Daiwa Securities Group Inc. Acquires New Shares in Lam Research Co. (NASDAQ:LRCX)

Daiwa Securities Group Inc. acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 295,715 shares of the semiconductor company's stock, valued at approximately $21,359,000.

A number of other hedge funds have also recently bought and sold shares of LRCX. Financial Perspectives Inc boosted its holdings in shares of Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 309 shares during the last quarter. Atwood & Palmer Inc. acquired a new position in shares of Lam Research in the 4th quarter valued at $27,000. Midwest Capital Advisors LLC acquired a new position in shares of Lam Research in the 4th quarter valued at $27,000. Bell Investment Advisors Inc raised its stake in shares of Lam Research by 836.6% in the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock valued at $28,000 after acquiring an additional 343 shares during the period. Finally, West Oak Capital LLC raised its stake in shares of Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company's stock valued at $29,000 after acquiring an additional 135 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on LRCX shares. Sanford C. Bernstein raised shares of Lam Research from a "market perform" rating to an "outperform" rating and raised their target price for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Wells Fargo & Company raised their target price on shares of Lam Research from $82.00 to $85.00 and gave the company an "equal weight" rating in a research note on Thursday, January 30th. The Goldman Sachs Group cut their target price on shares of Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Barclays cut their target price on shares of Lam Research from $90.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Friday, January 17th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $100.00 price target on shares of Lam Research in a research note on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat, Lam Research presently has an average rating of "Moderate Buy" and a consensus target price of $98.22.

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Lam Research Stock Performance

Shares of NASDAQ LRCX traded up $3.05 during trading hours on Wednesday, hitting $76.41. 6,775,785 shares of the stock were exchanged, compared to its average volume of 11,056,400. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The company's 50 day moving average is $79.35 and its 200 day moving average is $77.52. The firm has a market capitalization of $98.09 billion, a P/E ratio of 23.20, a P/E/G ratio of 1.47 and a beta of 1.53. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, research analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Wednesday, March 5th. Lam Research's dividend payout ratio is 27.96%.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the transaction, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company's stock.

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.