489,561 Shares in Lam Research Corporation $LRCX Purchased by Associated Banc Corp

Key Points

• Associated Banc Corp bought 489,561 Lam Research shares in the third quarter, worth about $160.8 million. The position represents 3.8% of its portfolio and is its fifth-largest holding.
• Lam Research reported record quarterly revenue of $8.22 billion and beat earnings estimates slightly, while guiding for about $8.6 billion in December-quarter revenue. Component shortages and an expected near-term decline in China-related revenue remain risks.
• Analysts give the stock a consensus “Moderate Buy” rating and an average price target of $360.23, though shares have faced a sharp recent selloff.

Associated Banc Corp purchased a new position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 489,561 shares of the semiconductor company's stock, valued at approximately $160,826,000. Lam Research makes up 3.8% of Associated Banc Corp's holdings, making the stock its 5th largest holding.

Other hedge funds also recently bought and sold shares of the company. Polaris Financial Partners purchased a new position in Lam Research in the third quarter valued at about $4,814,000. Bank of America Corp DE grew its position in shares of Lam Research by 5.5% in the 2nd quarter. Bank of America Corp DE now owns 11,244,147 shares of the semiconductor company's stock worth $4,872,426,000 after acquiring an additional 584,489 shares in the last quarter. Rokos Capital Management LLP grew its position in shares of Lam Research by 42.0% in the 1st quarter. Rokos Capital Management LLP now owns 259,921 shares of the semiconductor company's stock worth $55,532,000 after acquiring an additional 76,840 shares in the last quarter. Aware Super Pty Ltd as trustee of Aware Super bought a new stake in shares of Lam Research during the 1st quarter valued at about $59,973,000. Finally, Meeder Asset Management Inc. raised its stake in Lam Research by 50.7% during the first quarter. Meeder Asset Management Inc. now owns 37,383 shares of the semiconductor company's stock worth $7,987,000 after acquiring an additional 12,574 shares during the period. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research News Roundup

Here are the key news stories impacting Lam Research this week:

• Positive Sentiment: Reports pointed to strong AI-chip demand and December-quarter guidance that helped support a Tuesday rebound; Jim Cramer’s endorsement also added to the positive sentiment. What Is Going on With Lam Research Stock on Tuesday? The wider semiconductor sector’s recovery provided another tailwind. Lam Research Stock Rises Amid Semiconductor Sector Rebound
• Positive Sentiment: Bernstein reportedly sees 53% potential upside after LRCX fell 34% over the past month, suggesting some analysts view the selloff as an opportunity. Bernstein Sees Upside in Lam Research
• Neutral Sentiment: Lam reported a record September quarter, with revenue of $8.22 billion and net income of $2.75 billion. Its December-quarter revenue outlook of about $8.6 billion and EPS guidance near $2.33 were broadly in line with expectations, limiting the positive surprise. Should Cautious Guidance Require Action From Lam Research Investors?
• Negative Sentiment: Component shortages could constrain execution, while management expects China-related revenue to decline in the near term. These risks, alongside concerns about AI spending across chip-equipment makers, contributed to the post-earnings selloff and may keep volatility elevated. Is Lam Research Stock's Fall a Bargain or a Warning?

Analyst Ratings Changes

LRCX has been the topic of several analyst reports. Evercore set a $315.00 target price on Lam Research in a research report on Tuesday, October 20th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $350.00 price target (down from $450.00) on shares of Lam Research in a research note on Thursday, July 30th. Citigroup reiterated a "buy" rating and set a $435.00 price target (down from $450.00) on shares of Lam Research in a research report on Thursday, October 22nd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $375.00 price target on shares of Lam Research in a research report on Monday, October 19th. Finally, TD Cowen reissued a "buy" rating and issued a $400.00 price objective (up from $340.00) on shares of Lam Research in a research note on Thursday, July 9th. Twenty-six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Lam Research currently has a consensus rating of "Moderate Buy" and a consensus price target of $360.23.

Insider Activity

In other news, insider Ava Harter sold 5,000 shares of the business's stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $302.46, for a total transaction of $1,512,300.00. Following the sale, the insider owned 42,462 shares in the company, valued at $12,843,056.52. The trade was a 10.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 9,557 shares of the company's stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the completion of the sale, the director owned 20,995 shares of the company's stock, valued at approximately $6,607,966.30. This trade represents a 31.28% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.31% of the company's stock.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $230.72 on Wednesday. The stock's fifty day simple moving average is $291.15 and its 200 day simple moving average is $283.95. The stock has a market capitalization of $288.21 billion, a price-to-earnings ratio of 34.38, a PEG ratio of 0.84 and a beta of 1.97. The company has a quick ratio of 1.86, a current ratio of 2.48 and a debt-to-equity ratio of 0.27. Lam Research Corporation has a 52-week low of $135.50 and a 52-week high of $438.50.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, October 21st. The semiconductor company reported $2.20 EPS for the quarter, beating the consensus estimate of $2.18 by $0.02. The business had revenue of $8.22 billion during the quarter, compared to the consensus estimate of $8.14 billion. Lam Research had a return on equity of 72.15% and a net margin of 32.34%. Lam Research's revenue was up 54.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.26 earnings per share. As a group, sell-side analysts forecast that Lam Research Corporation will post 9.59 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 23rd were issued a $0.33 dividend. The ex-dividend date was Wednesday, September 23rd. This is a positive change from Lam Research's previous quarterly dividend of $0.26. This represents a $1.32 annualized dividend and a dividend yield of 0.6%. Lam Research's dividend payout ratio is 19.67%.

Lam Research Company Profile

Lam Research Corporation NASDAQ: LRCX is a semiconductor equipment company that develops and manufactures systems used to fabricate integrated circuits. Its technologies support key stages of wafer processing, helping semiconductor manufacturers create the increasingly complex structures found in memory, logic and other types of chips.

The company's product portfolio includes etch systems, which selectively remove materials from wafers; deposition systems, which apply thin films; and cleaning solutions used to remove contaminants and residue during manufacturing.

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