Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 42.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,294 shares of the semiconductor company’s stock after purchasing an additional 12,912 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Lam Research were worth $10,391,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC lifted its holdings in shares of Lam Research by 0.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 36,777 shares of the semiconductor company’s stock worth $10,754,000 after purchasing an additional 172 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Lam Research during the 4th quarter worth $490,000. J.W. Cole Advisors Inc. acquired a new stake in Lam Research in the fourth quarter worth $434,000. SPC Financial Inc. bought a new stake in Lam Research in the fourth quarter valued at $227,000. Finally, Segment Wealth Management LLC acquired a new position in shares of Lam Research during the fourth quarter valued at $326,000. 86.69% of the stock is owned by institutional investors.
A number of analysts recently weighed in on LRCX shares. Deutsche Bank raised shares of Lam Research from a “hold” rating to a “buy” rating and increased their price objective for the stock from $280.00 to $300.00 in a report on Friday, March 27th. Exane BNP Paribas assumed coverage on shares of Lam Research in a research note on Thursday, April 9th. They issued an “outperform” rating and a $320.00 price target on the stock. B. Riley lifted their price target on Lam Research from $220.00 to $270.00 and gave the company a “neutral” rating in a report on Monday, April 13th. BidaskClub lowered Lam Research from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 5th. Finally, Royal Bank of Canada lowered their target price on Lam Research from $350.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $304.68.
Shares of LRCX traded up $0.44 during mid-day trading on Friday, hitting $261.14. The company’s stock had a trading volume of 1,734,831 shares, compared to its average volume of 2,525,822. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.47 and a quick ratio of 3.67. The firm has a 50-day moving average price of $255.69 and a 200 day moving average price of $277.63. Lam Research Co. has a fifty-two week low of $171.04 and a fifty-two week high of $344.32. The stock has a market capitalization of $37.84 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 1.32 and a beta of 1.34.
Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 22nd. The semiconductor company reported $3.98 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $3.98. The firm had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Lam Research had a net margin of 21.81% and a return on equity of 47.79%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $3.70 earnings per share. As a group, equities analysts anticipate that Lam Research Co. will post 15.39 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Tuesday, June 16th. Lam Research’s payout ratio is 31.62%.
Lam Research Profile
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.
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