Tokio Marine Asset Management Co. Ltd. Raises Position in Lam Research Co. (NASDAQ:LRCX)

Tokio Marine Asset Management Co. Ltd. lifted its holdings in Lam Research Co. (NASDAQ:LRCX) by 5.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,646 shares of the semiconductor company’s stock after purchasing an additional 198 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Lam Research were worth $2,975,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Creative Planning lifted its stake in shares of Lam Research by 2.5% during the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after buying an additional 1,146 shares during the period. Vest Financial LLC lifted its position in Lam Research by 68.7% during the 3rd quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after acquiring an additional 14,658 shares during the period. Benson Investment Management Company Inc. acquired a new stake in Lam Research during the 3rd quarter worth about $5,182,000. Sumitomo Mitsui Trust Group Inc. grew its stake in Lam Research by 9.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock valued at $278,165,000 after purchasing an additional 28,089 shares during the last quarter. Finally, Symmetry Investments LP acquired a new position in shares of Lam Research in the second quarter valued at about $3,229,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on LRCX shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 target price (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Mizuho dropped their price objective on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Morgan Stanley decreased their target price on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Lam Research has an average rating of “Moderate Buy” and an average target price of $97.03.

Lam Research Stock Up 1.3 %

LRCX stock opened at $74.79 on Friday. Lam Research Co. has a 52 week low of $68.72 and a 52 week high of $113.00. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The firm has a 50-day simple moving average of $77.37 and a 200-day simple moving average of $88.21. The stock has a market capitalization of $96.23 billion, a P/E ratio of 24.17, a P/E/G ratio of 1.17 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business’s revenue was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.85 earnings per share. Equities analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.23%. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

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.