Lam Research Co. (NASDAQ:LRCX) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky cut its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 2.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 10,554 shares of the semiconductor company’s stock after selling 297 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Lam Research were worth $11,238,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Lam Research by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after buying an additional 144,914 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Lam Research by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock valued at $2,329,037,000 after purchasing an additional 86,721 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Lam Research by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after purchasing an additional 142,903 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Lam Research by 7.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock worth $1,335,522,000 after buying an additional 89,470 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Lam Research by 11.1% in the second quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock valued at $1,145,664,000 after buying an additional 107,778 shares during the period. Institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

NASDAQ LRCX opened at $797.38 on Wednesday. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $104.25 billion, a PE ratio of 29.33, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48. Lam Research Co. has a 12-month low of $574.42 and a 12-month high of $1,130.00. The company has a 50 day moving average price of $811.37 and a two-hundred day moving average price of $918.60.

Lam Research shares are going to split 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 market closes on Wednesday, October 2nd.

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

Lam Research Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.15%. This is an increase from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is presently 33.84%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LRCX. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Cantor Fitzgerald cut their price objective on Lam Research from $1,200.00 to $1,000.00 and set a “neutral” rating for the company in a research report on Monday. Mizuho decreased their price target on Lam Research from $1,050.00 to $950.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. B. Riley boosted their price objective on Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Lam Research from $1,100.00 to $950.00 and set a “buy” rating for the company 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,002.32.

Insider Buying and Selling

In related news, SVP Neil J. Fernandes sold 1,620 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the transaction, the senior vice president now directly owns 5,237 shares in the company, valued at approximately $5,535,456.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.32% of the company’s stock.

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.