Asahi Life Asset Management CO. LTD. Buys New Shares in Lam Research Co. (NASDAQ:LRCX)

Asahi Life Asset Management CO. LTD. bought a new stake in Lam Research Co. (NASDAQ:LRCX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 700 shares of the semiconductor company’s stock, valued at approximately $571,000.

Several other hedge funds have also made changes to their positions in the stock. Fortitude Family Office LLC lifted its stake in Lam Research by 16.7% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock worth $67,000 after purchasing an additional 9 shares during the period. Thomasville National Bank lifted its stake in Lam Research by 1.5% during the second quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock worth $865,000 after purchasing an additional 12 shares during the period. Ignite Planners LLC lifted its stake in Lam Research by 2.8% during the second quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock worth $484,000 after purchasing an additional 12 shares during the period. U.S. Capital Wealth Advisors LLC lifted its stake in Lam Research by 3.7% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock worth $357,000 after purchasing an additional 12 shares during the period. Finally, RFP Financial Group LLC lifted its stake in Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares during the period. Institutional investors own 84.61% of the company’s stock.

Lam Research Trading Down 0.9 %

Shares of NASDAQ LRCX traded down $0.71 during midday trading on Monday, reaching $76.97. 1,971,078 shares of the stock were exchanged, compared to its average volume of 11,246,845. The business has a 50-day simple moving average of $79.21 and a two-hundred day simple moving average of $89.66. The company has a market capitalization of $10.06 billion, a price-to-earnings ratio of 2.83, a P/E/G ratio of 1.89 and a beta of 1.47. Lam Research Co. has a 12 month low of $57.44 and a 12 month high of $113.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm’s revenue was up 19.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.85 EPS. As a group, equities research analysts expect that Lam Research Co. will post 3.23 EPS for the current year.

Lam Research Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were given a $0.23 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 annualized dividend and a yield of 1.20%. Lam Research’s dividend payout ratio is currently 3.38%.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

LRCX has been the subject of several recent analyst reports. B. Riley dropped their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Mizuho dropped their price objective on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday. Finally, TD Cowen raised their price target on shares of Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and a consensus price target of $97.03.

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.