Teacher Retirement System of Texas Sells 59,033 Shares of Lam Research Corporation (NASDAQ:LRCX)

Teacher Retirement System of Texas lowered its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 8.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 630,705 shares of the semiconductor company's stock after selling 59,033 shares during the quarter. Teacher Retirement System of Texas' holdings in Lam Research were worth $45,852,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Lodestone Wealth Management LLC purchased a new position in shares of Lam Research in the first quarter worth $236,000. Novem Group grew its stake in shares of Lam Research by 22.9% during the first quarter. Novem Group now owns 19,918 shares of the semiconductor company's stock valued at $1,448,000 after buying an additional 3,709 shares during the last quarter. Private Trust Co. NA grew its position in Lam Research by 18.6% in the 1st quarter. Private Trust Co. NA now owns 6,441 shares of the semiconductor company's stock valued at $468,000 after acquiring an additional 1,010 shares during the last quarter. Pinnacle Financial Partners Inc purchased a new stake in Lam Research in the first quarter worth $201,000. Finally, Compound Global Advisors LLC bought a new stake in shares of Lam Research during the first quarter worth $273,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on LRCX shares. Jefferies Financial Group boosted their price objective on shares of Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, March 28th. TD Cowen reduced their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft set a $70.00 price target on Lam Research and gave the stock a "hold" rating in a research report on Thursday, April 24th. Morgan Stanley upped their price objective on shares of Lam Research from $82.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Finally, Argus raised shares of Lam Research to a "strong-buy" rating in a research report on Friday, April 25th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Lam Research has an average rating of "Moderate Buy" and an average target price of $94.20.

Lam Research Stock Performance

Shares of LRCX opened at $98.83 on Thursday. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $113.00. The stock has a 50-day simple moving average of $84.60 and a 200-day simple moving average of $78.66. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. The stock has a market capitalization of $126.42 billion, a PE ratio of 27.54, a PEG ratio of 1.37 and a beta of 1.68.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The firm had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the previous year, the firm posted $7.79 earnings per share. The company's revenue was up 24.4% compared to the same quarter last year. On average, analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

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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