Louisiana State Employees Retirement System Has $14.04 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

by · The Cerbat Gem

Louisiana State Employees Retirement System trimmed its stake in shares of Lam Research Co. (NASDAQ:LRCX – Free Report) by 3.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,200 shares of the semiconductor company’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Lam Research were worth $14,037,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. acquired a new position in Lam Research during the 2nd quarter worth approximately $32,000. RFP Financial Group LLC increased its position in Lam Research by 52.2% during 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 acquired a new position in Lam Research during the 2nd quarter worth approximately $40,000. Country Trust Bank acquired a new position in Lam Research in the 2nd quarter valued at approximately $43,000. Finally, MFA Wealth Advisors LLC acquired a new position in Lam Research in the 2nd quarter valued at approximately $45,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on LRCX shares. Mizuho decreased their price target on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. TD Cowen upped their price target on shares of Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus restated a “buy” rating and issued a $100.00 price target (down from $105.00) on shares of Lam Research in a research report on Thursday. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 price target on shares of Lam Research in a research report on Thursday. Six investment 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 has an average rating of “Moderate Buy” and a consensus price target of $97.03.

Get Our Latest Report on Lam Research

Lam Research Stock Up 1.4 %

Shares of NASDAQ LRCX opened at $77.68 on Friday. The firm has a market cap of $100.68 billion, a PE ratio of 26.79, a P/E/G ratio of 1.89 and a beta of 1.47. Lam Research Co. has a 12-month low of $57.44 and a 12-month high of $113.00. The company’s fifty day simple moving average is $79.44 and its 200 day simple moving average is $89.84. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52.

Lam Research (NASDAQ:LRCX – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period in the prior year, the firm earned $6.85 earnings per share. Lam Research’s revenue was up 19.7% on a year-over-year basis. As a group, sell-side analysts forecast that Lam Research Co. will post 3.23 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 annualized dividend and a yield of 1.18%. Lam Research’s payout ratio is 31.72%.

Insiders Place Their Bets

In other news, CAO Christina Correia sold 647 shares of the stock in a transaction dated 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 in the company, valued at $3,488,315.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.29% of the company’s stock.

About Lam Research

(Free Report)

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.

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