Lam Research Co. (NASDAQ:LRCX) Shares Bought by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. grew its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 842.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 509,753 shares of the semiconductor company’s stock after acquiring an additional 455,673 shares during the period. Asset Management One Co. Ltd.’s holdings in Lam Research were worth $37,416,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Cypress Capital Group lifted its position in shares of Lam Research by 3.7% during the 3rd quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock valued at $2,987,000 after acquiring an additional 132 shares during the period. Savvy Advisors Inc. raised its position in shares of Lam Research by 58.3% during the 3rd quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock worth $297,000 after purchasing an additional 134 shares during the last quarter. West Oak Capital LLC raised its position in shares of Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 135 shares during the last quarter. Baldwin Investment Management LLC raised its position in shares of Lam Research by 1.4% during the 3rd quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock worth $8,364,000 after purchasing an additional 137 shares during the last quarter. Finally, Bedell Frazier Investment Counselling LLC raised its position in shares of Lam Research by 10.1% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company’s stock worth $1,272,000 after purchasing an additional 143 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Stock Performance

NASDAQ:LRCX opened at $82.75 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $106.22 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 1.37 and a beta of 1.46. The firm’s fifty day simple moving average is $77.35 and its 200 day simple moving average is $77.96. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating the consensus estimate 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 research analysts expect that Lam Research Co. will post 3.69 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued 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 1.11%. Lam Research’s payout ratio is 27.95%.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several research reports. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Barclays cut their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. BNP Paribas upgraded Lam Research to a “hold” rating in a research report on Thursday, October 24th. Cantor Fitzgerald raised shares of Lam Research from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $95.00 to $100.00 in a research note on Thursday, January 30th. Finally, Wells Fargo & Company lifted their target price on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Lam Research has an average rating of “Moderate Buy” and an average target price of $95.72.

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.