Norinchukin Bank The Boosts Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Norinchukin Bank The grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 979.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,835 shares of the semiconductor company's stock after acquiring an additional 64,275 shares during the quarter. Norinchukin Bank The's holdings in Lam Research were worth $5,116,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Ossiam bought a new position in Lam Research in the fourth quarter valued at $2,552,000. BOS Asset Management LLC increased its position in shares of Lam Research by 900.0% during the 4th quarter. BOS Asset Management LLC now owns 5,750 shares of the semiconductor company's stock valued at $415,000 after purchasing an additional 5,175 shares during the last quarter. Capital Research Global Investors purchased a new position in shares of Lam Research during the 4th quarter valued at about $240,823,000. Curi RMB Capital LLC bought a new stake in Lam Research in the 4th quarter worth approximately $346,000. Finally, Dimensional Fund Advisors LP grew its position in Lam Research by 934.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,671,386 shares of the semiconductor company's stock valued at $481,871,000 after acquiring an additional 6,026,403 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. TD Cowen lowered their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday. Jefferies Financial Group upped their price target on shares of Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, March 28th. UBS Group decreased their price objective on Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, April 14th. B. Riley reissued a "buy" rating on shares of Lam Research in a research note on Thursday. Finally, KeyCorp upgraded Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price target on the stock in a research report on Friday, January 17th. Six analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $92.80.

Insider Activity

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research 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 completion of the transaction, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.29% of the company's stock.

Lam Research Stock Up 6.2 %

Shares of NASDAQ:LRCX traded up $4.17 during trading on Thursday, hitting $70.90. The stock had a trading volume of 18,141,720 shares, compared to its average volume of 12,180,611. The company has a market capitalization of $91.01 billion, a PE ratio of 21.54, a PEG ratio of 1.47 and a beta of 1.52. The firm's fifty day moving average is $73.69 and its 200 day moving average is $75.62. Lam Research Co. has a 12 month low of $56.32 and a 12 month high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The firm had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Analysts anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Wednesday, March 5th. Lam Research's dividend payout ratio is 27.96%.

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.