Nippon Life Global Investors Americas Inc. Sells 2,860 Shares of Lam Research Corporation $LRCX

Nippon Life Global Investors Americas Inc. trimmed its holdings in Lam Research Corporation (NASDAQ:LRCX) by 1.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 152,120 shares of the semiconductor company’s stock after selling 2,860 shares during the quarter. Lam Research accounts for 2.0% of Nippon Life Global Investors Americas Inc.’s portfolio, making the stock its 15th largest holding. Nippon Life Global Investors Americas Inc.’s holdings in Lam Research were worth $50,018,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. State Street Corp lifted its stake in shares of Lam Research by 2.6% in the second quarter. State Street Corp now owns 60,704,130 shares of the semiconductor company’s stock valued at $26,320,468,000 after buying an additional 1,545,830 shares during the period. Bank of America Corp DE increased its stake in Lam Research by 5.5% during the second quarter. Bank of America Corp DE now owns 11,244,147 shares of the semiconductor company’s stock valued at $4,872,426,000 after acquiring an additional 584,489 shares during the period. Van ECK Associates Corp raised its holdings in Lam Research by 411.8% in the 2nd quarter. Van ECK Associates Corp now owns 11,089,395 shares of the semiconductor company’s stock valued at $4,805,368,000 after acquiring an additional 8,922,854 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Lam Research in the 2nd quarter valued at approximately $3,777,585,000. Finally, Amundi lifted its position in shares of Lam Research by 23.7% in the 1st quarter. Amundi now owns 10,147,479 shares of the semiconductor company’s stock worth $2,168,107,000 after acquiring an additional 1,942,862 shares during the period. 84.61% of the stock is owned by institutional investors.

Insider Transactions at Lam Research

In other Lam Research news, Director Bethany Mayer sold 9,557 shares of the stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the sale, the director owned 20,995 shares of the company’s stock, valued at $6,607,966.30. This represents a 31.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ava Harter sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $302.46, for a total transaction of $1,512,300.00. Following the transaction, the insider owned 42,462 shares in the company, valued at $12,843,056.52. The trade was a 10.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.31% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LRCX has been the subject of a number of recent research reports. Berenberg Bank set a $420.00 target price on Lam Research in a research note on Wednesday, September 9th. Fundamental Research set a $390.00 price target on shares of Lam Research in a report on Thursday, October 1st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $375.00 price objective on shares of Lam Research in a research note on Monday, October 19th. TD Cowen reaffirmed a “buy” rating and set a $400.00 price objective (up from $340.00) on shares of Lam Research in a report on Thursday, July 9th. Finally, HSBC reiterated a “hold” rating and set a $333.00 target price on shares of Lam Research in a research report on Monday, July 27th. Twenty-six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $360.23.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $239.11 on Monday. The stock has a market cap of $298.69 billion, a PE ratio of 35.63, a PEG ratio of 0.89 and a beta of 1.97. The business has a fifty day moving average of $294.47 and a two-hundred day moving average of $283.78. Lam Research Corporation has a 52-week low of $135.50 and a 52-week high of $438.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.86 and a current ratio of 2.48.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.02. The business had revenue of $8.22 billion during the quarter, compared to analysts’ expectations of $8.14 billion. Lam Research had a net margin of 32.34% and a return on equity of 72.15%. The firm’s revenue for the quarter was up 54.4% on a year-over-year basis. During the same quarter last year, the company posted $1.26 EPS. As a group, equities research analysts expect that Lam Research Corporation will post 9.59 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Wednesday, September 23rd were given a dividend of $0.33 per share. This is a positive change from Lam Research’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, September 23rd. This represents a $1.32 annualized dividend and a yield of 0.6%. Lam Research’s dividend payout ratio is currently 19.67%.

Lam Research Profile

Lam Research Corporation (NASDAQ:LRCX) is a semiconductor equipment company that develops and manufactures systems used to fabricate integrated circuits. Its technologies support key stages of wafer processing, helping semiconductor manufacturers create the increasingly complex structures found in memory, logic and other types of chips.

The company’s product portfolio includes etch systems, which selectively remove materials from wafers; deposition systems, which apply thin films; and cleaning solutions used to remove contaminants and residue during manufacturing.