Lam Research Co. (NASDAQ:LRCX) Position Reduced by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado reduced its position in shares of Lam Research Co. (NASDAQ:LRCX) by 3.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,166 shares of the semiconductor company’s stock after selling 630 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Lam Research were worth $19,344,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of LRCX. Fortitude Family Office LLC boosted its stake in Lam Research by 16.7% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock valued at $67,000 after buying an additional 9 shares in the last quarter. Thomasville National Bank lifted its holdings in Lam Research by 1.5% in the 2nd quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock valued at $865,000 after acquiring an additional 12 shares during the last quarter. Ignite Planners LLC boosted its position in shares of Lam Research by 2.8% during the 2nd quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock valued at $484,000 after purchasing an additional 12 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its stake in shares of Lam Research by 3.7% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock worth $357,000 after purchasing an additional 12 shares during the last quarter. Finally, RFP Financial Group LLC raised its holdings in shares of Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 5,237 shares in the company, valued at $5,535,456.63. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Christina Correia sold 647 shares of the business’s 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 transaction, the chief accounting officer now owns 4,914 shares of the company’s stock, valued at approximately $5,219,945.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Neil J. Fernandes sold 1,620 shares of the stock in a transaction that occurred on 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 ninety days, insiders sold 16,326 shares of company stock worth $17,383,715. 0.32% of the stock is currently owned by insiders.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $773.19 on Friday. 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 Co. has a one year low of $574.42 and a one year high of $1,130.00. The business’s 50-day moving average price is $836.41 and its two-hundred day moving average price is $925.79. The company has a market capitalization of $101.09 billion, a P/E ratio of 28.44, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48.

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

Lam Research (NASDAQ:LRCX) last released 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. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. Lam Research’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.98 EPS. Analysts anticipate that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.19%. 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. Lam Research’s dividend payout ratio (DPR) is presently 33.84%.

Analyst Ratings Changes

LRCX has been the topic of several recent research reports. Raymond James lifted their price target on shares of Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. 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 research report on Thursday, August 1st. 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. Morgan Stanley cut their price objective on Lam Research from $929.00 to $774.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, Citigroup dropped their target price on shares of Lam Research from $990.00 to $893.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,012.84.

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.