Epoch Investment Partners Inc. Sells 454 Shares of Lam Research Co. (NASDAQ:LRCX)

Epoch Investment Partners Inc. cut its position in shares of Lam Research Co. (NASDAQ:LRCX) by 0.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 164,680 shares of the semiconductor company’s stock after selling 454 shares during the period. Epoch Investment Partners Inc. owned approximately 0.13% of Lam Research worth $175,359,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. DSM Capital Partners LLC purchased a new stake in shares of Lam Research during the 4th quarter worth approximately $28,000. CarsonAllaria Wealth Management Ltd. bought a new stake in Lam Research in the second quarter worth $32,000. RFP Financial Group LLC raised its stake in Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares in the last quarter. Raleigh Capital Management Inc. lifted its position in Lam Research by 78.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 22 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in Lam Research during the second quarter valued at $40,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling

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

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. TD Cowen upped their target price on shares of Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,130.00 price objective on shares of Lam Research in a research note on Thursday, August 1st. Mizuho dropped their target price on Lam Research from $1,050.00 to $950.00 and set an “outperform” rating for the company in a report on Friday. Morgan Stanley decreased their price target on Lam Research from $929.00 to $774.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 17th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Lam Research from $1,100.00 to $950.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,012.84.

Lam Research Price Performance

Shares of LRCX stock opened at $773.19 on Friday. The company has a market cap of $101.09 billion, a P/E ratio of 28.44, a PEG ratio of 1.48 and a beta of 1.48. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The stock’s 50-day moving average is $836.41 and its 200 day moving average is $925.53. Lam Research Co. has a 1-year low of $574.42 and a 1-year high of $1,130.00.

Lam Research shares are going 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 issued 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 EPS for the quarter, topping the consensus estimate of $7.58 by $0.56. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. Lam Research’s revenue was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.98 EPS. Research analysts predict that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be given a $2.30 dividend. This is a boost from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.19%. Lam Research’s dividend payout ratio (DPR) 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.