Maryland State Retirement & Pension System Sells 8,787 Shares of Lam Research Corporation (NASDAQ:LRCX)

Maryland State Retirement & Pension System trimmed its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 12.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,111 shares of the semiconductor company's stock after selling 8,787 shares during the quarter. Maryland State Retirement & Pension System's holdings in Lam Research were worth $4,370,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Pinnacle Financial Partners Inc bought a new stake in Lam Research during the first quarter worth approximately $201,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Lam Research during the fourth quarter valued at approximately $6,296,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Lam Research by 27.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 49,505 shares of the semiconductor company's stock valued at $3,607,000 after buying an additional 10,565 shares during the last quarter. First Citizens Bank & Trust Co. grew its stake in shares of Lam Research by 47.8% during the first quarter. First Citizens Bank & Trust Co. now owns 121,902 shares of the semiconductor company's stock valued at $8,862,000 after buying an additional 39,414 shares during the last quarter. Finally, Global X Japan Co. Ltd. bought a new position in shares of Lam Research during the first quarter valued at approximately $3,152,000. 84.61% of the stock is owned by institutional investors.

Lam Research Price Performance

Shares of LRCX opened at $99.15 on Friday. The business's 50-day moving average is $95.10 and its two-hundred day moving average is $82.89. The company has a market capitalization of $126.82 billion, a P/E ratio of 23.83, a P/E/G ratio of 1.24 and a beta of 1.65. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.55 and a current ratio of 2.21. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $102.59.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.12. The company had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $4.99 billion. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The firm's revenue for the quarter was up 33.6% compared to the same quarter last year. During the same period last year, the firm earned $1.03 EPS. Research analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.9%. Lam Research's dividend payout ratio (DPR) is 22.12%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on LRCX shares. Needham & Company LLC upped their target price on Lam Research from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. TD Securities dropped their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Summit Insights cut Lam Research from a "buy" rating to a "hold" rating in a research note on Thursday, July 31st. The Goldman Sachs Group began coverage on Lam Research in a research note on Thursday, July 10th. They issued a "buy" rating and a $115.00 price objective on the stock. Finally, Stifel Nicolaus increased their price objective on Lam Research from $92.00 to $110.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, Lam Research currently has an average rating of "Moderate Buy" and a consensus target price of $107.09.

Lam Research 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.

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