Lam Research Co. (NASDAQ:LRCX) Shares Sold by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. cut its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 0.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 164,680 shares of the semiconductor company’s stock after selling 454 shares during the period. Epoch Investment Partners Inc.’s holdings in Lam Research were worth $175,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Frank Rimerman Advisors LLC lifted its holdings in shares of Lam Research by 36,300.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 2,912 shares of the semiconductor company’s stock valued at $3,101,000 after buying an additional 2,904 shares during the period. Holderness Investments Co. lifted its holdings in Lam Research by 6.8% in the second quarter. Holderness Investments Co. now owns 583 shares of the semiconductor company’s stock valued at $621,000 after acquiring an additional 37 shares during the period. Profund Advisors LLC boosted its position in Lam Research by 5.9% in the 2nd quarter. Profund Advisors LLC now owns 21,365 shares of the semiconductor company’s stock worth $22,751,000 after purchasing an additional 1,189 shares in the last quarter. Circle Wealth Management LLC acquired a new stake in shares of Lam Research during the 2nd quarter worth approximately $1,333,000. Finally, Symmetry Investments LP purchased a new position in shares of Lam Research during the 2nd quarter valued at approximately $3,229,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LRCX. Raymond James increased their price target on shares of Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Wells Fargo & Company dropped their target price on Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. UBS Group reduced their price target on Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Needham & Company LLC reiterated a “buy” rating and set a $1,130.00 price target on shares of Lam Research in a research report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Lam Research from $1,100.00 to $950.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,012.84.

Insider Activity

In other Lam Research news, SVP Neil J. Fernandes sold 4,409 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the transaction, the senior vice president now directly owns 6,857 shares in the company, valued at approximately $7,239,346.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Neil J. Fernandes sold 4,409 shares of Lam Research stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the sale, the senior vice president now owns 6,857 shares of the company’s stock, valued at approximately $7,239,346.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total value of $687,282.22. Following the sale, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at approximately $5,219,945.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,326 shares of company stock valued at $17,383,715. 0.32% of the stock is currently owned by insiders.

Lam Research Stock Performance

LRCX opened at $773.19 on Friday. Lam Research Co. has a twelve month low of $574.42 and a twelve month high of $1,130.00. The firm has a market capitalization of $101.09 billion, a PE ratio of 28.44, a PEG ratio of 1.48 and a beta of 1.48. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The firm’s 50-day moving average price is $836.41 and its 200 day moving average price is $925.53.

Shares of Lam Research are scheduled to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be distributed to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.58 by $0.56. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same period in the prior year, the business earned $5.98 earnings per share. The business’s revenue was up 20.7% compared to the same quarter last year. As a group, sell-side analysts expect that Lam Research Co. will post 35.2 EPS for the current fiscal year.

Lam Research Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Tuesday, September 17th. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s payout ratio is currently 33.84%.

Lam Research Company 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.