Kentucky Retirement Systems Sells 769 Shares of Lam Research Co. (NASDAQ:LRCX)

Kentucky Retirement Systems lowered its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 7.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,083 shares of the semiconductor company’s stock after selling 769 shares during the period. Kentucky Retirement Systems’ holdings in Lam Research were worth $7,412,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in LRCX. Cornercap Investment Counsel Inc. boosted its position in Lam Research by 184.8% in the third quarter. Cornercap Investment Counsel Inc. now owns 1,777 shares of the semiconductor company’s stock worth $1,450,000 after purchasing an additional 1,153 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Lam Research by 5.3% in the third quarter. CIBC Asset Management Inc now owns 40,423 shares of the semiconductor company’s stock worth $32,988,000 after buying an additional 2,051 shares during the last quarter. Lifeworks Advisors LLC boosted its holdings in shares of Lam Research by 23.5% in the third quarter. Lifeworks Advisors LLC now owns 1,838 shares of the semiconductor company’s stock worth $1,500,000 after buying an additional 350 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in Lam Research by 5.7% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,646 shares of the semiconductor company’s stock valued at $2,975,000 after buying an additional 198 shares during the period. Finally, Huntington National Bank raised its position in Lam Research by 2.8% in the third quarter. Huntington National Bank now owns 28,235 shares of the semiconductor company’s stock worth $23,042,000 after acquiring an additional 770 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Performance

Lam Research stock opened at $70.05 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Lam Research Co. has a twelve month low of $68.72 and a twelve month high of $113.00. The company’s 50-day moving average price is $77.23 and its 200-day moving average price is $87.99. The company has a market cap of $90.13 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48.

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

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s payout ratio is 29.74%.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on LRCX. Deutsche Bank Aktiengesellschaft reduced their price target on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. UBS Group reduced their price objective on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Wells Fargo & Company dropped their target price on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Stifel Nicolaus restated a “buy” rating and issued a $100.00 price objective (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Finally, Citigroup cut their target price on 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 issued 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 $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.