California Public Employees Retirement System Sells 11,937 Shares of Lam Research Co. (NASDAQ:LRCX)

California Public Employees Retirement System reduced its stake in Lam Research Co. (NASDAQ:LRCX) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 254,075 shares of the semiconductor company’s stock after selling 11,937 shares during the period. California Public Employees Retirement System owned 0.19% of Lam Research worth $199,007,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Valued Wealth Advisors LLC bought a new stake in Lam Research in the fourth quarter valued at $30,000. Orion Capital Management LLC bought a new stake in shares of Lam Research during the third quarter worth about $25,000. BluePath Capital Management LLC bought a new stake in shares of Lam Research during the third quarter worth about $28,000. Asset Dedication LLC increased its position in shares of Lam Research by 56.7% during the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 17 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new stake in shares of Lam Research during the fourth quarter worth about $38,000. 84.61% of the stock is owned by institutional investors.

Lam Research Price Performance

NASDAQ LRCX traded up $13.88 on Tuesday, hitting $881.95. The stock had a trading volume of 155,125 shares, compared to its average volume of 1,045,949. Lam Research Co. has a 52-week low of $493.42 and a 52-week high of $1,007.39. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The company has a market capitalization of $115.62 billion, a price-to-earnings ratio of 33.57, a price-to-earnings-growth ratio of 3.15 and a beta of 1.51. The firm has a 50-day moving average of $944.64 and a 200-day moving average of $804.00.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.06 by $0.46. The business had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The business’s revenue for the quarter was down 28.8% compared to the same quarter last year. During the same period in the prior year, the company posted $10.71 EPS. Equities analysts expect that Lam Research Co. will post 28.92 EPS for the current year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is currently 30.94%.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the transaction, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,029 shares of company stock worth $6,559,489. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LRCX. Wells Fargo & Company boosted their target price on shares of Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Lam Research in a research report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 target price for the company. UBS Group boosted their price target on shares of Lam Research from $885.00 to $1,130.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. The Goldman Sachs Group boosted their price target on shares of Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Evercore ISI began coverage on shares of Lam Research in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 price target on the stock. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $931.85.

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.