Nippon Life Global Investors Americas Inc. Has $18.56 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

Nippon Life Global Investors Americas Inc. increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 960.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 256,250 shares of the semiconductor company’s stock after buying an additional 232,090 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Lam Research were worth $18,563,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LRCX. Fayez Sarofim & Co acquired a new position in shares of Lam Research during the 4th quarter worth about $939,000. IHT Wealth Management LLC grew its holdings in Lam Research by 757.0% during the fourth quarter. IHT Wealth Management LLC now owns 23,388 shares of the semiconductor company’s stock valued at $1,689,000 after purchasing an additional 20,659 shares during the period. OneDigital Investment Advisors LLC raised its holdings in Lam Research by 793.5% in the fourth quarter. OneDigital Investment Advisors LLC now owns 10,624 shares of the semiconductor company’s stock worth $767,000 after purchasing an additional 9,435 shares during the period. Stifel Financial Corp grew its holdings in shares of Lam Research by 894.9% in the 4th quarter. Stifel Financial Corp now owns 636,359 shares of the semiconductor company’s stock valued at $45,965,000 after buying an additional 572,399 shares during the period. Finally, State of Tennessee Department of Treasury increased its position in shares of Lam Research by 844.0% in the 4th quarter. State of Tennessee Department of Treasury now owns 478,257 shares of the semiconductor company’s stock valued at $34,545,000 after buying an additional 427,595 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on LRCX shares. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Lam Research in a report on Thursday, January 30th. Wells Fargo & Company boosted their price objective on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Mizuho raised their target price on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Jefferies Financial Group upped their price target on shares of Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, March 28th. Finally, Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $93.87.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was 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. This represents a 38.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.29% of the company’s stock.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $62.39 on Tuesday. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $80.09 billion, a P/E ratio of 18.95, a P/E/G ratio of 1.47 and a beta of 1.52. Lam Research Co. has a 12 month low of $56.32 and a 12 month high of $113.00. The stock has a 50 day moving average of $74.41 and a 200-day moving average of $75.76.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, equities research analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.47%. Lam Research’s dividend payout ratio (DPR) is currently 27.96%.

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.