Ameritas Investment Partners Inc. Has $5.51 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Ameritas Investment Partners Inc. decreased its stake in Lam Research Co. (NASDAQ:LRCX) by 0.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,176 shares of the semiconductor company’s stock after selling 42 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Lam Research were worth $5,512,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Swedbank AB acquired a new stake in shares of Lam Research during the first quarter valued at approximately $192,668,000. Van ECK Associates Corp grew its position in Lam Research by 24.6% during the 1st quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock worth $940,592,000 after purchasing an additional 191,230 shares in the last quarter. Vanguard Group Inc. raised its stake in Lam Research by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after purchasing an additional 144,914 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Lam Research by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after purchasing an additional 142,903 shares in the last quarter. Finally, Natixis boosted its position in shares of Lam Research by 1,267.1% in the first quarter. Natixis now owns 142,967 shares of the semiconductor company’s stock worth $138,902,000 after buying an additional 132,509 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LRCX. Barclays increased their price objective on Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. UBS Group reduced their price target on shares of Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. TD Cowen raised their price target on shares of Lam Research from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. B. Riley upped their price objective on shares of Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Finally, Raymond James lifted their target price on shares of Lam Research from $950.00 to $1,060.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and an average price target of $1,012.84.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated 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 directly owns 4,914 shares of the company’s stock, valued at $5,219,945.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, SVP Neil J. Fernandes sold 1,620 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the completion of the transaction, the senior vice president now directly owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Christina Correia sold 647 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the completion of the sale, the chief accounting officer now directly owns 4,914 shares in the company, valued at approximately $5,219,945.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,326 shares of company stock valued at $17,383,715. Insiders own 0.32% of the company’s stock.

Lam Research Price Performance

NASDAQ LRCX opened at $773.19 on Friday. The company has a market cap of $101.09 billion, a P/E ratio of 28.44, a P/E/G ratio of 1.48 and a beta of 1.48. Lam Research Co. has a 1 year low of $574.42 and a 1 year high of $1,130.00. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The company has a fifty day simple moving average of $836.41 and a 200 day simple moving average of $925.79.

Shares of Lam Research are going to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be distributed to shareholders after the market closes on Wednesday, October 2nd.

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

Lam Research Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be issued a dividend of $2.30 per share. This is an increase from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date is Tuesday, September 17th. This represents a $9.20 annualized dividend and a dividend yield of 1.19%. Lam Research’s payout ratio is presently 33.84%.

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.