Mitsubishi UFJ Kokusai Asset Management Co. Ltd. reduced its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 10.6% during the second quarter, Holdings Channel reports. The firm owned 23,410 shares of the semiconductor company’s stock after selling 2,764 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Lam Research Corporation were worth $3,311,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Lam Research Corporation during the second quarter worth $134,000. Schwab Charles Investment Management Inc. increased its stake in Lam Research Corporation by 3.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 530,597 shares of the semiconductor company’s stock worth $75,043,000 after buying an additional 18,781 shares during the period. Wetherby Asset Management Inc. increased its stake in Lam Research Corporation by 0.7% in the second quarter. Wetherby Asset Management Inc. now owns 1,789 shares of the semiconductor company’s stock worth $253,000 after buying an additional 12 shares during the period. Canada Pension Plan Investment Board increased its stake in Lam Research Corporation by 94.1% in the second quarter. Canada Pension Plan Investment Board now owns 171,471 shares of the semiconductor company’s stock worth $24,251,000 after buying an additional 83,146 shares during the period. Finally, Legacy Capital Partners Inc. acquired a new stake in Lam Research Corporation during the second quarter worth approximately $384,000. Hedge funds and other institutional investors own 98.98% of the company’s stock.

Shares of Lam Research Corporation (NASDAQ LRCX) opened at 154.26 on Friday. The company’s 50-day moving average price is $154.07 and its 200-day moving average price is $139.36. Lam Research Corporation has a 52-week low of $89.10 and a 52-week high of $170.00. The stock has a market cap of $24.95 billion, a PE ratio of 16.69 and a beta of 1.46.

Lam Research Corporation (NASDAQ:LRCX) last announced its earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 EPS for the quarter, beating the consensus estimate of $3.02 by $0.09. Lam Research Corporation had a return on equity of 26.95% and a net margin of 21.19%. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the business posted $1.80 earnings per share. Lam Research Corporation’s revenue was up 51.6% compared to the same quarter last year. Analysts expect that Lam Research Corporation will post $12.71 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Tuesday, September 12th. Lam Research Corporation’s dividend payout ratio is 19.57%.

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A number of equities research analysts have commented on LRCX shares. Morgan Stanley reissued an “overweight” rating on shares of Lam Research Corporation in a report on Friday, July 7th. Bank of America Corporation reissued a “buy” rating and issued a $195.00 target price (up previously from $165.00) on shares of Lam Research Corporation in a report on Sunday, June 11th. Stifel Nicolaus reissued a “buy” rating and issued a $189.00 target price (up previously from $170.00) on shares of Lam Research Corporation in a report on Monday, June 19th. Needham & Company LLC raised their target price on Lam Research Corporation from $165.00 to $175.00 and gave the company a “buy” rating in a report on Friday, June 16th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $200.00 target price on shares of Lam Research Corporation in a report on Wednesday, May 17th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $172.41.

In other news, Director Stephen G. Newberry sold 20,047 shares of the company’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $150.01, for a total transaction of $3,007,250.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Timothy Archer sold 8,942 shares of the company’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $155.51, for a total value of $1,390,570.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,656 shares of company stock valued at $7,925,366. 0.46% of the stock is currently owned by company insiders.

About Lam Research Corporation

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.

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Institutional Ownership by Quarter for Lam Research Corporation (NASDAQ:LRCX)

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