Dai ichi Life Insurance Company Ltd Has $12.43 Million Position in Lam Research Co. (NASDAQ:LRCX)

Dai ichi Life Insurance Company Ltd lessened its stake in Lam Research Co. (NASDAQ:LRCX) by 21.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,670 shares of the semiconductor company’s stock after selling 3,095 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Lam Research were worth $12,427,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LRCX. DSM Capital Partners LLC purchased a new stake in shares of Lam Research during the fourth quarter worth $28,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Lam Research during the 2nd quarter worth about $32,000. RFP Financial Group LLC lifted its holdings in shares of Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares during the last quarter. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Lam Research in the 4th quarter valued at approximately $39,000. Finally, Raleigh Capital Management Inc. increased its holdings in Lam Research by 78.6% in the fourth quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock worth $39,000 after buying an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at $5,219,945.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other 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 $7,239,346.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total value of $687,282.22. Following the completion of the transaction, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at $5,219,945.64. The disclosure for this sale can be found here. Insiders have sold 16,326 shares of company stock worth $17,383,715 over the last three months. Company insiders own 0.32% of the company’s stock.

Lam Research Stock Performance

LRCX opened at $769.72 on Friday. The stock has a market cap of $99.97 billion, a PE ratio of 28.31, 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 stock’s 50 day simple moving average is $868.98 and its 200-day simple moving average is $932.10. 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’s stock is going to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be distributed to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (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%. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.98 earnings per share. Sell-side analysts forecast that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research announced that its Board of Directors has authorized a share repurchase plan on Tuesday, May 21st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 8.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Lam Research Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be paid a $2.30 dividend. 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. This represents a $9.20 annualized dividend and a yield of 1.20%. Lam Research’s payout ratio is currently 29.42%.

Analyst Ratings Changes

Several research firms have commented on LRCX. Cantor Fitzgerald reissued a “neutral” rating and issued a $1,200.00 target price on shares of Lam Research in a research report on Thursday, August 1st. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,130.00 price target on shares of Lam Research in a research report on Thursday, August 1st. TD Cowen raised their price objective on Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Lam Research from $1,100.00 to $950.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,006.10.

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.