Lam Research Corporation (LRCX) Shares Sold by Texas Permanent School Fund

Texas Permanent School Fund decreased its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,581 shares of the semiconductor company’s stock after selling 1,197 shares during the period. Texas Permanent School Fund’s holdings in Lam Research Corporation were worth $6,107,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Lam Research Corporation by 2.8% in the fourth quarter. State Street Corp now owns 6,799,704 shares of the semiconductor company’s stock valued at $718,932,000 after buying an additional 186,165 shares during the last quarter. Janus Capital Management LLC raised its position in shares of Lam Research Corporation by 24.3% in the fourth quarter. Janus Capital Management LLC now owns 3,175,155 shares of the semiconductor company’s stock worth $335,710,000 after buying an additional 621,245 shares during the period. LSV Asset Management raised its position in shares of Lam Research Corporation by 22.9% in the first quarter. LSV Asset Management now owns 2,408,170 shares of the semiconductor company’s stock worth $309,112,000 after buying an additional 449,402 shares during the period. Two Sigma Advisers LP raised its position in shares of Lam Research Corporation by 24.5% in the third quarter. Two Sigma Advisers LP now owns 1,994,635 shares of the semiconductor company’s stock worth $188,912,000 after buying an additional 392,474 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Lam Research Corporation by 8.0% in the first quarter. American Century Companies Inc. now owns 1,809,176 shares of the semiconductor company’s stock worth $232,226,000 after buying an additional 134,555 shares during the last quarter. Institutional investors and hedge funds own 99.35% of the company’s stock.

Institutional Ownership by Quarter for Lam Research Corporation (NASDAQ:LRCX)

Lam Research Corporation (NASDAQ LRCX) traded up 1.88% on Monday, hitting $151.00. 3,081,186 shares of the company’s stock were exchanged. The stock has a market cap of $24.36 billion, a P/E ratio of 19.18 and a beta of 1.39. Lam Research Corporation has a 52-week low of $79.15 and a 52-week high of $167.05. The firm has a 50 day moving average price of $153.05 and a 200-day moving average price of $126.60.

Lam Research Corporation (NASDAQ:LRCX) last issued its quarterly earnings results on Tuesday, April 18th. The semiconductor company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.25. The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.13 billion. Lam Research Corporation had a return on equity of 23.84% and a net margin of 19.82%. Lam Research Corporation’s revenue was up 63.9% on a year-over-year basis. During the same period last year, the company earned $1.18 earnings per share. Analysts predict that Lam Research Corporation will post $9.88 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 28th. Investors of record on Wednesday, June 7th will be given a $0.45 dividend. The ex-dividend date is Monday, June 5th. This represents a $1.80 dividend on an annualized basis and a yield of 1.19%. Lam Research Corporation’s dividend payout ratio is presently 22.96%.

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LRCX has been the subject of a number of recent research reports. Zacks Investment Research downgraded Lam Research Corporation from a “buy” rating to a “hold” rating in a research report on Monday, March 27th. Citigroup Inc. reaffirmed a “buy” rating and issued a $200.00 price target on shares of Lam Research Corporation in a research report on Wednesday, May 17th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $145.00 target price (up previously from $140.00) on shares of Lam Research Corporation in a research note on Tuesday, April 18th. Stifel Nicolaus restated a “buy” rating and set a $189.00 price target (up previously from $170.00) on shares of Lam Research Corporation in a research note on Monday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $165.00 price objective (up from $145.00) on shares of Lam Research Corporation in a research report on Saturday, April 22nd. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $151.31.

In other news, COO Timothy Archer sold 8,942 shares of Lam Research Corporation stock in a transaction on Monday, June 12th. The stock was sold at an average price of $155.51, for a total transaction of $1,390,570.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patrick J. Lord sold 2,770 shares of Lam Research Corporation stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $155.35, for a total value of $430,319.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,982 shares of company stock valued at $5,357,071. 0.46% of the stock is owned by corporate insiders.

Lam Research Corporation Company Profile

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.

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