Sumitomo Mitsui Trust Group Inc. Boosts Stock Holdings in Lam Research Corporation (NASDAQ:LRCX)

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,188,231 shares of the semiconductor company's stock after buying an additional 27,708 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.25% of Lam Research worth $231,784,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Fairway Wealth LLC boosted its position in Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after buying an additional 306 shares during the period. West Paces Advisors Inc. purchased a new stake in shares of Lam Research during the fourth quarter worth about $27,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Lam Research during the fourth quarter worth about $27,000. Bell Investment Advisors Inc boosted its holdings in shares of Lam Research by 836.6% during the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 343 shares during the period. Finally, Avalon Trust Co boosted its holdings in shares of Lam Research by 791.3% during the fourth quarter. Avalon Trust Co now owns 410 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 364 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Price Performance

Shares of LRCX opened at $97.20 on Friday. The company has a market capitalization of $124.33 billion, a P/E ratio of 27.09, a price-to-earnings-growth ratio of 1.37 and a beta of 1.65. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39. The firm has a 50 day moving average of $82.59 and a 200 day moving average of $78.22. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm earned $7.79 earnings per share. As a group, equities research analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is currently 25.63%.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of analyst reports. Wells Fargo & Company dropped their target price on shares of Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Jefferies Financial Group increased their target price on shares of Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Argus upgraded shares of Lam Research to a "strong-buy" rating in a report on Friday, April 25th. B. Riley reiterated a "buy" rating and set a $115.00 target price (up from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. Finally, UBS Group dropped their target price on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a report on Monday, April 14th. Seven equities 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $93.97.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.