Norinchukin Bank The increased its stake in Lam Research Co. (NASDAQ:LRCX) by 4.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,284 shares of the semiconductor company’s stock after purchasing an additional 522 shares during the period. Norinchukin Bank The’s holdings in Lam Research were worth $7,907,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in LRCX. Fort Washington Investment Advisors Inc. OH acquired a new position in shares of Lam Research in the 4th quarter valued at $260,000. Savant Capital LLC purchased a new stake in Lam Research during the 4th quarter valued at about $300,000. Dynamic Advisor Solutions LLC purchased a new stake in Lam Research during the 4th quarter valued at about $297,000. CIBC Asset Management Inc increased its holdings in shares of Lam Research by 6.1% in the fourth quarter. CIBC Asset Management Inc now owns 23,939 shares of the semiconductor company’s stock valued at $11,306,000 after purchasing an additional 1,380 shares during the period. Finally, Baker Tilly Financial LLC purchased a new position in shares of Lam Research in the fourth quarter worth about $274,000. 82.22% of the stock is currently owned by institutional investors.
Shares of NASDAQ LRCX opened at $640.77 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.43 and a current ratio of 3.13. The business has a fifty day moving average of $630.24. The stock has a market cap of $91.39 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 0.74 and a beta of 1.27. Lam Research Co. has a one year low of $274.51 and a one year high of $673.80.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 7th. Shareholders of record on Wednesday, June 16th will be paid a dividend of $1.30 per share. The ex-dividend date is Tuesday, June 15th. This represents a $5.20 annualized dividend and a yield of 0.81%. Lam Research’s dividend payout ratio (DPR) is currently 32.60%.
Several equities analysts recently weighed in on LRCX shares. Argus increased their price target on shares of Lam Research from $625.00 to $725.00 and gave the stock a “buy” rating in a report on Thursday, April 15th. Barclays raised their target price on shares of Lam Research from $600.00 to $700.00 and gave the stock an “overweight” rating in a report on Thursday, April 22nd. Stifel Nicolaus upped their price target on shares of Lam Research from $740.00 to $780.00 and gave the company an “outperform” rating in a report on Thursday, April 22nd. Mizuho increased their price target on Lam Research from $575.00 to $705.00 and gave the stock a “buy” rating in a research report on Thursday, April 22nd. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price objective on Lam Research from $660.00 to $750.00 and gave the company a “buy” rating in a report on Monday, April 19th. Four investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $663.41.
In other news, CEO Timothy Archer sold 4,465 shares of Lam Research stock in a transaction that occurred on Monday, May 10th. The stock was sold at an average price of $621.41, for a total value of $2,774,595.65. 0.34% of the stock is owned by corporate insiders.
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 products for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.
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