Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 827.2% during the fourth quarter, HoldingsChannel reports. The fund owned 3,160,523 shares of the semiconductor company’s stock after buying an additional 2,819,668 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Lam Research were worth $228,285,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Van ECK Associates Corp grew its holdings in Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after acquiring an additional 15,005,178 shares during the period. State Street Corp grew its holdings in Lam Research by 1.6% during the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock worth $4,817,113,000 after acquiring an additional 94,086 shares during the period. Geode Capital Management LLC grew its holdings in Lam Research by 2.1% in the third quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock valued at $2,539,413,000 after purchasing an additional 64,053 shares during the last quarter. Swedbank AB grew its holdings in Lam Research by 1,488.8% in the fourth quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock valued at $221,674,000 after purchasing an additional 2,875,843 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Lam Research in the fourth quarter valued at $175,652,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Morgan Stanley upped their target price on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Mizuho lowered their target price on Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a report on Friday, January 17th. Cantor Fitzgerald raised Lam Research from a “neutral” rating to an “overweight” rating and upped their target price for the company from $95.00 to $100.00 in a report on Thursday, January 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of Lam Research in a research note on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.72.

Lam Research Stock Performance

NASDAQ LRCX opened at $82.33 on Friday. The business’s 50-day moving average price is $76.75 and its 200 day moving average price is $78.29. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a market capitalization of $105.93 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 1.34 and a beta of 1.46. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates 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 predict that Lam Research Co. will post 3.69 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.12%. Lam Research’s dividend payout ratio (DPR) is 27.95%.

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.