Retirement Systems of Alabama Trims Stake in Lam Research Co. (NASDAQ:LRCX)

Retirement Systems of Alabama lessened its holdings in Lam Research Co. (NASDAQ:LRCX) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,046 shares of the semiconductor company’s stock after selling 1,094 shares during the period. Retirement Systems of Alabama’s holdings in Lam Research were worth $22,751,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of LRCX. Valued Wealth Advisors LLC purchased a new position in Lam Research during the fourth quarter worth about $30,000. Orion Capital Management LLC purchased a new position in shares of Lam Research during the 3rd quarter worth approximately $25,000. BluePath Capital Management LLC acquired a new stake in Lam Research in the 3rd quarter valued at approximately $28,000. Asset Dedication LLC raised its position in Lam Research by 56.7% in the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 17 shares during the period. Finally, Rakuten Securities Inc. acquired a new position in Lam Research during the fourth quarter worth $38,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Performance

Shares of LRCX opened at $928.81 on Tuesday. The company’s 50 day simple moving average is $943.72 and its 200-day simple moving average is $813.44. Lam Research Co. has a 12-month low of $507.19 and a 12-month high of $1,007.39. The firm has a market cap of $121.77 billion, a PE ratio of 34.16, a price-to-earnings-growth ratio of 2.88 and a beta of 1.51. The company has a current ratio of 2.82, a quick ratio of 1.84 and a debt-to-equity ratio of 0.56.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the previous year, the business posted $6.99 earnings per share. Lam Research’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, equities analysts predict that Lam Research Co. will post 29.54 EPS for the current year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were paid a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 annualized dividend and a dividend yield of 0.86%. Lam Research’s dividend payout ratio (DPR) is currently 29.42%.

Insider Activity

In related news, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the transaction, the director now directly owns 10,541 shares in the company, valued at approximately $10,246,168.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $857,330.46. Following the transaction, the director now owns 10,541 shares in the company, valued at approximately $10,246,168.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were 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 $20,380,648.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,029 shares of company stock valued at $6,559,489. Company insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. The Goldman Sachs Group upped their target price on shares of Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. StockNews.com raised shares of Lam Research from a “hold” rating to a “buy” rating in a research report on Friday. TD Cowen increased their price objective on Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $1,100.00 price target on shares of Lam Research in a report on Thursday, April 25th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and an average price target of $950.85.

About Lam Research

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.