Lam Research Co. (NASDAQ:LRCX) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd decreased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 25.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,661 shares of the semiconductor company’s stock after selling 3,009 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Lam Research were worth $7,068,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its position in Lam Research by 5.0% during the third quarter. The Manufacturers Life Insurance Company now owns 124,341 shares of the semiconductor company’s stock worth $101,472,000 after purchasing an additional 5,951 shares during the last quarter. Qsemble Capital Management LP purchased a new stake in Lam Research during the third quarter worth approximately $267,000. Bank of Montreal Can grew its stake in Lam Research by 6.6% during the third quarter. Bank of Montreal Can now owns 253,965 shares of the semiconductor company’s stock worth $210,060,000 after buying an additional 15,759 shares during the period. Truvestments Capital LLC grew its stake in Lam Research by 41.4% during the third quarter. Truvestments Capital LLC now owns 697 shares of the semiconductor company’s stock worth $569,000 after buying an additional 204 shares during the period. Finally, Loomis Sayles & Co. L P purchased a new stake in Lam Research during the third quarter worth approximately $486,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Down 1.4 %

Shares of NASDAQ:LRCX opened at $72.69 on Wednesday. The stock has a market capitalization of $93.53 billion, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. Lam Research Co. has a 1-year low of $68.72 and a 1-year high of $113.00. The company’s fifty day moving average is $76.80 and its two-hundred day moving average is $87.04. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm’s revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the company earned $6.85 earnings per share. Equities analysts anticipate that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.27%. Lam Research’s dividend payout ratio (DPR) is 29.74%.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Correia sold 647 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the sale, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several research reports. Morgan Stanley decreased their price objective on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Mizuho decreased their price objective on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Wells Fargo & Company decreased their price objective on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. Finally, UBS Group decreased their price objective on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.97.

About Lam Research

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.