New York State Common Retirement Fund Decreases Position in Lam Research Co. (NASDAQ:LRCX)

New York State Common Retirement Fund lowered its position in Lam Research Co. (NASDAQ:LRCX) by 7.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 161,881 shares of the semiconductor company’s stock after selling 12,700 shares during the period. New York State Common Retirement Fund’s holdings in Lam Research were worth $132,108,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of LRCX. Vanguard Group Inc. boosted its position in shares of Lam Research by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after purchasing an additional 144,914 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake 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 purchasing an additional 142,903 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Lam Research by 7.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock worth $1,335,522,000 after acquiring an additional 89,470 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Lam Research by 11.1% in the 2nd quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock valued at $1,145,664,000 after acquiring an additional 107,778 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Lam Research by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock worth $654,009,000 after buying an additional 25,362 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Trading Up 0.5 %

Lam Research stock traded up $0.34 during trading hours on Friday, reaching $74.69. 569,541 shares of the company’s stock traded hands, compared to its average volume of 11,248,963. The firm’s 50 day moving average is $78.33 and its 200-day moving average is $89.13. The firm has a market capitalization of $96.10 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 1.22 and a beta of 1.47. Lam Research Co. has a fifty-two week low of $61.82 and a fifty-two week high of $113.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same period in the prior year, the business earned $6.85 EPS. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. On average, analysts predict that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research’s dividend payout ratio is presently 29.74%.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft decreased their price target on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $100.00 price target (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. TD Cowen raised their price target on shares of Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 1st. BNP Paribas raised Lam Research to a “hold” rating in a research report on Thursday, October 24th. Finally, Citigroup cut their price objective on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research report on Monday, September 16th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $97.03.

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.