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

California Public Employees Retirement System trimmed its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 254,075 shares of the semiconductor company’s stock after selling 11,937 shares during the quarter. California Public Employees Retirement System’s holdings in Lam Research were worth $199,007,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Orion Capital Management LLC bought a new stake in shares of Lam Research in the third quarter valued at about $25,000. BluePath Capital Management LLC bought a new stake in shares of Lam Research in the third quarter valued at about $28,000. OFI Invest Asset Management bought a new stake in shares of Lam Research in the third quarter valued at about $30,000. Asset Dedication LLC boosted its position in shares of Lam Research by 56.7% in the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 17 shares during the period. Finally, Valued Wealth Advisors LLC bought a new stake in shares of Lam Research in the fourth quarter valued at about $30,000. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Up 1.6 %

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

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

Lam Research Announces Dividend

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

Wall Street Analyst Weigh In

LRCX has been the subject of a number of analyst reports. UBS Group boosted their price target on Lam Research from $885.00 to $1,130.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Barclays boosted their target price on Lam Research from $750.00 to $825.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 25th. Cantor Fitzgerald boosted their target price on Lam Research from $900.00 to $1,100.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Susquehanna boosted their target price on Lam Research from $655.00 to $880.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Finally, Mizuho boosted their target price on Lam Research from $900.00 to $935.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $931.85.

Insider Buying and Selling

In other Lam Research news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction dated 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 transaction, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the transaction, the director now owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,029 shares of company stock valued at $6,559,489. 0.32% of the stock is owned by insiders.

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.