Sumitomo Mitsui DS Asset Management Company Ltd Acquires 131,147 Shares of Lam Research Co. (NASDAQ:LRCX)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Lam Research Co. (NASDAQ:LRCX) by 957.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 144,845 shares of the semiconductor company’s stock after acquiring an additional 131,147 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Lam Research were worth $10,462,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Brookstone Capital Management grew its stake in shares of Lam Research by 166.8% in the 3rd quarter. Brookstone Capital Management now owns 4,271 shares of the semiconductor company’s stock valued at $3,485,000 after purchasing an additional 2,670 shares during the period. CWM LLC boosted its stake in Lam Research by 7.3% in the 3rd quarter. CWM LLC now owns 4,857 shares of the semiconductor company’s stock valued at $3,964,000 after buying an additional 332 shares in the last quarter. Watts Gwilliam & Co. LLC bought a new stake in Lam Research in the third quarter valued at $2,308,000. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Lam Research by 37.6% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 7,865 shares of the semiconductor company’s stock worth $6,418,000 after acquiring an additional 2,150 shares in the last quarter. Finally, Peak Financial Advisors LLC lifted its holdings in shares of Lam Research by 20.6% during the third quarter. Peak Financial Advisors LLC now owns 3,587 shares of the semiconductor company’s stock valued at $2,927,000 after acquiring an additional 613 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on LRCX shares. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. The Goldman Sachs Group dropped their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. B. Riley reduced their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Finally, Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and a consensus target price of $95.72.

Lam Research Trading Down 0.6 %

LRCX opened at $82.33 on Friday. The stock has a market capitalization of $105.93 billion, a P/E ratio of 25.01, a P/E/G ratio of 1.34 and a beta of 1.46. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The firm’s fifty day simple moving average is $76.75 and its 200 day simple moving average is $78.29.

Lam Research (NASDAQ:LRCX) last announced its 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 return on equity of 51.86% and a net margin of 26.49%. As a group, research analysts anticipate that Lam Research Co. will post 3.69 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm 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 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 1.12%. Lam Research’s dividend payout ratio (DPR) is presently 27.95%.

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.