Associated Banc Corp Has $70.04 Million Stock Holdings in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Associated Banc Corp increased its stake in Lam Research Corporation by 15.7%, owning approximately 963,390 shares valued at around $70.04 million.
• Several hedge funds significantly raised their holdings in Lam Research, with Ameriprise Financial boosting its position by 950.5% during the fourth quarter.
• Wall Street analysts are optimistic about Lam Research, with a majority issuing a "buy" rating and average price targets increasing to $107.09.

Associated Banc Corp lifted its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 15.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 963,390 shares of the semiconductor company's stock after acquiring an additional 130,920 shares during the period. Lam Research makes up 2.1% of Associated Banc Corp's investment portfolio, making the stock its 9th biggest position. Associated Banc Corp owned about 0.08% of Lam Research worth $70,038,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. raised its position in Lam Research by 950.5% in the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock worth $2,495,128,000 after purchasing an additional 31,255,726 shares during the period. Invesco Ltd. raised its stake in shares of Lam Research by 909.5% during the fourth quarter. Invesco Ltd. now owns 16,858,135 shares of the semiconductor company's stock valued at $1,217,663,000 after acquiring an additional 15,188,173 shares during the last quarter. Northern Trust Corp raised its stake in shares of Lam Research by 1,067.0% during the fourth quarter. Northern Trust Corp now owns 15,869,244 shares of the semiconductor company's stock valued at $1,146,235,000 after acquiring an additional 14,509,407 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Lam Research by 6,383.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,574,691 shares of the semiconductor company's stock valued at $980,500,000 after acquiring an additional 13,365,317 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new position in shares of Lam Research during the fourth quarter valued at about $792,161,000. 84.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Citigroup upped their price objective on shares of Lam Research from $108.00 to $113.00 and gave the company a "buy" rating in a research note on Friday. Oppenheimer upped their price objective on shares of Lam Research from $110.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. B. Riley reiterated a "buy" rating and set a $115.00 price target (up previously from $95.00) on shares of Lam Research in a research report on Wednesday, June 18th. Raymond James Financial boosted their price target on shares of Lam Research from $90.00 to $110.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, Barclays set a $83.00 price target on shares of Lam Research and gave the company an "equal weight" rating in a research report on Monday, July 28th. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $107.09.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $98.41 on Tuesday. The firm has a fifty day moving average price of $94.31 and a 200-day moving average price of $82.57. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 1.55. The stock has a market cap of $125.88 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 1.29 and a beta of 1.65. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $102.59.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.12. The company had revenue of $5.17 billion during the quarter, compared to analysts' expectations of $4.99 billion. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. Lam Research's quarterly revenue was up 33.6% on a year-over-year basis. During the same period last year, the company posted $1.03 earnings per share. Equities analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is presently 22.12%.

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.

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