Nippon Life Insurance Co. held its stake in shares of Lam Research Co. (NASDAQ:LRCX) during the first quarter, according to its most recent disclosure with the SEC. The fund owned 14,272 shares of the semiconductor company’s stock at the end of the first quarter. Nippon Life Insurance Co.’s holdings in Lam Research were worth $1,832,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Quadrant Capital Group LLC increased its stake in shares of Lam Research by 5.6% in the third quarter. Quadrant Capital Group LLC now owns 1,328 shares of the semiconductor company’s stock worth $123,000 after buying an additional 70 shares during the period. TLP Group LLC acquired a new stake in shares of Lam Research during the third quarter worth about $132,000. Huntington National Bank increased its stake in shares of Lam Research by 82.1% in the first quarter. Huntington National Bank now owns 1,118 shares of the semiconductor company’s stock worth $144,000 after buying an additional 504 shares during the period. Atria Investments LLC acquired a new stake in shares of Lam Research during the first quarter worth about $203,000. Finally, IFM Investors Pty Ltd acquired a new stake in shares of Lam Research during the fourth quarter worth about $205,000.
Shares of Lam Research Co. (NASDAQ:LRCX) opened at 152.40 on Friday. The company has a 50-day moving average price of $140.74 and a 200-day moving average price of $119.02. Lam Research Co. has a 1-year low of $76.15 and a 1-year high of $153.10. The stock has a market cap of $24.58 billion, a price-to-earnings ratio of 19.36 and a beta of 1.44.
Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Tuesday, April 18th. The semiconductor company reported $2.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.55 by $0.25. The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.13 billion. Lam Research had a net margin of 15.67% and a return on equity of 19.95%. The company’s revenue was up 63.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.18 earnings per share. On average, equities analysts expect that Lam Research Co. will post $9.88 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 28th. Stockholders of record on Wednesday, June 7th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Monday, June 5th. Lam Research’s payout ratio is presently 32.37%.
LRCX has been the subject of several research reports. Zacks Investment Research downgraded Lam Research from a “buy” rating to a “hold” rating in a report on Monday, March 27th. Citigroup Inc reissued a “buy” rating and issued a $200.00 target price on shares of Lam Research in a report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and issued a $145.00 target price (up from $140.00) on shares of Lam Research in a report on Tuesday, April 18th. Needham & Company LLC reissued a “buy” rating and issued a $145.00 target price (up from $135.00) on shares of Lam Research in a report on Thursday, January 26th. Finally, Summit Redstone restated a “buy” rating on shares of Lam Research in a research report on Saturday, January 21st. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $142.31.
In related news, VP Patrick J. Lord sold 2,211 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $114.90, for a total transaction of $254,043.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Martin B. Anstice sold 16,000 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $117.23, for a total transaction of $1,875,680.00. The disclosure for this sale can be found here. Insiders sold 216,005 shares of company stock worth $26,133,115 over the last three months. Insiders own 0.46% of the company’s stock.
Lam Research Company Profile
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.
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