Securian Asset Management Inc. Invests $4.94 Million in Lam Research Corporation (NASDAQ:LRCX)

Securian Asset Management Inc. bought a new position in Lam Research Corporation (NASDAQ:LRCX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 67,997 shares of the semiconductor company's stock, valued at approximately $4,943,000.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Lam Research by 892.7% in the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock worth $8,724,498,000 after buying an additional 108,619,564 shares in the last quarter. FMR LLC grew its holdings in shares of Lam Research by 1,032.6% during the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock worth $2,891,453,000 after acquiring an additional 36,496,689 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Lam Research by 950.5% during the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock worth $2,495,128,000 after acquiring an additional 31,255,726 shares during the period. Geode Capital Management LLC raised its position in shares of Lam Research by 907.1% in the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock worth $2,265,610,000 after acquiring an additional 28,307,499 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Lam Research in the 4th quarter valued at approximately $1,661,672,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Stock Performance

NASDAQ:LRCX traded down $2.11 during mid-day trading on Monday, reaching $99.62. The company's stock had a trading volume of 12,934,623 shares, compared to its average volume of 12,046,690. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. The stock has a market cap of $127.43 billion, a P/E ratio of 27.76, a PEG ratio of 1.44 and a beta of 1.68. The firm's fifty day moving average price is $88.50 and its two-hundred day moving average price is $79.96. Lam Research Corporation has a 12-month low of $56.32 and a 12-month high of $108.23.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. The company had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The firm's quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter last year, the company posted $7.79 earnings per share. On average, equities analysts forecast that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were given a $0.23 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 0.92%. Lam Research's payout ratio is 25.63%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. TD Cowen decreased their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 24th. TD Securities decreased their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Barclays lowered their price target on shares of Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Citigroup restated a "buy" rating and issued a $108.00 price objective (up previously from $87.00) on shares of Lam Research in a report on Monday, July 7th. Finally, Mizuho lifted their target price on shares of Lam Research from $100.00 to $115.00 and gave the company an "outperform" rating in a report on Monday. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Lam Research currently has a consensus rating of "Moderate Buy" and an average price target of $98.19.

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.