Lam Research Co. (NASDAQ:LRCX) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its holdings in Lam Research Co. (NASDAQ:LRCX) by 3.6% during the 4th quarter, HoldingsChannel reports. The fund owned 29,046 shares of the semiconductor company’s stock after selling 1,094 shares during the quarter. Retirement Systems of Alabama’s holdings in Lam Research were worth $22,751,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Convergence Investment Partners LLC bought a new stake in shares of Lam Research in the fourth quarter worth $240,000. PGGM Investments raised its stake in shares of Lam Research by 0.7% in the 4th quarter. PGGM Investments now owns 14,781 shares of the semiconductor company’s stock valued at $11,577,000 after purchasing an additional 104 shares in the last quarter. Transcend Capital Advisors LLC acquired a new stake in shares of Lam Research in the 4th quarter valued at about $710,000. Unique Wealth Strategies LLC bought a new position in shares of Lam Research during the fourth quarter worth about $759,000. Finally, Dohj LLC acquired a new position in Lam Research in the fourth quarter worth about $500,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Mizuho lifted their target price on Lam Research from $935.00 to $960.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Stifel Nicolaus increased their target price on shares of Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. lifted their price target on shares of Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Evercore ISI initiated coverage on shares of Lam Research in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 price objective for the company. Finally, Wells Fargo & Company raised their target price on shares of Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $950.85.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Abhijit Y. Talwalkar sold 882 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the sale, the director now directly owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The disclosure for this sale can be found here. Insiders sold 7,029 shares of company stock worth $6,559,489 over the last three months. Corporate insiders own 0.32% of the company’s stock.

Lam Research Stock Up 0.4 %

LRCX opened at $928.81 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84. Lam Research Co. has a 12 month low of $507.19 and a 12 month high of $1,007.39. The stock’s 50 day moving average price is $943.72 and its 200 day moving average price is $813.44. The stock has a market cap of $121.77 billion, a P/E ratio of 34.16, a P/E/G ratio of 2.88 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company earned $6.99 earnings per share. As a group, research analysts predict that Lam Research Co. will post 29.54 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio is currently 29.42%.

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.