Mitsubishi UFJ Trust & Banking Corp cut its stake in Lam Research Co. (NASDAQ:LRCX) by 36.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 109,725 shares of the semiconductor company’s stock after selling 62,520 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Lam Research were worth $63,833,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of LRCX. Norges Bank bought a new stake in Lam Research in the fourth quarter worth $728,936,000. Sands Capital Management LLC bought a new stake in shares of Lam Research during the fourth quarter worth $658,961,000. FMR LLC lifted its position in shares of Lam Research by 12.1% during the fourth quarter. FMR LLC now owns 8,731,016 shares of the semiconductor company’s stock worth $4,123,397,000 after purchasing an additional 940,594 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Lam Research by 15.7% during the fourth quarter. JPMorgan Chase & Co. now owns 5,162,415 shares of the semiconductor company’s stock worth $2,438,054,000 after purchasing an additional 702,353 shares during the last quarter. Finally, Cibc World Markets Corp lifted its position in shares of Lam Research by 2,003.3% during the fourth quarter. Cibc World Markets Corp now owns 539,409 shares of the semiconductor company’s stock worth $254,747,000 after purchasing an additional 513,763 shares during the last quarter. Institutional investors own 82.22% of the company’s stock.
Shares of LRCX stock opened at $640.77 on Friday. Lam Research Co. has a fifty-two week low of $274.51 and a fifty-two week high of $673.80. The stock has a market capitalization of $91.39 billion, a price-to-earnings ratio of 27.05, a price-to-earnings-growth ratio of 0.74 and a beta of 1.27. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.13 and a quick ratio of 2.43. The business’s 50-day simple moving average is $630.24.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 7th. Investors of record on Wednesday, June 16th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Tuesday, June 15th. Lam Research’s dividend payout ratio (DPR) is 32.60%.
Several analysts have recently weighed in on the company. Credit Suisse Group lifted their target price on Lam Research from $650.00 to $750.00 and gave the stock an “outperform” rating in a research report on Friday, April 16th. Wells Fargo & Company lifted their target price on Lam Research from $645.00 to $690.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 22nd. Deutsche Bank Aktiengesellschaft raised their price target on Lam Research from $575.00 to $680.00 and gave the company a “hold” rating in a research note on Friday, April 16th. Argus raised their price target on Lam Research from $625.00 to $725.00 and gave the company a “buy” rating in a research note on Thursday, April 15th. Finally, B. Riley raised their price target on Lam Research from $800.00 to $815.00 and gave the company a “buy” rating in a research note on Thursday, April 22nd. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $663.41.
In related news, CEO Timothy Archer sold 4,465 shares of Lam Research stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $621.41, for a total transaction of $2,774,595.65. Insiders own 0.34% of the company’s stock.
About Lam Research
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.
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