Nomura Asset Management Co. Ltd. Grows Stock Position in Lam Research Co. (NASDAQ:LRCX)

Nomura Asset Management Co. Ltd. lifted its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 67.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 189,728 shares of the semiconductor company's stock after buying an additional 76,752 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Lam Research were worth $154,833,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LRCX. Van ECK Associates Corp boosted its stake in shares of Lam Research by 1,394.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company's stock worth $13,123,440,000 after acquiring an additional 15,005,178 shares in the last quarter. State Street Corp boosted its position in Lam Research by 1.6% during the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company's stock worth $4,817,113,000 after purchasing an additional 94,086 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Lam Research by 0.6% in the third quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company's stock valued at $1,527,273,000 after purchasing an additional 11,093 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Lam Research by 7.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company's stock valued at $1,335,522,000 after purchasing an additional 89,470 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Lam Research by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 822,599 shares of the semiconductor company's stock worth $671,307,000 after buying an additional 10,868 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Trading Up 1.1 %

LRCX traded up $0.86 during trading hours on Monday, reaching $77.45. The company's stock had a trading volume of 10,740,189 shares, compared to its average volume of 11,246,900. The business's 50-day moving average is $76.15 and its 200-day moving average is $85.92. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The stock has a market cap of $99.65 billion, a PE ratio of 25.03, a P/E/G ratio of 1.22 and a beta of 1.46. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion during the quarter, compared to analysts' expectations of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company's revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the business posted $6.85 EPS. As a group, equities research analysts predict that Lam Research Co. will post 3.5 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.19%. Lam Research's dividend payout ratio (DPR) is presently 29.74%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on LRCX shares. StockNews.com lowered shares of Lam Research from a "buy" rating to a "hold" rating in a report on Friday, October 11th. Morgan Stanley boosted their target price on shares of Lam Research from $76.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Thursday. UBS Group lowered their price objective on Lam Research from $125.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, September 12th. B. Riley decreased their target price on Lam Research from $132.50 to $105.00 and set a "buy" rating on the stock in a research report on Wednesday, October 23rd. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $97.24.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the business's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is owned by corporate insiders.

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.