Mitsubishi UFJ Trust & Banking Corp Buys 829,805 Shares of Lam Research Co. (NASDAQ:LRCX)

Mitsubishi UFJ Trust & Banking Corp increased its stake in Lam Research Co. (NASDAQ:LRCX) by 896.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 922,363 shares of the semiconductor company’s stock after buying an additional 829,805 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.07% of Lam Research worth $66,622,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LRCX. Florida Financial Advisors LLC bought a new position in shares of Lam Research in the 4th quarter worth approximately $338,000. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Lam Research by 869.9% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 26,662 shares of the semiconductor company’s stock worth $1,926,000 after purchasing an additional 23,913 shares in the last quarter. First American Trust FSB lifted its position in Lam Research by 1,902.7% during the fourth quarter. First American Trust FSB now owns 30,742 shares of the semiconductor company’s stock valued at $2,221,000 after buying an additional 29,207 shares during the period. Zions Bancorporation N.A. boosted its holdings in shares of Lam Research by 1,057.7% during the 4th quarter. Zions Bancorporation N.A. now owns 4,191 shares of the semiconductor company’s stock valued at $303,000 after buying an additional 3,829 shares in the last quarter. Finally, TIAA Trust National Association grew its position in shares of Lam Research by 635.3% in the 4th quarter. TIAA Trust National Association now owns 34,388 shares of the semiconductor company’s stock worth $2,484,000 after buying an additional 29,711 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on LRCX. Oppenheimer started coverage on shares of Lam Research in a research note on Thursday, March 20th. They set an “outperform” rating and a $95.00 price objective on the stock. Wells Fargo & Company boosted their price target on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and lifted their price objective for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Finally, Morgan Stanley lifted their price target on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.06.

Insider Transactions at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was 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 directly owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $77.67 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $99.70 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The firm’s 50 day moving average price is $79.75 and its 200-day moving average price is $77.31. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Equities research analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

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.