New York State Common Retirement Fund Decreases Position in Lam Research Co. (NASDAQ:LRCX)

New York State Common Retirement Fund cut its stake in Lam Research Co. (NASDAQ:LRCX) by 8.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 206,470 shares of the semiconductor company’s stock after selling 18,544 shares during the quarter. New York State Common Retirement Fund owned approximately 0.16% of Lam Research worth $161,720,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Arlington Trust Co LLC lifted its position in shares of Lam Research by 7.7% during the 4th quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock worth $143,000 after purchasing an additional 13 shares during the last quarter. CNB Bank lifted its position in shares of Lam Research by 1.4% during the 4th quarter. CNB Bank now owns 1,032 shares of the semiconductor company’s stock worth $808,000 after purchasing an additional 14 shares during the last quarter. TRUE Private Wealth Advisors lifted its position in shares of Lam Research by 4.1% during the 4th quarter. TRUE Private Wealth Advisors now owns 378 shares of the semiconductor company’s stock worth $296,000 after purchasing an additional 15 shares during the last quarter. Clear Creek Financial Management LLC lifted its position in shares of Lam Research by 1.3% during the 3rd quarter. Clear Creek Financial Management LLC now owns 1,342 shares of the semiconductor company’s stock worth $841,000 after purchasing an additional 17 shares during the last quarter. Finally, Asset Dedication LLC lifted its position in shares of Lam Research by 56.7% during the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 17 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lam Research

In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the transaction, the director now owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the transaction, the director now owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the sale, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock valued at $6,559,489 over the last quarter. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. TD Cowen boosted their price target on shares of Lam Research from $710.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Wells Fargo & Company boosted their price target on shares of Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. UBS Group boosted their price target on shares of Lam Research from $885.00 to $1,130.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Finally, Raymond James boosted their price target on shares of Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and an average price target of $931.85.

Lam Research Price Performance

LRCX traded down $2.18 on Monday, hitting $868.07. 1,855,905 shares of the company were exchanged, compared to its average volume of 1,058,232. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The business’s fifty day moving average is $944.64 and its 200 day moving average is $804.00. Lam Research Co. has a fifty-two week low of $493.42 and a fifty-two week high of $1,007.39. The firm has a market capitalization of $113.80 billion, a P/E ratio of 33.57, a price-to-earnings-growth ratio of 3.15 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, topping the consensus estimate of $7.06 by $0.46. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period in the prior year, the business posted $10.71 earnings per share. The firm’s revenue for the quarter was down 28.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lam Research Co. will post 28.92 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is presently 30.94%.

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.