Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. lifted its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 960.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 256,250 shares of the semiconductor company's stock after acquiring an additional 232,090 shares during the period. Nippon Life Global Investors Americas Inc.'s holdings in Lam Research were worth $18,563,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Lam Research by 892.7% during the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock valued at $8,724,498,000 after purchasing an additional 108,619,564 shares during the last quarter. FMR LLC increased its position in Lam Research by 1,032.6% during the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock valued at $2,891,453,000 after buying an additional 36,496,689 shares in the last quarter. Geode Capital Management LLC raised its stake in Lam Research by 907.1% in the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock valued at $2,265,610,000 after buying an additional 28,307,499 shares during the last quarter. Norges Bank acquired a new stake in Lam Research in the fourth quarter worth about $1,661,672,000. Finally, Fisher Asset Management LLC grew its stake in shares of Lam Research by 892.7% during the fourth quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company's stock worth $1,341,902,000 after acquiring an additional 16,706,708 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Price Performance

NASDAQ LRCX traded up $0.52 on Friday, hitting $71.42. The company had a trading volume of 9,749,642 shares, compared to its average volume of 12,138,054. 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 fifty day moving average price is $73.45 and its 200-day moving average price is $75.55. The company has a market capitalization of $91.68 billion, a PE ratio of 21.70, a PEG ratio of 1.47 and a beta of 1.52. Lam Research Co. has a 12-month low of $56.32 and a 12-month high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.29%. Lam Research's dividend payout ratio (DPR) is presently 27.96%.

Insider Transactions at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the transaction, the senior vice president now owns 179,084 shares of the company's stock, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

LRCX has been the subject of a number of recent analyst reports. UBS Group lowered their target price on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Stifel Nicolaus dropped their price objective on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Evercore ISI raised their target price on Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research note on Thursday. Morgan Stanley lifted their price target on Lam Research from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Thursday. Finally, Wells Fargo & Company cut their price objective on Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a report on Thursday. Six investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $92.80.

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.