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

Norinchukin Bank The boosted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 979.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm 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.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pine Valley Investments Ltd Liability Co raised its holdings in Lam Research by 48.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 11,464 shares of the semiconductor company’s stock worth $9,364,000 after purchasing an additional 3,732 shares during the period. Arvest Bank Trust Division acquired a new stake in Lam Research in the 3rd quarter valued at $18,106,000. Wilmington Savings Fund Society FSB increased its holdings in Lam Research by 383.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,547 shares of the semiconductor company’s stock worth $3,711,000 after acquiring an additional 3,607 shares in the last quarter. Tidal Investments LLC lifted its holdings in Lam Research by 409.6% during the third quarter. Tidal Investments LLC now owns 37,420 shares of the semiconductor company’s stock valued at $30,538,000 after purchasing an additional 30,077 shares in the last quarter. Finally, Synovus Financial Corp lifted its holdings in Lam Research by 22.4% in the 3rd quarter. Synovus Financial Corp now owns 3,071 shares of the semiconductor company’s stock valued at $2,508,000 after purchasing an additional 561 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on LRCX shares. Barclays cut their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and increased their price target for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Oppenheimer dropped their target price on Lam Research from $95.00 to $80.00 and set an “outperform” rating for the company in a report on Friday, April 11th. Finally, Stifel Nicolaus reduced their price target on Lam Research from $100.00 to $92.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.87.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction that occurred 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 owns 179,084 shares of the company’s stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Lam Research Price Performance

LRCX opened at $63.76 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The firm has a market cap of $81.85 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 1.47 and a beta of 1.52. The stock’s 50-day moving average price is $74.79 and its 200 day moving average price is $75.93. Lam Research Co. has a 12-month low of $56.32 and a 12-month high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share 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, sell-side analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research’s payout ratio is currently 27.96%.

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.