Rakuten Securities Inc. Takes Position in Lam Research Co. (NASDAQ:LRCX)

Rakuten Securities Inc. acquired a new stake in Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 48 shares of the semiconductor company’s stock, valued at approximately $38,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Whale Capital LLP boosted its stake in shares of Lam Research by 0.7% in the third quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock valued at $70,386,000 after purchasing an additional 800 shares during the period. Everence Capital Management Inc. lifted its stake in Lam Research by 54.7% in the fourth quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock worth $3,190,000 after acquiring an additional 1,440 shares during the last quarter. Gradient Investments LLC lifted its stake in Lam Research by 32,411.1% in the fourth quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock worth $11,459,000 after acquiring an additional 14,585 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in Lam Research in the fourth quarter worth approximately $7,930,000. Finally, Treasurer of the State of North Carolina lifted its stake in Lam Research by 0.9% in the third quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock worth $39,994,000 after acquiring an additional 560 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Down 2.6 %

LRCX stock opened at $888.92 on Friday. The company has a fifty day moving average price of $946.27 and a 200 day moving average price of $798.17. Lam Research Co. has a 12 month low of $482.74 and a 12 month high of $1,007.39. The company has a market cap of $116.54 billion, a price-to-earnings ratio of 34.37, a price-to-earnings-growth ratio of 3.30 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, topping analysts’ consensus estimates of $7.06 by $0.46. The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. Lam Research’s quarterly revenue was down 28.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.71 EPS. Sell-side analysts expect that Lam Research Co. will post 28.9 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 annualized dividend and a dividend yield of 0.90%. Lam Research’s dividend payout ratio is currently 30.94%.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $857,330.46. Following the transaction, the director now owns 10,541 shares in the company, valued at $10,246,168.23. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock valued at $6,559,489 in the last ninety days. Insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LRCX. The Goldman Sachs Group lifted their price target on shares of Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. TD Cowen lifted their price target on shares of Lam Research from $710.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Stifel Nicolaus lifted their price target on shares of Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Tuesday. Citigroup raised their price objective on shares of Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Raymond James boosted their price objective on shares of Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $881.45.

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.