FUKOKU MUTUAL LIFE INSURANCE Co Increases Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

FUKOKU MUTUAL LIFE INSURANCE Co lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 900.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,610 shares of the semiconductor company’s stock after buying an additional 4,149 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Lam Research were worth $333,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Cypress Capital Group raised its stake 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 worth $2,987,000 after buying an additional 132 shares in the last quarter. Savvy Advisors Inc. grew its stake in Lam Research by 58.3% during the third quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock worth $297,000 after buying an additional 134 shares during the period. West Oak Capital LLC boosted its holdings 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 during the period. Baldwin Investment Management LLC raised its position in shares of Lam Research by 1.4% in the 3rd quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock valued at $8,364,000 after purchasing an additional 137 shares in the last quarter. Finally, Bedell Frazier Investment Counselling LLC grew its stake in Lam Research by 10.1% in the third 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 in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Performance

LRCX stock opened at $81.30 on Thursday. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The business’s fifty day moving average is $78.74 and its 200-day moving average is $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. The company has a market cap of $104.36 billion, a P/E ratio of 24.70, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46.

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, 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%. Equities research analysts forecast that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

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 $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio is 27.96%.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.29% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wells Fargo & Company upped their target price on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Mizuho raised their price target on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. The Goldman Sachs Group reduced their price objective on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a research note on Tuesday, February 18th. Finally, KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

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.