MUFG Securities EMEA plc Acquires 64,999 Shares of Lam Research Corporation (NASDAQ:LRCX)

Key Points

• MUFG Securities EMEA plc increased its stake in Lam Research Corporation by 114.0% in the first quarter, owning 121,999 shares valued at approximately $8.87 million.
• Lam Research reported a 33.6% year-over-year revenue increase to $5.17 billion and exceeded earnings expectations with $1.33 EPS for the quarter.
• The company recently announced a quarterly $0.23 dividend, resulting in an annual yield of 0.9% and a low dividend payout ratio of 22.12%.

MUFG Securities EMEA plc boosted its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 114.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 121,999 shares of the semiconductor company's stock after purchasing an additional 64,999 shares during the period. MUFG Securities EMEA plc's holdings in Lam Research were worth $8,869,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Ameriprise Financial Inc. boosted its stake in shares of Lam Research by 950.5% in the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock worth $2,495,128,000 after buying an additional 31,255,726 shares during the last quarter. Northern Trust Corp lifted its position in Lam Research by 1,067.0% during the fourth quarter. Northern Trust Corp now owns 15,869,244 shares of the semiconductor company's stock valued at $1,146,235,000 after purchasing an additional 14,509,407 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Lam Research by 6,383.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,574,691 shares of the semiconductor company's stock valued at $980,500,000 after purchasing an additional 13,365,317 shares in the last quarter. Janus Henderson Group PLC purchased a new position in Lam Research during the fourth quarter valued at $792,161,000. Finally, Vanguard Group Inc. lifted its position in Lam Research by 6.9% during the first quarter. Vanguard Group Inc. now owns 129,152,102 shares of the semiconductor company's stock valued at $9,389,358,000 after purchasing an additional 8,364,375 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Price Performance

Shares of LRCX stock traded up $2.60 during trading hours on Friday, hitting $101.75. The stock had a trading volume of 8,761,658 shares, compared to its average volume of 11,458,919. Lam Research Corporation has a one year low of $56.32 and a one year high of $102.59. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 1.55. The stock's 50-day moving average price is $95.53 and its two-hundred day moving average price is $83.02. The stock has a market capitalization of $130.15 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 1.32 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 (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The firm had revenue of $5.17 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. The business's revenue was up 33.6% compared to the same quarter last year. Equities analysts forecast that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were paid 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 payout ratio is presently 22.12%.

Analysts Set New Price Targets

LRCX has been the topic of several analyst reports. TD Securities lowered their target price 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. Evercore ISI lifted their target price on Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Bank of America lowered their target price 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. Barclays set a $83.00 target price on Lam Research and gave the company an "equal weight" rating in a research report on Monday, July 28th. Finally, Summit Insights downgraded Lam Research from a "buy" rating to a "hold" rating in a research report on Thursday, July 31st. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $107.09.

Lam Research Company Profile

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.