FUKOKU MUTUAL LIFE INSURANCE Co Purchases 4,149 Shares of Lam Research Co. (NASDAQ:LRCX)

FUKOKU MUTUAL LIFE INSURANCE Co raised its position in Lam Research Co. (NASDAQ:LRCX) by 900.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,610 shares of the semiconductor company’s stock after purchasing an additional 4,149 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Lam Research were worth $333,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LRCX. Financial Perspectives Inc boosted its stake in shares of Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 309 shares during the period. Atwood & Palmer Inc. purchased a new stake in Lam Research in the 4th quarter valued at about $27,000. Midwest Capital Advisors LLC purchased a new stake in Lam Research in the 4th quarter valued at about $27,000. West Oak Capital LLC grew its stake in Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 135 shares in the last quarter. Finally, Country Trust Bank increased its position in shares of Lam Research by 900.0% during the fourth quarter. Country Trust Bank now owns 400 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 360 shares during the period. Institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of Lam Research stock opened at $81.30 on Thursday. The firm has a market cap of $104.36 billion, a PE ratio of 24.70, a P/E/G ratio of 1.47 and a beta of 1.46. The business has a 50-day moving average price of $78.74 and a 200 day moving average price of $78.11. 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 Co. has a twelve month low of $68.87 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its 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 return on equity of 51.86% and a net margin of 26.49%. Sell-side analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is presently 27.96%.

Analyst Ratings Changes

Several research analysts have commented on LRCX shares. Cantor Fitzgerald restated an “overweight” rating and set a $100.00 price objective on shares of Lam Research in a report on Tuesday, February 18th. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of Lam Research in a research report on Thursday, January 30th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and upped their target price for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Finally, Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $98.22.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the transaction, the senior vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is currently owned by insiders.

About Lam Research

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.