Nomura Asset Management Co. Ltd. Buys 388,782 Shares of Lam Research Co. (NASDAQ:LRCX)

Nomura Asset Management Co. Ltd. raised its stake in Lam Research Co. (NASDAQ:LRCX) by 204.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 578,510 shares of the semiconductor company’s stock after acquiring an additional 388,782 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Lam Research were worth $41,786,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of LRCX. Algert Global LLC raised its position in Lam Research by 40.5% in the 3rd quarter. Algert Global LLC now owns 694 shares of the semiconductor company’s stock valued at $566,000 after purchasing an additional 200 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Lam Research in the third quarter valued at about $220,000. Loomis Sayles & Co. L P acquired a new position in Lam Research during the 3rd quarter worth about $486,000. Townsquare Capital LLC grew its holdings in Lam Research by 20.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,591 shares of the semiconductor company’s stock worth $6,195,000 after acquiring an additional 1,310 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Lam Research by 6.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,127 shares of the semiconductor company’s stock valued at $45,804,000 after acquiring an additional 3,366 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s 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 of the company’s stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Lam Research Price Performance

NASDAQ LRCX opened at $72.61 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The business has a 50 day simple moving average of $79.51 and a 200 day simple moving average of $77.28. The stock has a market cap of $93.21 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping 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%. Analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.27%. Lam Research’s dividend payout ratio is currently 27.96%.

Analyst Ratings Changes

LRCX has been the topic of several research analyst reports. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and increased their price target for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research note on Friday, January 17th. Jefferies Financial Group raised their price target on Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Finally, Oppenheimer started coverage on shares of Lam Research in a research note on Thursday, March 20th. They issued an “outperform” rating and a $95.00 target price on the stock. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $97.59.

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.