Texas Capital Bank Wealth Management Services Inc Has $10.28 Million Stake in Lam Research Co. (NASDAQ:LRCX)

Texas Capital Bank Wealth Management Services Inc cut its position in Lam Research Co. (NASDAQ:LRCX) by 0.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,656 shares of the semiconductor company’s stock after selling 22 shares during the quarter. Lam Research accounts for about 1.1% of Texas Capital Bank Wealth Management Services Inc’s portfolio, making the stock its 15th largest holding. Texas Capital Bank Wealth Management Services Inc’s holdings in Lam Research were worth $10,282,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Gryphon Financial Partners LLC bought a new position in Lam Research in the fourth quarter valued at about $476,000. Stifel Financial Corp increased its position in Lam Research by 9.4% during the 4th quarter. Stifel Financial Corp now owns 76,771 shares of the semiconductor company’s stock worth $60,154,000 after purchasing an additional 6,571 shares in the last quarter. Avestar Capital LLC lifted its stake in Lam Research by 64.1% in the 4th quarter. Avestar Capital LLC now owns 535 shares of the semiconductor company’s stock valued at $420,000 after purchasing an additional 209 shares during the last quarter. Gold Investment Management Ltd. acquired a new stake in Lam Research in the fourth quarter valued at approximately $495,000. Finally, Relative Value Partners Group LLC bought a new stake in shares of Lam Research during the fourth quarter worth $232,000. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LRCX shares. B. Riley raised their price objective on Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Mizuho reduced their price target on Lam Research from $1,050.00 to $950.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Morgan Stanley decreased their price target on shares of Lam Research from $929.00 to $774.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 17th. Finally, Citigroup reduced their price objective on shares of Lam Research from $990.00 to $893.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,012.84.

Insider Activity at Lam Research

In other news, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total value of $687,282.22. Following the completion of the sale, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at $5,219,945.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total value of $687,282.22. Following the completion of the sale, the chief accounting officer now owns 4,914 shares in the company, valued at approximately $5,219,945.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Neil J. Fernandes sold 1,620 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the transaction, the senior vice president now directly owns 5,237 shares in the company, valued at $5,535,456.63. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.

Lam Research Stock Performance

NASDAQ:LRCX opened at $827.12 on Friday. The firm has a market capitalization of $108.14 billion, a P/E ratio of 30.42, a P/E/G ratio of 1.51 and a beta of 1.48. Lam Research Co. has a twelve month low of $574.42 and a twelve month high of $1,130.00. The company has a fifty day moving average of $819.63 and a 200-day moving average of $921.14. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52.

Lam Research’s stock is scheduled to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be issued to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, topping analysts’ consensus estimates of $7.58 by $0.56. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. Lam Research’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm earned $5.98 earnings per share. As a group, sell-side analysts anticipate that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Tuesday, September 17th. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s dividend payout ratio is currently 33.84%.

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.