.45. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, research analysts anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.17%. Lam Research’s payout ratio is currently 27.96%.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the sale, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LRCX. Barclays reduced their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. The Goldman Sachs Group reduced their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Morgan Stanley raised their price objective on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research note on Friday, January 17th. Finally, Wells Fargo & Company raised their price objective on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $98.22.

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.