Sumitomo Mitsui Trust Group Inc. Boosts Stock Position in Lam Research Co. (NASDAQ:LRCX)

Sumitomo Mitsui Trust Group Inc. lifted its position in Lam Research Co. (NASDAQ:LRCX) by 9.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 340,855 shares of the semiconductor company’s stock after purchasing an additional 28,089 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Lam Research were worth $278,165,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp lifted its holdings in shares of Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after buying an additional 15,005,178 shares during the period. Foster Victor Wealth Advisors LLC lifted its holdings in Lam Research by 994.1% in the third quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company’s stock valued at $190,066,000 after acquiring an additional 211,614 shares during the period. Swedbank AB purchased a new position in shares of Lam Research during the 1st quarter valued at approximately $192,668,000. Vanguard Group Inc. grew its position in Lam Research by 1.2% during the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after buying an additional 144,914 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Lam Research by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after buying an additional 142,903 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Performance

NASDAQ:LRCX opened at $76.17 on Tuesday. The company’s 50-day moving average is $77.55 and its two-hundred day moving average is $88.44. The firm has a market capitalization of $98.01 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 1.24 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. Lam Research Co. has a 1-year low of $67.06 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. The company had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the prior year, the business posted $6.85 earnings per share. Analysts forecast that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Wednesday, December 11th. Lam Research’s payout ratio is 29.77%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. BNP Paribas raised shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. UBS Group decreased their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Citigroup cut their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. Morgan Stanley reduced their price target on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $97.03.

Insider Activity at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research 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 completion of the sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is owned by 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.