Mirae Asset Global Investments Co. Ltd. Grows Stake in Lam Research Co. (NASDAQ:LRCX)

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 888.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,248,082 shares of the semiconductor company’s stock after buying an additional 1,121,821 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.10% of Lam Research worth $91,525,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Van ECK Associates Corp raised its holdings in Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after purchasing an additional 15,005,178 shares in the last quarter. Swedbank AB raised its stake in Lam Research by 1,488.8% in the fourth quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock worth $221,674,000 after buying an additional 2,875,843 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Lam Research in the fourth quarter worth about $175,652,000. KBC Group NV lifted its holdings in Lam Research by 904.7% in the fourth quarter. KBC Group NV now owns 1,371,062 shares of the semiconductor company’s stock worth $99,031,000 after buying an additional 1,234,595 shares during the period. Finally, abrdn plc grew its holdings in shares of Lam Research by 836.1% during the 4th quarter. abrdn plc now owns 1,315,038 shares of the semiconductor company’s stock worth $94,729,000 after acquiring an additional 1,174,563 shares during the period. Institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on LRCX shares. B. Riley lowered their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Wells Fargo & Company boosted their target price on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Cantor Fitzgerald upgraded shares of Lam Research from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $95.00 to $100.00 in a research note on Thursday, January 30th. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research note on Friday, January 17th. Finally, Barclays decreased their target price on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $95.72.

Lam Research Trading Down 0.3 %

Shares of LRCX stock opened at $79.91 on Wednesday. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The stock has a market capitalization of $102.82 billion, a P/E ratio of 24.27, a P/E/G ratio of 1.34 and a beta of 1.46. The firm’s 50 day moving average is $76.18 and its 200 day moving average is $78.44.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Research analysts expect that Lam Research Co. will post 3.69 earnings per share for the current year.

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.