California State Teachers Retirement System decreased its holdings in Lam Research Co. (NASDAQ:LRCX) by 8.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 271,141 shares of the semiconductor company’s stock after selling 25,410 shares during the quarter. California State Teachers Retirement System owned 0.17% of Lam Research worth $50,172,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vantage Financial Partners Ltd. Inc. bought a new position in Lam Research in the 2nd quarter valued at about $254,000. Bollard Group LLC bought a new position in shares of Lam Research during the 3rd quarter worth approximately $130,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Lam Research during the 3rd quarter worth approximately $134,000. Odey Holdings AG lifted its position in shares of Lam Research by 9.9% during the 2nd quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock worth $115,000 after buying an additional 73 shares in the last quarter. Finally, BDO Wealth Advisors LLC bought a new position in shares of Lam Research during the 2nd quarter worth approximately $118,000. 93.80% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Michael R. Cannon sold 9,000 shares of Lam Research stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $212.43, for a total value of $1,911,870.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Martin B. Anstice sold 21,955 shares of Lam Research stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $211.16, for a total transaction of $4,636,017.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,247 shares of company stock valued at $12,162,864. 0.41% of the stock is currently owned by company insiders.

Several equities analysts have commented on LRCX shares. Argus started coverage on shares of Lam Research in a research report on Tuesday, September 12th. They set a “buy” rating and a $196.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and set a $200.00 target price on shares of Lam Research in a research report on Friday, September 1st. ValuEngine cut shares of Lam Research from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Credit Suisse Group reissued a “buy” rating on shares of Lam Research in a research report on Tuesday, August 29th. Finally, DA Davidson reissued a “buy” rating and set a $215.00 target price on shares of Lam Research in a research report on Thursday, October 12th. Four investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Lam Research currently has a consensus rating of “Buy” and a consensus target price of $212.99.

Shares of Lam Research Co. (NASDAQ LRCX) opened at $182.10 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.83 and a current ratio of 3.31. Lam Research Co. has a one year low of $104.01 and a one year high of $219.70. The stock has a market cap of $29,404.57, a P/E ratio of 15.64, a PEG ratio of 0.83 and a beta of 1.57.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.27 by $0.19. Lam Research had a net margin of 22.85% and a return on equity of 30.19%. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the business posted $1.81 EPS. Lam Research’s quarterly revenue was up 51.8% compared to the same quarter last year. research analysts expect that Lam Research Co. will post 14.74 earnings per share for the current year.

Lam Research declared that its board has authorized a share repurchase plan on Tuesday, November 14th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the semiconductor company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 6th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $2.00 annualized dividend and a dividend yield of 1.10%. This is a positive change from Lam Research’s previous quarterly dividend of $0.45. Lam Research’s dividend payout ratio (DPR) is presently 18.28%.

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About Lam Research

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.

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

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