Lam Research Corporation (NASDAQ:LRCX) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Lam Research by 11.2% during the first quarter, owning approximately 2.79 million shares valued at $202.8 million.
• Lam Research's recent earnings report showed $1.33 EPS, surpassing expectations of $1.21, with year-over-year revenue growth of 33.6%.
• The company announced a quarterly dividend of $0.23 per share, representing an annualized yield of 0.9%.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 11.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,790,184 shares of the semiconductor company's stock after buying an additional 280,923 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.22% of Lam Research worth $202,846,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of LRCX. Smallwood Wealth Investment Management LLC bought a new position in shares of Lam Research during the first quarter valued at approximately $26,000. West Paces Advisors Inc. bought a new stake in shares of Lam Research in the 4th quarter worth approximately $27,000. Mpwm Advisory Solutions LLC acquired a new position in Lam Research during the 4th quarter valued at approximately $27,000. Park Square Financial Group LLC bought a new position in Lam Research during the 4th quarter worth $31,000. Finally, Putney Financial Group LLC acquired a new stake in Lam Research in the fourth quarter worth $36,000. Institutional investors own 84.61% of the company's stock.

Analyst Ratings Changes

LRCX has been the subject of several recent research reports. Wells Fargo & Company set a $98.00 price target on shares of Lam Research and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Raymond James Financial upped their target price on shares of Lam Research from $90.00 to $110.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Citigroup lifted their price target on Lam Research from $108.00 to $113.00 and gave the company a "buy" rating in a report on Friday, August 1st. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on Lam Research and gave the stock a "hold" rating in a report on Thursday, April 24th. Finally, Barclays set a $83.00 target price on Lam Research and gave the company an "equal weight" rating in a research note on Monday, July 28th. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.09.

Lam Research Trading Up 3.3%

Lam Research stock opened at $99.15 on Friday. The company has a 50 day moving average price of $95.10 and a 200 day moving average price of $82.89. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.55 and a current ratio of 2.21. Lam Research Corporation has a 52 week low of $56.32 and a 52 week high of $102.59. The firm has a market capitalization of $126.82 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 1.24 and a beta of 1.65.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.12. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The company had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the prior year, the company earned $1.03 EPS. The firm's quarterly revenue was up 33.6% on a year-over-year basis. Research analysts forecast that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is presently 22.12%.

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.

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