Lam Research Co. (NASDAQ:LRCX) Stake Raised by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 957.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,845 shares of the semiconductor company’s stock after acquiring an additional 131,147 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Lam Research were worth $10,462,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. grew its position in Lam Research by 827.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock valued at $228,285,000 after purchasing an additional 2,819,668 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Lam Research by 900.0% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,000 shares of the semiconductor company’s stock valued at $144,000 after buying an additional 1,800 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of Lam Research during the 4th quarter valued at $1,775,000. Encompass Wealth Advisors LLC increased its stake in shares of Lam Research by 857.4% in the fourth quarter. Encompass Wealth Advisors LLC now owns 14,811 shares of the semiconductor company’s stock worth $1,070,000 after acquiring an additional 13,264 shares during the last quarter. Finally, Brickley Wealth Management raised its holdings in shares of Lam Research by 900.0% during the fourth quarter. Brickley Wealth Management now owns 2,800 shares of the semiconductor company’s stock worth $202,000 after acquiring an additional 2,520 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

LRCX has been the topic of several research reports. Barclays dropped their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. The Goldman Sachs Group cut their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a research note on Friday, January 17th. Finally, Cantor Fitzgerald upgraded shares of Lam Research from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $95.00 to $100.00 in a report on Thursday, January 30th. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.72.

Lam Research Stock Down 0.6 %

LRCX opened at $82.33 on Friday. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The business has a 50 day moving average of $76.75 and a 200-day moving average of $78.29. The stock has a market capitalization of $105.93 billion, a price-to-earnings ratio of 25.01, a P/E/G ratio of 1.34 and a beta of 1.46. 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 (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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, sell-side analysts anticipate that Lam Research Co. will post 3.69 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.12%. Lam Research’s dividend payout ratio (DPR) is 27.95%.

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.