Mitsubishi UFJ Asset Management Co. Ltd. Acquires 2,278,303 Shares of Lam Research Co. (NASDAQ:LRCX)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Lam Research Co. (NASDAQ:LRCX) by 986.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,509,261 shares of the semiconductor company’s stock after purchasing an additional 2,278,303 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.20% of Lam Research worth $188,471,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. West Oak Capital LLC lifted its position in shares of Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 135 shares in the last quarter. Baldwin Investment Management LLC lifted its holdings in Lam Research by 1.4% in the 3rd quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock valued at $8,364,000 after purchasing an additional 137 shares in the last quarter. IHT Wealth Management LLC grew its holdings in shares of Lam Research by 5.7% during the third quarter. IHT Wealth Management LLC now owns 2,729 shares of the semiconductor company’s stock worth $2,216,000 after buying an additional 147 shares in the last quarter. Community Bank N.A. raised its position in shares of Lam Research by 12.5% in the third quarter. Community Bank N.A. now owns 1,765 shares of the semiconductor company’s stock valued at $1,440,000 after buying an additional 196 shares during the last quarter. Finally, Algert Global LLC lifted its stake in shares of Lam Research by 40.5% in the third quarter. Algert Global LLC now owns 694 shares of the semiconductor company’s stock worth $566,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of LRCX opened at $76.14 on Thursday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The company has a market cap of $97.74 billion, a P/E ratio of 23.13, a PEG ratio of 1.47 and a beta of 1.53. The firm’s 50 day moving average price is $79.75 and its 200 day moving average price is $77.33.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal 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 given 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 presently 27.96%.

Insider Buying and Selling

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’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 transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now owns 179,084 shares in the company, valued at approximately $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 can be accessed through this link. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LRCX shares. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a report on Friday, January 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 price objective on shares of Lam Research in a research note on Tuesday, February 18th. The Goldman Sachs Group cut their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of Lam Research in a research report on Thursday, January 30th. Finally, Morgan Stanley raised their price objective on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $98.06.

Lam Research 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.