Kentucky Retirement Systems Insurance Trust Fund Reduces Stock Position in Lam Research Co. (NASDAQ:LRCX)

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in Lam Research Co. (NASDAQ:LRCX) by 8.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,860 shares of the semiconductor company’s stock after selling 357 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Lam Research were worth $3,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Blair William & Co. IL boosted its stake in shares of Lam Research by 5.9% during the 1st quarter. Blair William & Co. IL now owns 5,329 shares of the semiconductor company’s stock valued at $5,177,000 after purchasing an additional 297 shares in the last quarter. Tocqueville Asset Management L.P. lifted its stake in shares of Lam Research by 0.9% in the 1st quarter. Tocqueville Asset Management L.P. now owns 1,897 shares of the semiconductor company’s stock valued at $1,843,000 after purchasing an additional 16 shares during the period. TIAA Trust National Association grew its stake in Lam Research by 3.4% in the first quarter. TIAA Trust National Association now owns 4,569 shares of the semiconductor company’s stock worth $4,439,000 after purchasing an additional 152 shares during the period. Acadian Asset Management LLC raised its holdings in Lam Research by 88.6% in the first quarter. Acadian Asset Management LLC now owns 7,876 shares of the semiconductor company’s stock worth $7,647,000 after purchasing an additional 3,700 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board boosted its holdings in shares of Lam Research by 17.2% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 3,625 shares of the semiconductor company’s stock valued at $3,522,000 after buying an additional 532 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on LRCX shares. Morgan Stanley dropped their price objective on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Citigroup lowered their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. Mizuho cut their target price on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Wells Fargo & Company dropped their price target on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Finally, B. Riley reduced their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

Lam Research Trading Down 6.3 %

Lam Research stock opened at $70.05 on Friday. Lam Research Co. has a 1 year low of $68.72 and a 1 year high of $113.00. The firm’s 50 day moving average price is $77.23 and its 200-day moving average price is $87.99. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The stock has a market cap of $90.13 billion, a P/E ratio of 22.64, a PEG ratio of 1.17 and a beta of 1.48.

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

Lam Research Announces Dividend

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

Insider Buying and Selling at Lam Research

In related news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was 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 directly owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is owned by company insiders.

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.