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

Retirement Systems of Alabama lowered its holdings in Lam Research Co. (NASDAQ:LRCX) by 0.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 28,613 shares of the semiconductor company’s stock after selling 227 shares during the period. Retirement Systems of Alabama’s holdings in Lam Research were worth $23,350,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in LRCX. CarsonAllaria Wealth Management Ltd. purchased a new stake in Lam Research in the second quarter worth $32,000. RFP Financial Group LLC raised its holdings in 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. Hobbs Group Advisors LLC purchased a new stake in shares of Lam Research in the 2nd quarter worth about $40,000. MFA Wealth Advisors LLC bought a new stake in shares of Lam Research during the 2nd quarter valued at about $45,000. Finally, Rosenberg Matthew Hamilton increased its position in shares of Lam Research by 24.0% during the second quarter. Rosenberg Matthew Hamilton now owns 62 shares of the semiconductor company’s stock valued at $66,000 after buying an additional 12 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $76.26 on Friday. The firm has a market cap of $98.12 billion, a P/E ratio of 24.68, a PEG ratio of 1.25 and a beta of 1.46. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average of $75.77 and a 200 day moving average of $85.42.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The firm had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the previous year, the business earned $6.85 earnings per share. The company’s revenue was up 19.7% on a year-over-year basis. As a group, research analysts expect that Lam Research Co. will post 3.5 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.21%. Lam Research’s dividend payout ratio is presently 29.77%.

Insider Activity

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 13.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on LRCX shares. Wells Fargo & Company cut their price objective on Lam Research from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Friday, December 6th. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. Citigroup decreased their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. Mizuho dropped their target price on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Finally, Morgan Stanley increased their price target on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $97.24.

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.