Norinchukin Bank The Increases Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

by · The Markets Daily

Norinchukin Bank The lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX – Free Report) by 979.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,835 shares of the semiconductor company’s stock after buying an additional 64,275 shares during the quarter. Norinchukin Bank The’s holdings in Lam Research were worth $5,116,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. West Oak Capital LLC boosted its position in shares of Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 135 shares in the last quarter. Diversified Trust Co lifted its stake in Lam Research by 8.3% during the fourth quarter. Diversified Trust Co now owns 3,741 shares of the semiconductor company’s stock valued at $270,000 after purchasing an additional 286 shares during the last quarter. McLean Asset Management Corp boosted its holdings in Lam Research by 6.3% during the fourth quarter. McLean Asset Management Corp now owns 5,122 shares of the semiconductor company’s stock worth $370,000 after buying an additional 302 shares in the last quarter. Fairway Wealth LLC grew its position in Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after buying an additional 306 shares during the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC lifted its position in shares of Lam Research by 159.1% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 307 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insiders Place Their Bets

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

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $63.76 on Friday. The business’s 50-day simple moving average is $74.79 and its 200-day simple moving average is $75.93. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The firm has a market cap of $81.85 billion, a price-to-earnings ratio of 19.37, a P/E/G ratio of 1.47 and a beta of 1.52.

Lam Research (NASDAQ:LRCX – Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, equities research analysts expect that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is currently 27.96%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a report on Friday, January 17th. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 target price on shares of Lam Research in a report on Tuesday, February 18th. Stifel Nicolaus reduced their price target on shares of Lam Research from $100.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company lifted their price objective on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.87.

Get Our Latest Stock Analysis on LRCX

Lam Research Profile

(Free Report)

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.

See Also

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