The Manufacturers Life Insurance Company Acquires 1,518,271 Shares of Lam Research Co. (NASDAQ:LRCX)

The Manufacturers Life Insurance Company boosted its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 1,221.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,642,612 shares of the semiconductor company's stock after purchasing an additional 1,518,271 shares during the period. The Manufacturers Life Insurance Company owned about 0.13% of Lam Research worth $118,645,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in LRCX. Financial Perspectives Inc boosted its stake in shares of Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 309 shares during the period. Fairway Wealth LLC grew its holdings in Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 306 shares in the last quarter. Atwood & Palmer Inc. purchased a new position in Lam Research during the 4th quarter valued at about $27,000. Midwest Capital Advisors LLC purchased a new stake in shares of Lam Research in the 4th quarter worth approximately $27,000. Finally, Bell Investment Advisors Inc increased its holdings in Lam Research by 836.6% during the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock valued at $28,000 after buying an additional 343 shares during the period. Hedge funds and other institutional investors own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Needham & Company LLC cut their price target on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. B. Riley reissued a "buy" rating on shares of Lam Research in a research report on Thursday, April 24th. Oppenheimer cut their price target on Lam Research from $95.00 to $80.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on Lam Research and gave the company a "hold" rating in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group dropped their price target on shares of Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Lam Research presently has a consensus rating of "Moderate Buy" and an average price target of $91.56.

Lam Research Price Performance

Shares of LRCX traded up $2.79 during trading hours on Friday, hitting $74.52. 13,337,536 shares of the company were exchanged, compared to its average volume of 12,160,871. The company has a market cap of $95.32 billion, a price-to-earnings ratio of 22.64, a P/E/G ratio of 1.47 and a beta of 1.52. The firm's fifty day moving average is $71.95 and its 200 day moving average is $75.15. The company has a quick ratio of 1.73, a current ratio of 2.54 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.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data 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. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The firm had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the prior year, the business earned $7.79 earnings per share. The business's quarterly revenue was up 24.4% compared to the same quarter last year. On average, equities analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.23%. Lam Research's dividend payout ratio (DPR) is currently 25.63%.

Insiders Place Their Bets

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the transaction, the senior vice president now directly owns 179,084 shares of the company's stock, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.29% of the company's stock.

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.