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

Retirement Systems of Alabama trimmed its stake in Lam Research Co. (NASDAQ:LRCX) by 0.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 28,840 shares of the semiconductor company’s stock after selling 97 shares during the period. Retirement Systems of Alabama’s holdings in Lam Research were worth $30,710,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Lam Research by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after purchasing an additional 144,914 shares in the last quarter. Fisher Asset Management LLC increased its position 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 worth $2,329,037,000 after purchasing an additional 86,721 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Lam Research by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after acquiring an additional 142,903 shares during the period. Norges Bank acquired a new stake in shares of Lam Research in the fourth quarter valued at about $1,414,111,000. Finally, Van ECK Associates Corp boosted its stake in shares of Lam Research by 24.6% during the 1st quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock worth $940,592,000 after acquiring an additional 191,230 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LRCX has been the topic of several research reports. Jefferies Financial Group assumed coverage on shares of Lam Research in a research report on Monday, May 13th. They issued a “buy” rating and a $1,100.00 price target on the stock. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft dropped their price objective on Lam Research from $1,100.00 to $950.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Wells Fargo & Company cut their target price on shares of Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Finally, Barclays lifted their price target on shares of Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 5th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,006.10.

Lam Research Trading Up 1.4 %

Shares of NASDAQ LRCX traded up $11.65 during midday trading on Friday, hitting $847.37. The stock had a trading volume of 1,067,121 shares, compared to its average volume of 1,071,567. The company has a quick ratio of 1.84, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. Lam Research Co. has a 1-year low of $574.42 and a 1-year high of $1,130.00. The company has a market capitalization of $110.79 billion, a price-to-earnings ratio of 31.16, a PEG ratio of 2.41 and a beta of 1.48. The company has a fifty day moving average price of $955.97 and a 200 day moving average price of $945.30.

Shares of Lam Research are scheduled to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be payable 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, beating the consensus estimate of $7.58 by $0.56. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter last year, the company earned $5.98 earnings per share. Lam Research’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, analysts predict that Lam Research Co. will post 35.09 earnings per share for the current year.

Lam Research declared that its board has approved a share repurchase program on Tuesday, May 21st that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to buy up to 8.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Timothy Archer sold 9,650 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the transaction, the chief executive officer now owns 84,639 shares in the company, valued at $90,596,739.21. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Timothy Archer sold 9,650 shares of Lam Research stock in a transaction on Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the completion of the sale, the chief executive officer now owns 84,639 shares in the company, valued at $90,596,739.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Neil J. Fernandes sold 4,409 shares of the stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the transaction, the senior vice president now owns 6,857 shares in the company, valued at $7,239,346.32. The disclosure for this sale can be found here. Insiders have sold 16,326 shares of company stock valued at $17,383,715 in the last quarter. Company insiders own 0.32% of the company’s stock.

Lam Research 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.