Nippon Life Global Investors Americas Inc. Buys 1,170 Shares of Lam Research Co. (NASDAQ:LRCX)

Nippon Life Global Investors Americas Inc. boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 4.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,110 shares of the semiconductor company’s stock after purchasing an additional 1,170 shares during the period. Lam Research comprises 1.2% of Nippon Life Global Investors Americas Inc.’s portfolio, making the stock its 26th largest holding. Nippon Life Global Investors Americas Inc.’s holdings in Lam Research were worth $26,783,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Gryphon Financial Partners LLC bought a new stake in shares of Lam Research during the 4th quarter valued at about $476,000. Commerce Bank grew its position in Lam Research by 1.4% during the fourth quarter. Commerce Bank now owns 7,839 shares of the semiconductor company’s stock valued at $6,140,000 after buying an additional 112 shares during the period. SageView Advisory Group LLC increased its holdings in Lam Research by 220.8% during the fourth quarter. SageView Advisory Group LLC now owns 1,235 shares of the semiconductor company’s stock valued at $1,032,000 after buying an additional 850 shares during the last quarter. Orion Portfolio Solutions LLC raised its position in Lam Research by 1.1% in the fourth quarter. Orion Portfolio Solutions LLC now owns 7,393 shares of the semiconductor company’s stock worth $5,598,000 after acquiring an additional 83 shares during the period. Finally, Congress Wealth Management LLC DE boosted its stake in shares of Lam Research by 19.7% during the 4th quarter. Congress Wealth Management LLC DE now owns 735 shares of the semiconductor company’s stock worth $576,000 after acquiring an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on LRCX. Deutsche Bank Aktiengesellschaft reduced their price objective on 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. Barclays raised 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. Raymond James increased their target price on shares of Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. TD Cowen upped 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 research report on Thursday, August 1st. Finally, Citigroup decreased their price objective on shares of Lam Research from $990.00 to $893.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,012.84.

Insider Transactions at Lam Research

In related news, SVP Neil J. Fernandes sold 4,409 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the sale, the senior vice president now owns 6,857 shares in the company, valued at approximately $7,239,346.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Lam Research news, SVP Neil J. Fernandes sold 4,409 shares of the business’s stock in a transaction on 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 owns 6,857 shares in the company, valued at $7,239,346.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Neil J. Fernandes sold 1,620 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the completion of the sale, the senior vice president now owns 5,237 shares of the company’s stock, valued at approximately $5,535,456.63. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,326 shares of company stock worth $17,383,715. 0.32% of the stock is currently owned by company insiders.

Lam Research Trading Down 2.0 %

LRCX stock opened at $773.19 on Monday. The firm has a fifty day moving average price of $836.41 and a 200 day moving average price of $925.14. Lam Research Co. has a fifty-two week low of $574.42 and a fifty-two week high of $1,130.00. The firm has a market cap of $101.09 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97.

Lam Research’s stock is set to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be distributed to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, topping analysts’ consensus estimates of $7.58 by $0.56. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the previous year, the firm posted $5.98 EPS. The business’s quarterly revenue was up 20.7% on a year-over-year basis. Sell-side analysts anticipate that Lam Research Co. will post 35.2 earnings per share for the current fiscal 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 paid a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 1.19%. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is presently 33.84%.

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.