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

Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 896.5% during the fourth quarter, HoldingsChannel reports. The firm owned 922,363 shares of the semiconductor company’s stock after buying an additional 829,805 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Lam Research were worth $66,622,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Parisi Gray Wealth Management lifted its position in Lam Research by 652.9% in the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after buying an additional 7,241 shares during the last quarter. Burns J W & Co. Inc. NY purchased a new stake in shares of Lam Research in the fourth quarter valued at $815,000. Centerpoint Advisors LLC lifted its holdings in shares of Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after acquiring an additional 900 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its stake in shares of Lam Research by 51.9% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after purchasing an additional 73,648 shares during the period. Finally, Benjamin Edwards Inc. grew its holdings in Lam Research by 4,085.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 13,395 shares of the semiconductor company’s stock valued at $10,932,000 after purchasing an additional 13,075 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’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 sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Lam Research Price Performance

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

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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

Wall Street Analyst Weigh In

LRCX has been the topic of several recent analyst reports. Oppenheimer initiated coverage on Lam Research in a report on Thursday, March 20th. They issued an “outperform” rating and a $95.00 price target on the stock. Morgan Stanley increased their target price on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a research note on Tuesday, February 18th. Finally, Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and boosted their price objective for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and an average price target of $98.06.

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.