Mufg Securities Americas Inc. Takes Position in Lam Research Co. (NASDAQ:LRCX)

Mufg Securities Americas Inc. acquired a new stake in Lam Research Co. (NASDAQ:LRCX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 18,994 shares of the semiconductor company's stock, valued at approximately $1,372,000.

Several other institutional investors and hedge funds have also recently modified their holdings of LRCX. Vanguard Group Inc. raised its holdings in shares of Lam Research by 892.7% in the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock valued at $8,724,498,000 after buying an additional 108,619,564 shares during the period. FMR LLC raised its holdings in shares of Lam Research by 1,032.6% in the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock valued at $2,891,453,000 after buying an additional 36,496,689 shares during the period. Ameriprise Financial Inc. raised its holdings 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 valued at $2,495,128,000 after buying an additional 31,255,726 shares during the period. Geode Capital Management LLC raised its holdings 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 valued at $2,265,610,000 after buying an additional 28,307,499 shares during the period. Finally, Norges Bank purchased a new stake in shares of Lam Research in the 4th quarter valued at $1,661,672,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Stock Performance

Shares of NASDAQ LRCX traded down $0.36 during trading hours on Friday, reaching $84.43. The stock had a trading volume of 10,088,878 shares, compared to its average volume of 12,283,580. The firm has a market cap of $108.00 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.47 and a beta of 1.64. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The firm has a 50-day moving average of $72.35 and a 200-day moving average of $75.47.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The firm had revenue of $4.72 billion during the quarter, compared to analysts' expectations of $4.64 billion. During the same period in the prior year, the firm earned $7.79 EPS. The business's revenue was up 24.4% on a year-over-year basis. Equities research analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

LRCX has been the topic of several research analyst reports. Evercore ISI boosted their price objective on Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. TD Cowen cut their price target on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Susquehanna upgraded Lam Research from a "neutral" rating to a "positive" rating and upped their price target for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Cantor Fitzgerald restated an "overweight" rating and set a $90.00 price target on shares of Lam Research in a report on Thursday, April 24th. Finally, Needham & Company LLC cut their price target on Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Lam Research presently has an average rating of "Moderate Buy" and a consensus target price of $91.56.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now directly owns 179,084 shares of the company's stock, valued at approximately $16,117,560. This trade represents a 38.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by insiders.

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.