AIA Group Ltd Raises Stock Position in Lam Research Corporation (NASDAQ:LRCX)

AIA Group Ltd increased its stake in Lam Research Corporation (NASDAQ:LRCX) by 430.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,265 shares of the semiconductor company’s stock after purchasing an additional 22,936 shares during the quarter. AIA Group Ltd’s holdings in Lam Research were worth $2,055,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Lam Research by 6.9% in the first quarter. Vanguard Group Inc. now owns 129,152,102 shares of the semiconductor company’s stock worth $9,389,358,000 after purchasing an additional 8,364,375 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Lam Research by 950.5% in the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock worth $2,495,128,000 after purchasing an additional 31,255,726 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Lam Research by 2.8% during the 1st quarter. Invesco Ltd. now owns 17,330,771 shares of the semiconductor company’s stock worth $1,259,947,000 after acquiring an additional 472,636 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Lam Research by 1,067.0% during the 4th quarter. Northern Trust Corp now owns 15,869,244 shares of the semiconductor company’s stock worth $1,146,235,000 after acquiring an additional 14,509,407 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Lam Research by 6,383.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,574,691 shares of the semiconductor company’s stock worth $980,500,000 after acquiring an additional 13,365,317 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. TD Securities dropped their price target on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Summit Insights cut shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Thursday, July 31st. UBS Group lifted their price target on shares of Lam Research from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. Evercore ISI lifted their price target on shares of Lam Research from $95.00 to $99.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group began coverage on shares of Lam Research in a research note on Thursday, July 10th. They set a “buy” rating and a $115.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $107.09.

Lam Research Stock Performance

Lam Research stock opened at $102.00 on Tuesday. The company’s 50-day moving average price is $95.92 and its 200-day moving average price is $83.19. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $104.15. The company has a quick ratio of 1.55, a current ratio of 2.21 and a debt-to-equity ratio of 0.38. The company has a market cap of $130.47 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 1.32 and a beta of 1.65.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.21 by $0.12. The company had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $4.99 billion. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The firm’s revenue was up 33.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.03 EPS. On average, equities research analysts forecast that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.9%. The ex-dividend date was Wednesday, June 18th. Lam Research’s dividend payout ratio is presently 22.12%.

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.