Maryland State Retirement & Pension System Decreases Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Maryland State Retirement & Pension System trimmed its position in shares of Lam Research Co. (NASDAQ:LRCX) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,246 shares of the semiconductor company’s stock after selling 87 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Lam Research were worth $8,025,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Arlington Trust Co LLC increased its holdings in shares of Lam Research by 7.7% during the fourth quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock valued at $143,000 after acquiring an additional 13 shares in the last quarter. CNB Bank increased its holdings in shares of Lam Research by 1.4% during the fourth quarter. CNB Bank now owns 1,032 shares of the semiconductor company’s stock valued at $808,000 after acquiring an additional 14 shares in the last quarter. TRUE Private Wealth Advisors increased its holdings in shares of Lam Research by 4.1% during the fourth quarter. TRUE Private Wealth Advisors now owns 378 shares of the semiconductor company’s stock valued at $296,000 after acquiring an additional 15 shares in the last quarter. Asset Dedication LLC increased its holdings in shares of Lam Research by 56.7% during the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 17 shares in the last quarter. Finally, Western Financial Corp CA increased its holdings in shares of Lam Research by 1.7% during the fourth quarter. Western Financial Corp CA now owns 1,003 shares of the semiconductor company’s stock valued at $786,000 after acquiring an additional 17 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of NASDAQ:LRCX traded up $16.01 during midday trading on Monday, reaching $924.54. 754,472 shares of the company’s stock traded hands, compared to its average volume of 1,063,677. Lam Research Co. has a 1 year low of $512.09 and a 1 year high of $1,007.39. The company has a market cap of $120.87 billion, a P/E ratio of 34.00, a PEG ratio of 2.82 and a beta of 1.51. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.84 and a current ratio of 2.82. The company has a fifty day simple moving average of $941.03 and a two-hundred day simple moving average of $822.52.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share 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 firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $6.99 EPS. Equities analysts predict that Lam Research Co. will post 29.62 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were issued a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a yield of 0.87%. Lam Research’s payout ratio is currently 29.42%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LRCX shares. Evercore ISI started coverage on shares of Lam Research in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 price objective on the stock. Wells Fargo & Company increased their price target 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. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a report on Saturday. The Goldman Sachs Group increased their price target on shares of Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $1,100.00 price target on shares of Lam Research in a report on Thursday, April 25th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $950.85.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the transaction, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the sale, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,489 shares of company stock worth $6,978,065. 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.