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Mitsubishi UFJ Trust & Banking Corp Sells 53,182 Shares of Lam Research Corporation (NASDAQ:LRCX)

Lam Research logo with Computer and Technology background

Key Points

  • Mitsubishi UFJ Trust & Banking Corp reduced its stake in Lam Research Corporation by 5.8%, owning approximately 0.07% of the company at the end of the last quarter.
  • Lam Research received multiple positive price target adjustments from analysts, with KeyCorp raising their target from $105.00 to $115.00 and the stock having a consensus rating of "Moderate Buy".
  • The semiconductor company reported $1.33 EPS for the last quarter, exceeding estimates and reflecting a 33.6% increase in revenue year-over-year.
  • Interested in Lam Research? Here are five stocks we like better.

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 869,181 shares of the semiconductor company's stock after selling 53,182 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.07% of Lam Research worth $63,189,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its position in Lam Research by 1,032.4% during the 4th quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock worth $1,025,000 after acquiring an additional 12,936 shares during the last quarter. World Investment Advisors grew its position in Lam Research by 2,039.5% during the 4th quarter. World Investment Advisors now owns 5,798 shares of the semiconductor company's stock worth $419,000 after acquiring an additional 5,527 shares during the last quarter. Arete Wealth Advisors LLC bought a new stake in Lam Research during the 4th quarter worth $230,000. Pitcairn Co. bought a new stake in Lam Research during the 4th quarter worth $1,013,000. Finally, Foundry Partners LLC grew its position in Lam Research by 900.0% during the 4th quarter. Foundry Partners LLC now owns 3,450 shares of the semiconductor company's stock worth $249,000 after acquiring an additional 3,105 shares during the last quarter. Institutional investors own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $115.00 price target (up previously from $90.00) on shares of Lam Research in a research report on Tuesday, June 24th. Bank of America reduced their price target on Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Summit Insights lowered Lam Research from a "buy" rating to a "hold" rating in a research report on Thursday. Raymond James Financial upped their price target on Lam Research from $90.00 to $110.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, TD Securities reduced their price target on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $107.09.

Read Our Latest Report on LRCX

Lam Research Stock Up 1.6%

Shares of Lam Research stock traded up $1.53 on Friday, hitting $96.37. The company had a trading volume of 16,599,413 shares, compared to its average volume of 10,785,127. The stock has a market capitalization of $123.27 billion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 1.29 and a beta of 1.65. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $102.59. The stock has a 50 day moving average of $93.96 and a 200-day moving average of $82.44. 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 (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.21 by $0.12. The firm had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $4.99 billion. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The company's quarterly revenue was up 33.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.03 earnings per share. As a group, sell-side analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.0%. Lam Research's dividend payout ratio is 22.12%.

Lam Research Profile

(Free Report)

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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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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