Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co increased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 3.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,143 shares of the semiconductor company’s stock after buying an additional 76 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Lam Research were worth $2,282,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Lam Research by 1.2% during the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after acquiring an additional 144,914 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Lam Research by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock worth $2,329,037,000 after purchasing an additional 86,721 shares during the period. Price T Rowe Associates Inc. MD grew its position in Lam Research by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after purchasing an additional 142,903 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Lam Research by 7.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock valued at $1,335,522,000 after purchasing an additional 89,470 shares during the period. Finally, Van ECK Associates Corp raised its holdings in shares of Lam Research by 11.1% in the second quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock valued at $1,145,664,000 after buying an additional 107,778 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

LRCX has been the topic of several recent research reports. B. Riley boosted their price target on Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Deutsche Bank Aktiengesellschaft cut their price target 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. Wells Fargo & Company lowered their price objective on shares of Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Barclays boosted their price objective on shares of Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. Finally, TD Cowen lifted 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 report on Thursday, August 1st. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average target price of $1,013.37.

Lam Research Stock Performance

NASDAQ:LRCX opened at $766.04 on Wednesday. Lam Research Co. has a twelve month low of $574.42 and a twelve month high of $1,130.00. The company has a market capitalization of $100.15 billion, a P/E ratio of 28.17, 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. The firm has a 50-day moving average price of $855.19 and a two-hundred day moving average price of $929.39.

Shares of Lam Research are going to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be payable 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 analysts’ consensus estimates of $7.58 by $0.56. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter last year, the business posted $5.98 EPS. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. As a group, research analysts expect that Lam Research Co. will post 35.2 earnings per share 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. Investors of record on Tuesday, September 17th will be given a dividend of $2.30 per share. The ex-dividend date is Tuesday, September 17th. This represents a $9.20 dividend on an annualized basis and a yield of 1.20%. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s dividend payout ratio (DPR) is 33.84%.

Lam Research declared that its board has approved a share repurchase program on Tuesday, May 21st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Lam Research

In other news, SVP Neil J. Fernandes sold 4,409 shares of Lam Research stock in a transaction on 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 owns 6,857 shares of the company’s stock, valued at $7,239,346.32. The sale was disclosed in a document filed 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 firm’s 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Christina Correia sold 647 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer now directly 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. In the last three months, insiders sold 16,326 shares of company stock worth $17,383,715. Insiders own 0.32% 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.