Kentucky Retirement Systems Sells 104 Shares of Lam Research Co. (NASDAQ:LRCX)

Kentucky Retirement Systems trimmed its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,852 shares of the semiconductor company’s stock after selling 104 shares during the period. Kentucky Retirement Systems’ holdings in Lam Research were worth $10,491,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of LRCX. Cypress Capital Group lifted its holdings in shares of Lam Research by 23.1% in the 2nd quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company’s stock worth $3,757,000 after purchasing an additional 661 shares in the last quarter. Meeder Advisory Services Inc. lifted its holdings in shares of Lam Research by 29.4% in the 2nd quarter. Meeder Advisory Services Inc. now owns 3,022 shares of the semiconductor company’s stock worth $3,218,000 after purchasing an additional 686 shares in the last quarter. Brookstone Capital Management lifted its holdings in shares of Lam Research by 142.6% in the 2nd quarter. Brookstone Capital Management now owns 1,601 shares of the semiconductor company’s stock worth $1,705,000 after purchasing an additional 941 shares in the last quarter. FineMark National Bank & Trust lifted its holdings in shares of Lam Research by 14.5% in the 2nd quarter. FineMark National Bank & Trust now owns 474 shares of the semiconductor company’s stock worth $505,000 after purchasing an additional 60 shares in the last quarter. Finally, Foundations Investment Advisors LLC lifted its holdings in shares of Lam Research by 534.3% in the 2nd quarter. Foundations Investment Advisors LLC now owns 5,569 shares of the semiconductor company’s stock worth $5,930,000 after purchasing an additional 4,691 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LRCX. Deutsche Bank Aktiengesellschaft cut their target price on Lam Research from $1,100.00 to $950.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Morgan Stanley lowered their price target on Lam Research from $929.00 to $774.00 and set an “equal weight” rating for the company in a research report on Tuesday. UBS Group lowered their price target on Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Barclays increased their price target on Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. Finally, Citigroup lowered their price target on Lam Research from $990.00 to $893.00 and set a “buy” rating for the company in a research report on Monday. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,013.37.

Lam Research Trading Down 1.3 %

Shares of Lam Research stock opened at $755.87 on Thursday. Lam Research Co. has a 1 year low of $574.42 and a 1 year high of $1,130.00. The firm has a market cap of $98.82 billion, a PE ratio of 27.80, a P/E/G ratio of 1.48 and a beta of 1.48. The stock has a fifty day moving average price of $847.76 and a 200-day moving average price of $928.18. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00.

Lam Research shares are scheduled to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be issued to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, topping the consensus estimate of $7.58 by $0.56. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.98 EPS. Equities research analysts anticipate that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be paid a dividend of $2.30 per share. This is an increase from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $9.20 annualized dividend and a dividend yield of 1.22%. Lam Research’s dividend payout ratio is presently 33.84%.

Insider Transactions at Lam Research

In other news, SVP Neil J. Fernandes sold 1,620 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the completion of the transaction, the senior vice president now owns 5,237 shares in the company, valued at approximately $5,535,456.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the completion of the sale, the chief accounting officer now owns 4,914 shares in the company, valued at approximately $5,219,945.64. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Neil J. Fernandes sold 1,620 shares of Lam Research stock in a transaction dated 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 sale, the senior vice president now owns 5,237 shares of the company’s stock, valued at approximately $5,535,456.63. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,326 shares of company stock worth $17,383,715. 0.32% of the stock is owned by company insiders.

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.