California State Teachers Retirement System Sells 4,245 Shares of Lam Research Co. (NASDAQ:LRCX)

California State Teachers Retirement System trimmed its position in Lam Research Co. (NASDAQ:LRCX – Get Rating) by 1.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 232,095 shares of the semiconductor company’s stock after selling 4,245 shares during the quarter. California State Teachers Retirement System owned 0.17% of Lam Research worth $84,947,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in LRCX. Price T Rowe Associates Inc. MD increased its stake in Lam Research by 345.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,224,808 shares of the semiconductor company’s stock valued at $521,952,000 after acquiring an additional 949,749 shares during the last quarter. Artisan Partners Limited Partnership bought a new position in Lam Research in the second quarter valued at approximately $358,611,000. Sands Capital Management LLC increased its stake in Lam Research by 43.0% in the second quarter. Sands Capital Management LLC now owns 1,877,199 shares of the semiconductor company’s stock valued at $799,968,000 after acquiring an additional 564,607 shares during the last quarter. Coatue Management LLC bought a new position in Lam Research in the third quarter valued at approximately $177,616,000. Finally, Fisher Asset Management LLC increased its stake in Lam Research by 13.8% in the third quarter. Fisher Asset Management LLC now owns 2,268,753 shares of the semiconductor company’s stock valued at $830,364,000 after acquiring an additional 275,864 shares during the last quarter. 81.60% of the stock is owned by institutional investors.

Insider Activity at Lam Research

In related news, EVP Richard A. Gottscho sold 3,540 shares of the business’s stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $450.00, for a total value of $1,593,000.00. Following the transaction, the executive vice president now owns 26,672 shares in the company, valued at $12,002,400. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Richard A. Gottscho sold 3,540 shares of the company’s stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $450.00, for a total transaction of $1,593,000.00. Following the transaction, the executive vice president now owns 26,672 shares in the company, valued at $12,002,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Abhijit Y. Talwalkar sold 880 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $429.72, for a total transaction of $378,153.60. Following the transaction, the director now owns 14,762 shares in the company, valued at approximately $6,343,526.64. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Lam Research from $410.00 to $470.00 and gave the company an “equal weight” rating in a research note on Thursday, January 26th. Stifel Nicolaus started coverage on shares of Lam Research in a research note on Tuesday, January 17th. They set a “hold” rating and a $495.00 target price on the stock. StockNews.com started coverage on shares of Lam Research in a research note on Thursday. They set a “buy” rating on the stock. Evercore ISI set a $450.00 target price on shares of Lam Research in a research note on Wednesday, November 23rd. Finally, UBS Group boosted their target price on shares of Lam Research from $450.00 to $530.00 and gave the stock a “buy” rating in a research note on Wednesday, November 30th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $492.10.

Lam Research Price Performance

LRCX stock opened at $487.05 on Thursday. The firm has a market cap of $65.72 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 8.26 and a beta of 1.48. The company has a quick ratio of 1.95, a current ratio of 3.02 and a debt-to-equity ratio of 0.60. Lam Research Co. has a 12-month low of $299.59 and a 12-month high of $574.79. The company’s fifty day simple moving average is $488.48 and its 200 day simple moving average is $442.18.

Lam Research (NASDAQ:LRCX – Get Rating) last released its earnings results on Wednesday, January 25th. The semiconductor company reported $10.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.95 by $0.76. The business had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.08 billion. Lam Research had a net margin of 26.91% and a return on equity of 73.48%. Lam Research’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.53 earnings per share. On average, analysts expect that Lam Research Co. will post 33.3 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 5th. Investors of record on Wednesday, March 15th will be issued a $1.725 dividend. The ex-dividend date is Tuesday, March 14th. This represents a $6.90 annualized dividend and a yield of 1.42%. Lam Research’s payout ratio is 18.55%.

Lam Research Company Profile

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Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.