The Manufacturers Life Insurance Company Has $126.07 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

The Manufacturers Life Insurance Company grew its position in Lam Research Co. (NASDAQ:LRCX) by 9.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 118,390 shares of the semiconductor company’s stock after acquiring an additional 10,070 shares during the period. The Manufacturers Life Insurance Company owned 0.09% of Lam Research worth $126,068,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gryphon Financial Partners LLC bought a new stake in shares of Lam Research in the fourth quarter worth $476,000. Stifel Financial Corp raised its position in shares of Lam Research by 9.4% during the fourth quarter. Stifel Financial Corp now owns 76,771 shares of the semiconductor company’s stock worth $60,154,000 after acquiring an additional 6,571 shares during the last quarter. Avestar Capital LLC boosted its holdings in Lam Research by 64.1% in the fourth quarter. Avestar Capital LLC now owns 535 shares of the semiconductor company’s stock valued at $420,000 after acquiring an additional 209 shares during the last quarter. Gold Investment Management Ltd. acquired a new stake in Lam Research during the 4th quarter valued at approximately $495,000. Finally, Relative Value Partners Group LLC acquired a new stake in shares of Lam Research during the fourth quarter worth $232,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Trading Down 2.4 %

Shares of Lam Research stock opened at $827.12 on Friday. The stock has a fifty day moving average price of $819.63 and a 200-day moving average price of $921.14. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The firm has a market cap of $108.14 billion, a PE ratio of 31.17, a P/E/G ratio of 1.51 and a beta of 1.48. Lam Research Co. has a 1 year low of $574.42 and a 1 year high of $1,130.00.

Lam Research’s stock is going to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be payable to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, beating analysts’ consensus estimates of $7.58 by $0.56. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the company earned $5.98 earnings per share. Equities research analysts anticipate that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Tuesday, September 17th. This is a boost from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s dividend payout ratio is currently 33.84%.

Insider Transactions at Lam Research

In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the sale, the senior vice president now directly owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the sale, the chief accounting officer now directly owns 4,914 shares in the company, valued at approximately $5,219,945.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Neil J. Fernandes sold 1,620 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the completion of the transaction, the senior vice president now owns 5,237 shares of the company’s stock, valued at approximately $5,535,456.63. The disclosure for this sale can be found here. 0.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on LRCX shares. Needham & Company LLC reissued a “buy” rating and issued a $1,130.00 price target on shares of Lam Research in a research note on Thursday, August 1st. UBS Group cut their price objective on shares of Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. B. Riley boosted their target price on Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Wells Fargo & Company cut their price target on Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $1,200.00 price objective on shares of Lam Research in a report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,012.84.

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.