Texas Capital Bank Wealth Management Services Inc Boosts Stake in Lam Research Corporation $LRCX

Texas Capital Bank Wealth Management Services Inc raised its holdings in Lam Research Corporation (NASDAQ:LRCX) by 3.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,972 shares of the semiconductor company’s stock after purchasing an additional 3,477 shares during the quarter. Texas Capital Bank Wealth Management Services Inc’s holdings in Lam Research were worth $7,631,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Meridian Wealth Management LLC raised its position in Lam Research by 1.4% in the first quarter. Meridian Wealth Management LLC now owns 9,732 shares of the semiconductor company’s stock valued at $707,000 after purchasing an additional 130 shares during the period. GW&K Investment Management LLC raised its position in Lam Research by 10.1% in the first quarter. GW&K Investment Management LLC now owns 1,534 shares of the semiconductor company’s stock valued at $112,000 after purchasing an additional 141 shares during the period. Citizens National Bank Trust Department raised its position in Lam Research by 34.0% in the first quarter. Citizens National Bank Trust Department now owns 603 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 153 shares during the period. Progressive Investment Management Corp raised its position in Lam Research by 0.4% in the first quarter. Progressive Investment Management Corp now owns 42,581 shares of the semiconductor company’s stock valued at $3,096,000 after purchasing an additional 156 shares during the period. Finally, Cassaday & Co Wealth Management LLC raised its position in Lam Research by 2.1% in the first quarter. Cassaday & Co Wealth Management LLC now owns 7,823 shares of the semiconductor company’s stock valued at $569,000 after purchasing an additional 163 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on LRCX. TD Cowen boosted their price objective on Lam Research from $100.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Morgan Stanley boosted their price objective on Lam Research from $87.00 to $94.00 and gave the company an “equal weight” rating in a report on Thursday, July 31st. UBS Group boosted their price objective on Lam Research from $95.00 to $120.00 and gave the company a “buy” rating in a report on Monday, July 21st. Summit Insights downgraded Lam Research from a “buy” rating to a “hold” rating in a report on Thursday, July 31st. Finally, Stifel Nicolaus boosted their price objective on Lam Research from $92.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Seven analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.09.

Lam Research Trading Down 0.6%

NASDAQ:LRCX opened at $98.88 on Tuesday. The stock has a 50-day simple moving average of $97.71 and a 200-day simple moving average of $84.11. The stock has a market cap of $125.14 billion, a P/E ratio of 23.77, a P/E/G 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 $108.02. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.55 and a current ratio of 2.21.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. The business had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The business’s quarterly revenue was up 33.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.03 EPS. As a group, analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

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.