Mizuho Securities USA LLC Increases Holdings in Lam Research Co. (NASDAQ:LRCX)

Mizuho Securities USA LLC grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1,342.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,949 shares of the semiconductor company’s stock after buying an additional 113,495 shares during the quarter. Mizuho Securities USA LLC’s holdings in Lam Research were worth $8,808,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Parisi Gray Wealth Management raised its position in shares of Lam Research by 652.9% during the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock valued at $603,000 after buying an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY purchased a new stake in Lam Research in the 4th quarter worth about $815,000. Centerpoint Advisors LLC raised its position in Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 900 shares during the period. Worldquant Millennium Advisors LLC raised its position in Lam Research by 51.9% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after purchasing an additional 73,648 shares during the period. Finally, Benjamin Edwards Inc. raised its position in Lam Research by 4,085.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 13,395 shares of the semiconductor company’s stock worth $10,932,000 after purchasing an additional 13,075 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 $75.84 on Friday. The company has a market cap of $97.35 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average of $79.62 and a two-hundred day moving average of $77.32.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating the consensus estimate 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, analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.21%. Lam Research’s dividend payout ratio is currently 27.96%.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s 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 completion of the transaction, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays reduced their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Wells Fargo & Company increased their price objective on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 price objective on shares of Lam Research in a research report on Tuesday, February 18th. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research report on Friday, January 17th. Finally, Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and increased their price objective for the stock from $75.00 to $125.00 in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $98.06.

Lam Research Profile

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.