Lam Research Co. (NASDAQ:LRCX) Shares Sold by Meiji Yasuda Asset Management Co Ltd.

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Meiji Yasuda Asset Management Co Ltd. lowered its stake in Lam Research Co. (NASDAQ:LRCX) by 9.4% in the 1st quarter, HoldingsChannel reports. The fund owned 8,235 shares of the semiconductor company’s stock after selling 852 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Lam Research were worth $1,474,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Berman Capital Advisors LLC acquired a new stake in Lam Research in the 4th quarter valued at $26,000. Global Retirement Partners LLC grew its position in Lam Research by 119.4% in the 1st quarter. Global Retirement Partners LLC now owns 147 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 80 shares during the period. FTB Advisors Inc. grew its position in Lam Research by 72.0% in the 4th quarter. FTB Advisors Inc. now owns 215 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 90 shares during the period. Zions Bancorporation N.A. acquired a new stake in Lam Research in the 1st quarter valued at $28,000. Finally, Strategy Asset Managers LLC acquired a new stake in Lam Research in the 1st quarter valued at $33,000. Institutional investors own 86.77% of the company’s stock.

LRCX traded down $10.71 during mid-day trading on Wednesday, reaching $179.21. 1,699,209 shares of the stock were exchanged, compared to its average volume of 2,308,159. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.37 and a quick ratio of 2.79. The company has a market capitalization of $28.90 billion, a price-to-earnings ratio of 10.03, a P/E/G ratio of 1.09 and a beta of 1.63. Lam Research Co. has a 1 year low of $122.64 and a 1 year high of $209.50.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $3.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.38 by $0.32. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. Lam Research had a net margin of 25.64% and a return on equity of 46.66%. The business’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.79 EPS. As a group, equities analysts anticipate that Lam Research Co. will post 14.33 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Wednesday, June 12th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Tuesday, June 11th. Lam Research’s dividend payout ratio (DPR) is currently 24.62%.

Several research firms recently issued reports on LRCX. Zacks Investment Research raised shares of Lam Research from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. UBS Group lifted their price target on shares of Lam Research from $170.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Deutsche Bank lifted their price target on shares of Lam Research from $180.00 to $195.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. KeyCorp lifted their price target on shares of Lam Research from $223.00 to $236.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Finally, Cowen reissued an “outperform” rating and issued a $235.00 price target (up previously from $223.00) on shares of Lam Research in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $224.78.

In related news, insider Richard A. Gottscho sold 7,248 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $209.26, for a total value of $1,516,716.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Patrick J. Lord sold 9,177 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $185.00, for a total transaction of $1,697,745.00. The disclosure for this sale can be found here. Insiders sold a total of 26,556 shares of company stock worth $5,252,080 over the last three months. 0.44% of the stock is owned by insiders.

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About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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