Asahi Life Asset Management CO. LTD. Makes New $571,000 Investment in Lam Research Co. (NASDAQ:LRCX)

Asahi Life Asset Management CO. LTD. purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 700 shares of the semiconductor company’s stock, valued at approximately $571,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Lam Research during the 2nd quarter worth about $32,000. RFP Financial Group LLC raised its holdings in shares of Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares during the period. Hobbs Group Advisors LLC bought a new stake in shares of Lam Research in the 2nd quarter valued at about $40,000. Country Trust Bank bought a new stake in shares of Lam Research in the 2nd quarter valued at about $43,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Lam Research in the 2nd quarter valued at about $45,000. 84.61% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of Lam Research 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 completion of the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.32% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX traded down $0.71 during mid-day trading on Monday, hitting $76.97. 1,971,078 shares of the company’s stock were exchanged, compared to its average volume of 11,246,845. Lam Research Co. has a 52 week low of $57.44 and a 52 week high of $113.00. The stock’s 50-day simple moving average is $79.21 and its 200-day simple moving average is $89.66. The firm has a market cap of $10.06 billion, a price-to-earnings ratio of 2.83, a price-to-earnings-growth ratio of 1.89 and a beta of 1.47. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to analyst estimates 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 for the quarter was up 19.7% on a year-over-year basis. During the same quarter last year, the business posted $6.85 EPS. On average, equities research analysts expect that Lam Research Co. will post 3.23 EPS for the current year.

Lam Research Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on LRCX shares. B. Riley dropped their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Lam Research in a report on Thursday. Citigroup dropped their target price on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Finally, StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $97.03.

Lam Research Profile

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.