Nissay Asset Management Corp Japan ADV lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX – Free Report) by 12.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,813 shares of the semiconductor company’s stock after purchasing an additional 2,990 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Lam Research were worth $14,214,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Cypress Capital Group boosted its stake in shares of Lam Research by 0.8% during the 1st quarter. Cypress Capital Group now owns 2,480 shares of the semiconductor company’s stock valued at $1,315,000 after buying an additional 20 shares during the last quarter. Greenleaf Trust boosted its stake in shares of Lam Research by 0.6% during the 1st quarter. Greenleaf Trust now owns 3,447 shares of the semiconductor company’s stock valued at $1,827,000 after buying an additional 21 shares during the last quarter. Bamco Inc. NY boosted its stake in shares of Lam Research by 18.8% during the 4th quarter. Bamco Inc. NY now owns 139 shares of the semiconductor company’s stock valued at $58,000 after buying an additional 22 shares during the last quarter. Quent Capital LLC boosted its stake in shares of Lam Research by 4.1% during the 1st quarter. Quent Capital LLC now owns 555 shares of the semiconductor company’s stock valued at $294,000 after buying an additional 22 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of Lam Research by 1.3% during the 4th quarter. Quadrant Capital Group LLC now owns 1,789 shares of the semiconductor company’s stock valued at $752,000 after buying an additional 23 shares during the last quarter. 84.08% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CFO Douglas R. Bettinger sold 1,894 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $705.86, for a total value of $1,336,898.84. Following the sale, the chief financial officer now directly owns 96,713 shares in the company, valued at approximately $68,265,838.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Douglas R. Bettinger sold 1,894 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $705.86, for a total value of $1,336,898.84. Following the sale, the chief financial officer now directly owns 96,713 shares in the company, valued at approximately $68,265,838.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Christina Corrreia sold 1,627 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $708.85, for a total transaction of $1,153,298.95. Following the completion of the sale, the chief accounting officer now owns 6,109 shares in the company, valued at $4,330,364.65. The disclosure for this sale can be found here. Insiders have sold 18,159 shares of company stock worth $12,926,580 in the last ninety days. 0.35% of the stock is currently owned by corporate insiders.
Lam Research Price Performance
Lam Research (NASDAQ:LRCX – Get Free Report) last issued its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $5.98 EPS for the quarter, topping the consensus estimate of $5.03 by $0.95. Lam Research had a net margin of 25.88% and a return on equity of 57.40%. The firm had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the previous year, the business earned $8.83 earnings per share. Lam Research’s revenue for the quarter was down 30.8% compared to the same quarter last year. Equities analysts anticipate that Lam Research Co. will post 26.75 EPS for the current year.
Lam Research Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.16%. Lam Research’s payout ratio is currently 20.82%.
Wall Street Analyst Weigh In
LRCX has been the subject of several research analyst reports. Sanford C. Bernstein increased their target price on Lam Research from $500.00 to $550.00 in a research note on Thursday, July 27th. Barclays raised their price objective on Lam Research from $575.00 to $600.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 27th. StockNews.com began coverage on Lam Research in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Stifel Nicolaus raised their price objective on Lam Research from $725.00 to $750.00 and gave the stock a “buy” rating in a research note on Monday, August 28th. Finally, Mizuho raised their price objective on Lam Research from $520.00 to $680.00 and gave the stock a “buy” rating in a research note on Monday, July 24th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $570.79.
Get Our Latest Analysis on LRCX
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.
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