Resona Asset Management Co. Ltd. Acquires New Position in Lam Research Co. (NASDAQ:LRCX)

Resona Asset Management Co. Ltd. bought a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, HoldingsChannel reports. The firm bought 415,270 shares of the semiconductor company’s stock, valued at approximately $30,062,000.

Several other hedge funds also recently made changes to their positions in the company. Financial Perspectives Inc boosted its holdings in Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 309 shares during the period. Fairway Wealth LLC grew its position in shares of Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 306 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in Lam Research during the fourth quarter worth about $27,000. Midwest Capital Advisors LLC bought a new position in Lam Research in the fourth quarter worth about $27,000. Finally, Bell Investment Advisors Inc boosted its stake in Lam Research by 836.6% in the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 343 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $59.09 on Friday. Lam Research Co. has a 52-week low of $57.97 and a 52-week high of $113.00. The stock has a market capitalization of $75.85 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 1.47 and a beta of 1.53. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The stock’s fifty day simple moving average is $78.26 and its 200 day simple moving average is $77.07.

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 forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LRCX. Barclays dropped their price target on 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. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and raised their target price for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $100.00 price objective on shares of Lam Research in a report on Tuesday, February 18th. Finally, Jefferies Financial Group boosted their target price on shares of Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, March 28th. Six investment 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.com, Lam Research has an average rating of “Moderate Buy” and a consensus target price of $97.59.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the transaction, the senior vice president now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.29% of the company’s stock.

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.