Teachers Retirement System of The State of Kentucky Has $7.22 Million Holdings in Lam Research Corporation (NASDAQ:LRCX)

Teachers Retirement System of The State of Kentucky increased its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 2.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 99,291 shares of the semiconductor company's stock after buying an additional 2,623 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Lam Research were worth $7,218,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Lam Research in the 1st quarter valued at about $26,000. West Paces Advisors Inc. acquired a new stake in shares of Lam Research in the fourth quarter valued at about $27,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Lam Research in the fourth quarter valued at about $27,000. Park Square Financial Group LLC acquired a new stake in shares of Lam Research in the fourth quarter valued at about $31,000. Finally, Putney Financial Group LLC acquired a new stake in shares of Lam Research in the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Trading Up 1.1%

Shares of LRCX opened at $101.74 on Tuesday. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $102.59. The business's fifty day moving average is $91.10 and its 200-day moving average is $80.94. 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 firm has a market cap of $130.14 billion, a price-to-earnings ratio of 28.36, a PEG ratio of 1.42 and a beta of 1.68.

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

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is 25.63%.

Analyst Upgrades and Downgrades

LRCX has been the topic of a number of recent research reports. Mizuho lifted their target price on Lam Research from $100.00 to $115.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. KeyCorp lifted their target price on Lam Research from $105.00 to $115.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Barclays lowered their target price on Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. The Goldman Sachs Group began coverage on Lam Research in a report on Thursday, July 10th. They set a "buy" rating and a $115.00 price target for the company. Finally, Oppenheimer reissued an "outperform" rating and set a $110.00 price target (up previously from $80.00) on shares of Lam Research in a research report on Tuesday, June 17th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Lam Research has an average rating of "Moderate Buy" and a consensus target price of $100.57.

About Lam Research

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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