Rakuten Securities Inc. Invests $38,000 in Lam Research Co. (NASDAQ:LRCX)

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

Several other hedge funds and other institutional investors have also recently made changes to their positions in LRCX. Moneta Group Investment Advisors LLC lifted its stake in shares of Lam Research by 117,180.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 32,822,222 shares of the semiconductor company’s stock worth $13,795,180,000 after buying an additional 32,794,236 shares in the last quarter. Norges Bank bought a new position in shares of Lam Research in the fourth quarter worth approximately $619,226,000. Morgan Stanley lifted its stake in shares of Lam Research by 34.8% in the fourth quarter. Morgan Stanley now owns 1,651,084 shares of the semiconductor company’s stock worth $693,952,000 after buying an additional 425,918 shares in the last quarter. International Assets Investment Management LLC lifted its position in Lam Research by 76,165.7% during the fourth quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock valued at $249,099,000 after purchasing an additional 317,611 shares during the period. Finally, Cerity Partners LLC lifted its position in Lam Research by 1,125.6% during the fourth quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock valued at $267,984,000 after purchasing an additional 314,224 shares during the period. Institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

Lam Research stock opened at $888.92 on Friday. The firm has a 50-day moving average price of $946.27 and a 200-day moving average price of $798.17. The firm has a market capitalization of $116.54 billion, a PE ratio of 34.37, a price-to-earnings-growth ratio of 3.30 and a beta of 1.51. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. Lam Research Co. has a 12-month low of $482.74 and a 12-month high of $1,007.39.

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

Lam Research Dividend Announcement

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

Insider Buying and Selling

In related news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the sale, the director now owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The disclosure for this sale can be found here. Insiders sold 7,029 shares of company stock worth $6,559,489 in the last three months. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. TD Cowen increased their price objective on shares of Lam Research from $710.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Mizuho increased their price objective on shares of Lam Research from $900.00 to $935.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Cantor Fitzgerald upped their target price on shares of Lam Research from $900.00 to $1,100.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, The Goldman Sachs Group upped their target price on shares of Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $881.45.

Lam Research Company 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.