Lam Research Co. (NASDAQ:LRCX) Holdings Lifted by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 20.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 170,612 shares of the semiconductor company’s stock after acquiring an additional 29,536 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.11% of Lam Research worth $23,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Johanson Financial Advisors Inc. lifted its stake in shares of Lam Research by 0.9% during the 4th quarter. Johanson Financial Advisors Inc. now owns 7,302 shares of the semiconductor company’s stock valued at $994,000 after buying an additional 62 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Lam Research by 6.2% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,081 shares of the semiconductor company’s stock valued at $147,000 after buying an additional 63 shares in the last quarter. Dividend Assets Capital LLC lifted its stake in shares of Lam Research by 4.8% during the 4th quarter. Dividend Assets Capital LLC now owns 1,524 shares of the semiconductor company’s stock valued at $208,000 after buying an additional 70 shares in the last quarter. Hilltop Holdings Inc. lifted its stake in shares of Lam Research by 4.9% during the 4th quarter. Hilltop Holdings Inc. now owns 1,771 shares of the semiconductor company’s stock valued at $242,000 after buying an additional 83 shares in the last quarter. Finally, FTB Advisors Inc. lifted its stake in shares of Lam Research by 72.0% during the 4th quarter. FTB Advisors Inc. now owns 215 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 90 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

A number of research analysts recently weighed in on LRCX shares. Needham & Company LLC restated a “buy” rating and set a $180.00 target price on shares of Lam Research in a research note on Thursday, January 24th. Credit Suisse Group reiterated a “buy” rating and issued a $278.00 price target on shares of Lam Research in a report on Monday, January 21st. Citigroup reiterated a “buy” rating and issued a $215.00 price target (up from $177.00) on shares of Lam Research in a report on Friday, March 15th. Mizuho reiterated a “buy” rating and issued a $180.00 price target on shares of Lam Research in a report on Tuesday, April 16th. Finally, Morgan Stanley downgraded shares of Lam Research from an “overweight” rating to an “equal weight” rating in a report on Friday, February 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $214.06.

In related news, Director Abhijit Y. Talwalkar sold 3,988 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $195.00, for a total transaction of $777,660.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Patrick J. Lord sold 9,177 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $185.00, for a total transaction of $1,697,745.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,476 shares of company stock worth $4,654,783. Insiders own 0.44% of the company’s stock.

Shares of Lam Research stock traded down $1.52 during trading hours on Friday, reaching $194.77. The company’s stock had a trading volume of 1,409,865 shares, compared to its average volume of 1,689,550. Lam Research Co. has a one year low of $122.64 and a one year high of $209.92. The company has a quick ratio of 2.61, a current ratio of 3.39 and a debt-to-equity ratio of 0.31. The company has a market cap of $29.72 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 1.17 and a beta of 1.52.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 23rd. The semiconductor company reported $3.87 earnings per share for the quarter, topping analysts’ consensus estimates of $3.67 by $0.20. Lam Research had a net margin of 26.69% and a return on equity of 48.08%. The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the firm posted $4.34 EPS. The business’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, sell-side analysts expect that Lam Research Co. will post 13.89 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Wednesday, March 20th were issued a $1.10 dividend. The ex-dividend date was Tuesday, March 19th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.26%. Lam Research’s dividend payout ratio (DPR) is presently 24.62%.

Lam Research declared that its Board of Directors has approved a stock repurchase plan on Wednesday, January 23rd that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to purchase up to 23% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

See Also: Price to Earnings Ratio (PE) Basics

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

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