Resona Asset Management Co. Ltd. Takes Position in Lam Research Co. (NASDAQ:LRCX)

Resona Asset Management Co. Ltd. acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 415,270 shares of the semiconductor company’s stock, valued at approximately $30,062,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Lam Research by 892.7% during the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock worth $8,724,498,000 after purchasing an additional 108,619,564 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Lam Research by 907.1% during the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock worth $2,265,610,000 after buying an additional 28,307,499 shares during the last quarter. Norges Bank purchased a new stake in shares of Lam Research in the 4th quarter worth about $1,661,672,000. Fisher Asset Management LLC grew its stake in Lam Research by 892.7% in the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock valued at $1,341,902,000 after acquiring an additional 16,706,708 shares during the last quarter. Finally, Amundi raised its position in Lam Research by 7,601.9% during the fourth quarter. Amundi now owns 12,945,172 shares of the semiconductor company’s stock worth $990,464,000 after acquiring an additional 12,777,094 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LRCX. Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 price objective on shares of Lam Research in a research note on Tuesday, February 18th. The Goldman Sachs Group cut their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and increased their price objective for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 target price on shares of Lam Research in a research note on Thursday, January 30th. Finally, Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average price target of $97.59.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $59.09 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a 1-year low of $57.97 and a 1-year high of $113.00. The company has a market capitalization of $75.85 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 1.47 and a beta of 1.53. The business has a 50-day moving average of $78.26 and a 200-day moving average of $77.07.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results 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%. On average, equities analysts anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is 27.96%.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the transaction, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.29% of the stock is currently owned by company insiders.

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.