Lam Research Co. (NASDAQ:LRCX) Stake Increased by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 6.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,809 shares of the semiconductor company’s stock after buying an additional 169 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Lam Research were worth $2,991,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. DSM Capital Partners LLC acquired a new stake in shares of Lam Research during the fourth quarter worth approximately $28,000. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Lam Research during the 2nd quarter valued at $32,000. RFP Financial Group LLC increased its stake in shares of Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 12 shares during the last quarter. Raleigh Capital Management Inc. raised its holdings in shares of Lam Research by 78.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 22 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in Lam Research during the second quarter valued at $40,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Performance

NASDAQ:LRCX opened at $755.87 on Thursday. The stock has a market capitalization of $98.82 billion, a P/E ratio of 27.80, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. Lam Research Co. has a 1 year low of $574.42 and a 1 year high of $1,130.00. The firm has a 50 day moving average of $847.76 and a 200-day moving average of $928.18.

Shares of Lam Research are scheduled to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be payable to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, beating the consensus estimate of $7.58 by $0.56. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the prior year, the firm earned $5.98 earnings per share. Lam Research’s revenue was up 20.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lam Research Co. will post 35.2 EPS for the current fiscal year.

Lam Research Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be paid a $2.30 dividend. This is a boost from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is 33.84%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Citigroup dropped their target price on Lam Research from $990.00 to $893.00 and set a “buy” rating on the stock in a research report on Monday. B. Riley boosted their target price on shares of Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Raymond James increased their price target on shares of Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $1,200.00 target price on shares of Lam Research in a research report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,013.37.

Insider Activity

In related news, SVP Neil J. Fernandes sold 4,409 shares of Lam Research stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the completion of the sale, the senior vice president now directly owns 6,857 shares in the company, valued at $7,239,346.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Lam Research news, SVP Neil J. Fernandes sold 4,409 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the transaction, the senior vice president now directly owns 6,857 shares in the company, valued at approximately $7,239,346.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the sale, the chief accounting officer now owns 4,914 shares of the company’s stock, valued at approximately $5,219,945.64. The disclosure for this sale can be found here. Insiders have sold 16,326 shares of company stock valued at $17,383,715 over the last 90 days. 0.32% of the stock is owned by company insiders.

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.