Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 34.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 8,889 shares of the semiconductor company’s stock after buying an additional 2,270 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Lam Research Corporation were worth $1,257,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. IFP Advisors Inc boosted its stake in shares of Lam Research Corporation by 2.7% in the first quarter. IFP Advisors Inc now owns 850 shares of the semiconductor company’s stock worth $109,000 after buying an additional 22 shares during the last quarter. Stephens Inc. AR boosted its stake in shares of Lam Research Corporation by 6.8% in the first quarter. Stephens Inc. AR now owns 849 shares of the semiconductor company’s stock worth $109,000 after buying an additional 54 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Lam Research Corporation during the second quarter worth $134,000. Huntington National Bank boosted its stake in shares of Lam Research Corporation 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 last quarter. Finally, Financial Architects Inc boosted its stake in shares of Lam Research Corporation by 1,164.8% in the second quarter. Financial Architects Inc now owns 1,366 shares of the semiconductor company’s stock worth $193,000 after buying an additional 1,258 shares during the last quarter. 98.98% of the stock is owned by institutional investors and hedge funds.

Shares of Lam Research Corporation (LRCX) opened at 157.86 on Friday. The stock has a 50 day moving average price of $158.09 and a 200 day moving average price of $142.48. The stock has a market capitalization of $25.64 billion, a P/E ratio of 17.08 and a beta of 1.46. Lam Research Corporation has a 12-month low of $89.80 and a 12-month high of $170.00.

Lam Research Corporation (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.02 by $0.09. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.78%. The firm’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.80 earnings per share. On average, equities analysts anticipate that Lam Research Corporation will post $12.71 earnings per share for the current fiscal year.

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 paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $1.80 dividend on an annualized basis and a yield of 1.14%. Lam Research Corporation’s payout ratio is currently 19.57%.

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Several research firms recently commented on LRCX. Stifel Nicolaus reissued a “buy” rating and set a $189.00 target price (up from $170.00) on shares of Lam Research Corporation in a research note on Monday, June 19th. Needham & Company LLC boosted their target price on Lam Research Corporation from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, June 16th. BidaskClub cut Lam Research Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. UBS AG reissued a “buy” rating and set a $190.00 target price on shares of Lam Research Corporation in a research note on Tuesday, June 13th. Finally, Bank of America Corporation reissued a “buy” rating and set a $195.00 target price (up from $165.00) on shares of Lam Research Corporation in a research note on Sunday, June 11th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $175.18.

In other Lam Research Corporation news, SVP Sarah A. O’dowd sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $150.92, for a total transaction of $1,509,200.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen G. Newberry sold 750 shares of the company’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $160.50, for a total transaction of $120,375.00. The disclosure for this sale can be found here. In the last three months, insiders sold 31,609 shares of company stock worth $4,918,116. 0.46% of the stock is currently owned by insiders.

Lam Research Corporation 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.

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

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