Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 79.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,150 shares of the semiconductor company’s stock after acquiring an additional 510 shares during the quarter. Lam Research comprises approximately 1.2% of Mitsubishi UFJ Securities Holdings Co. Ltd.’s portfolio, making the stock its 15th largest holding. Mitsubishi UFJ Securities Holdings Co. Ltd.’s holdings in Lam Research were worth $206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also added to or reduced their stakes in LRCX. Oregon Public Employees Retirement Fund boosted its position in Lam Research by 35,969.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 15,760,316 shares of the semiconductor company’s stock worth $116,000 after purchasing an additional 15,716,622 shares during the last quarter. FMR LLC boosted its position in Lam Research by 88.0% in the fourth quarter. FMR LLC now owns 6,652,531 shares of the semiconductor company’s stock worth $905,875,000 after purchasing an additional 3,114,393 shares during the last quarter. American International Group Inc. boosted its position in Lam Research by 1,921.2% in the fourth quarter. American International Group Inc. now owns 2,848,583 shares of the semiconductor company’s stock worth $387,892,000 after purchasing an additional 2,707,651 shares during the last quarter. Norges Bank purchased a new position in Lam Research in the fourth quarter worth about $215,477,000. Finally, Amundi Pioneer Asset Management Inc. boosted its position in Lam Research by 563.0% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 1,043,217 shares of the semiconductor company’s stock worth $186,745,000 after purchasing an additional 885,862 shares during the last quarter. 86.77% of the stock is currently owned by institutional investors.
Shares of NASDAQ LRCX traded down $10.63 during trading on Wednesday, hitting $179.29. The company had a trading volume of 128,028 shares, compared to its average volume of 2,308,159. The company has a market capitalization of $28.90 billion, a P/E ratio of 10.05, a price-to-earnings-growth ratio of 1.09 and a beta of 1.63. Lam Research Co. has a 12 month low of $122.64 and a 12 month high of $209.50. The company has a quick ratio of 2.79, a current ratio of 3.37 and a debt-to-equity ratio of 0.71.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Wednesday, June 12th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Tuesday, June 11th. Lam Research’s dividend payout ratio (DPR) is presently 24.62%.
In related news, Director Abhijit Y. Talwalkar sold 3,988 shares of Lam Research stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $195.00, for a total transaction of $777,660.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Patrick J. Lord sold 9,177 shares of Lam Research stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $185.00, for a total value of $1,697,745.00. The disclosure for this sale can be found here. Insiders have sold a total of 26,556 shares of company stock worth $5,252,080 in the last three months. 0.44% of the stock is owned by corporate insiders.
Several research analysts have issued reports on the company. Deutsche Bank raised their target price on Lam Research from $180.00 to $195.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. Zacks Investment Research raised Lam Research from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Mizuho reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Lam Research in a research note on Tuesday, April 16th. Cowen reaffirmed an “outperform” rating and issued a $235.00 price objective (up previously from $223.00) on shares of Lam Research in a research note on Thursday, April 25th. Finally, B. Riley raised Lam Research from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $170.00 to $235.00 in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $224.78.
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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 product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.
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