Lam Research Corporation $LRCX Shares Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in Lam Research Corporation (NASDAQ:LRCX) by 5.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 414,574 shares of the semiconductor company’s stock after acquiring an additional 21,700 shares during the period. Lam Research makes up about 0.8% of VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings, making the stock its 16th largest holding. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Lam Research were worth $136,192,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of LRCX. World Equity Group Inc. grew its stake in Lam Research by 0.5% during the 2nd quarter. World Equity Group Inc. now owns 5,576 shares of the semiconductor company’s stock worth $2,416,000 after purchasing an additional 29 shares in the last quarter. Vann Equity Management LLC raised its position in Lam Research by 1.1% in the 3rd quarter. Vann Equity Management LLC now owns 2,873 shares of the semiconductor company’s stock valued at $944,000 after purchasing an additional 31 shares in the last quarter. Tenzing Financial LLC raised its position in Lam Research by 3.5% in the 2nd quarter. Tenzing Financial LLC now owns 1,018 shares of the semiconductor company’s stock valued at $441,000 after purchasing an additional 34 shares in the last quarter. Advus Financial Partners LLC boosted its stake in shares of Lam Research by 1.0% in the 2nd quarter. Advus Financial Partners LLC now owns 3,578 shares of the semiconductor company’s stock valued at $1,550,000 after buying an additional 34 shares during the period. Finally, Paragon Private Wealth Management LLC boosted its stake in shares of Lam Research by 1.3% in the 2nd quarter. Paragon Private Wealth Management LLC now owns 2,719 shares of the semiconductor company’s stock valued at $1,178,000 after buying an additional 35 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on LRCX. Jefferies Financial Group set a $335.00 price objective on Lam Research and gave the stock a “buy” rating in a research report on Thursday, July 30th. Evercore set a $315.00 target price on shares of Lam Research in a report on Tuesday, October 20th. Stifel Nicolaus lifted their price target on shares of Lam Research from $325.00 to $425.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Wall Street Zen upgraded shares of Lam Research from a “hold” rating to a “buy” rating in a research note on Saturday, October 24th. Finally, Bank of America reiterated a “buy” rating and set a $345.00 price target on shares of Lam Research in a report on Thursday, October 22nd. Twenty-six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $360.23.

Lam Research Stock Down 6.0%

Shares of NASDAQ LRCX opened at $239.11 on Friday. The company has a market capitalization of $298.69 billion, a price-to-earnings ratio of 35.63, a price-to-earnings-growth ratio of 0.94 and a beta of 1.85. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.48 and a quick ratio of 1.86. The business has a 50-day moving average of $294.47 and a two-hundred day moving average of $283.78. Lam Research Corporation has a 1 year low of $135.50 and a 1 year high of $438.50.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.02. Lam Research had a return on equity of 72.15% and a net margin of 32.34%. The business had revenue of $8.22 billion during the quarter, compared to analysts’ expectations of $8.14 billion. During the same period in the prior year, the firm posted $1.26 EPS. The business’s quarterly revenue was up 54.4% compared to the same quarter last year. On average, analysts forecast that Lam Research Corporation will post 9.59 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Wednesday, September 23rd were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, September 23rd. This is a positive change from Lam Research’s previous quarterly dividend of $0.26. This represents a $1.32 annualized dividend and a yield of 0.6%. Lam Research’s dividend payout ratio (DPR) is presently 19.67%.

Insider Activity at Lam Research

In other Lam Research news, insider Ava Harter sold 5,000 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $302.46, for a total value of $1,512,300.00. Following the transaction, the insider directly owned 42,462 shares in the company, valued at $12,843,056.52. This represents a 10.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 9,557 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the sale, the director directly owned 20,995 shares in the company, valued at approximately $6,607,966.30. The trade was a 31.28% decrease in their position. The SEC filing for this sale provides additional information. 0.31% of the stock is owned by insiders.

About Lam Research

Lam Research Corporation (NASDAQ:LRCX) is a semiconductor equipment company that develops and manufactures systems used to fabricate integrated circuits. Its technologies support key stages of wafer processing, helping semiconductor manufacturers create the increasingly complex structures found in memory, logic and other types of chips.

The company’s product portfolio includes etch systems, which selectively remove materials from wafers; deposition systems, which apply thin films; and cleaning solutions used to remove contaminants and residue during manufacturing.