Mitsubishi UFJ Asset Management Co. Ltd. Boosts Holdings in Lam Research Co. (NASDAQ:LRCX)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 986.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,509,261 shares of the semiconductor company’s stock after buying an additional 2,278,303 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Lam Research were worth $188,471,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Korea Investment CORP lifted its position in Lam Research by 756.4% in the fourth quarter. Korea Investment CORP now owns 1,026,610 shares of the semiconductor company’s stock valued at $74,152,000 after purchasing an additional 906,737 shares during the period. Tyler Stone Wealth Management raised its stake in shares of Lam Research by 795.4% during the 4th quarter. Tyler Stone Wealth Management now owns 11,300 shares of the semiconductor company’s stock worth $816,000 after buying an additional 10,038 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lifted its holdings in shares of Lam Research by 936.6% in the 4th quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 454,651 shares of the semiconductor company’s stock valued at $32,839,000 after buying an additional 410,792 shares during the period. Nuance Investments LLC purchased a new stake in shares of Lam Research in the fourth quarter valued at approximately $7,453,000. Finally, Core Wealth Partners LLC purchased a new position in Lam Research in the fourth quarter worth $289,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $16,117,560. The trade was a 38.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.29% of the company’s stock.

Lam Research Stock Down 2.0 %

LRCX stock opened at $76.14 on Thursday. The company has a 50 day moving average price of $79.75 and a two-hundred day moving average price of $77.33. 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 stock has a market capitalization of $97.74 billion, a P/E ratio of 23.13, a PEG ratio of 1.47 and a beta of 1.53. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data 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 return on equity of 51.86% and a net margin of 26.49%. As a group, sell-side analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.96%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on LRCX shares. Oppenheimer initiated coverage on shares of Lam Research in a research report on Thursday, March 20th. They set an “outperform” rating and a $95.00 target price on the stock. Barclays lowered their target price on shares of 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. Morgan Stanley lifted their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and upped their price target for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Finally, Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Lam Research has an average rating of “Moderate Buy” and an average target price of $98.06.

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.