Lam Research Co. (NASDAQ:LRCX) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd lessened its position in Lam Research Co. (NASDAQ:LRCX) by 25.8% during the third quarter, Holdings Channel reports. The fund owned 8,661 shares of the semiconductor company’s stock after selling 3,009 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Lam Research were worth $7,068,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of LRCX. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Lam Research in the 2nd quarter worth about $32,000. RFP Financial Group LLC increased its stake in Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares during the period. Hobbs Group Advisors LLC acquired a new position in Lam Research during the 2nd quarter valued at about $40,000. Country Trust Bank acquired a new position in Lam Research during the 2nd quarter valued at about $43,000. Finally, MFA Wealth Advisors LLC acquired a new position in Lam Research during the 2nd quarter valued at about $45,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on LRCX. B. Riley lowered their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. TD Cowen raised their price objective on shares of Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. Finally, StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.97.

Lam Research Price Performance

NASDAQ LRCX opened at $72.69 on Wednesday. The company has a 50 day simple moving average of $76.80 and a 200-day simple moving average of $87.04. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The firm has a market capitalization of $93.53 billion, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. Lam Research Co. has a 52-week low of $68.72 and a 52-week high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm’s revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.85 earnings per share. Equities research analysts predict that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s payout ratio is presently 29.74%.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Lam Research Company 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.