Teachers Retirement System of The State of Kentucky Purchases Shares of 13,110 Lam Research Co. (NASDAQ:LRCX)

Teachers Retirement System of The State of Kentucky purchased a new stake in Lam Research Co. (NASDAQ:LRCX – Get Rating) during the 3rd quarter, Holdings Channel reports. The firm purchased 13,110 shares of the semiconductor company’s stock, valued at approximately $4,799,000.

Several other large investors also recently made changes to their positions in LRCX. McIlrath & Eck LLC increased its stake in shares of Lam Research by 185.2% in the third quarter. McIlrath & Eck LLC now owns 77 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 50 shares during the period. Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of Lam Research in the third quarter valued at approximately $30,000. Norwood Financial Corp acquired a new stake in shares of Lam Research in the third quarter valued at approximately $31,000. Beacon Capital Management LLC acquired a new stake in shares of Lam Research in the third quarter valued at approximately $32,000. Finally, FinTrust Capital Advisors LLC boosted its holdings in shares of Lam Research by 177.5% in the third quarter. FinTrust Capital Advisors LLC now owns 111 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 71 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Lam Research from $450.00 to $530.00 and gave the company a “buy” rating in a report on Wednesday, November 30th. Mizuho increased their price objective on shares of Lam Research from $500.00 to $525.00 and gave the company a “buy” rating in a report on Thursday, January 26th. The Goldman Sachs Group increased their price objective on shares of Lam Research from $434.00 to $495.00 and gave the company a “buy” rating in a report on Thursday, January 26th. Wells Fargo & Company increased their price objective on shares of Lam Research from $410.00 to $470.00 and gave the company an “equal weight” rating in a report on Thursday, January 26th. Finally, Sanford C. Bernstein cut shares of Lam Research from an “outperform” rating to a “market perform” rating in a report on Monday, March 13th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $492.10.

Lam Research Trading Down 1.3 %

Lam Research stock opened at $508.36 on Friday. The company has a 50 day moving average price of $491.71 and a 200 day moving average price of $443.13. Lam Research Co. has a 52 week low of $299.59 and a 52 week high of $574.79. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.95 and a current ratio of 3.02. The firm has a market capitalization of $68.60 billion, a price-to-earnings ratio of 13.67, a P/E/G ratio of 8.41 and a beta of 1.48.

Lam Research (NASDAQ:LRCX – Get Rating) last posted its quarterly earnings data on Wednesday, January 25th. The semiconductor company reported $10.71 EPS for the quarter, topping analysts’ consensus estimates of $9.95 by $0.76. Lam Research had a net margin of 26.91% and a return on equity of 73.48%. The firm had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same quarter last year, the business posted $8.53 EPS. The company’s revenue was up 24.9% on a year-over-year basis. Research analysts forecast that Lam Research Co. will post 33.3 EPS for the current year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 15th will be given a $1.725 dividend. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $6.90 dividend on an annualized basis and a yield of 1.36%. Lam Research’s payout ratio is 18.55%.

Insiders Place Their Bets

In other Lam Research news, Director Abhijit Y. Talwalkar sold 880 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $429.72, for a total value of $378,153.60. Following the completion of the sale, the director now owns 14,762 shares in the company, valued at approximately $6,343,526.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Lam Research news, Director Abhijit Y. Talwalkar sold 880 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $429.72, for a total value of $378,153.60. Following the completion of the sale, the director now owns 14,762 shares in the company, valued at approximately $6,343,526.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Richard A. Gottscho sold 3,540 shares of the firm’s stock in a transaction on 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 approximately $12,002,400. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

About Lam Research

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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.