State Board of Administration of Florida Retirement System cut its holdings in Lam Research Co. (NASDAQ:LRCX) by 3.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 205,353 shares of the semiconductor company’s stock after selling 7,184 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.13% of Lam Research worth $31,152,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Independent Advisor Alliance increased its position in Lam Research by 21.0% in the second quarter. Independent Advisor Alliance now owns 1,574 shares of the semiconductor company’s stock worth $244,000 after purchasing an additional 273 shares during the period. BerganKDV Wealth Management LLC increased its position in Lam Research by 7.0% in the second quarter. BerganKDV Wealth Management LLC now owns 4,458 shares of the semiconductor company’s stock worth $770,000 after purchasing an additional 292 shares during the period. HGK Asset Management Inc. increased its position in Lam Research by 8.9% in the second quarter. HGK Asset Management Inc. now owns 3,686 shares of the semiconductor company’s stock worth $637,000 after purchasing an additional 300 shares during the period. Bollard Group LLC increased its position in Lam Research by 43.0% in the second quarter. Bollard Group LLC now owns 1,005 shares of the semiconductor company’s stock worth $174,000 after purchasing an additional 302 shares during the period. Finally, Stephens Inc. AR increased its position in Lam Research by 5.6% in the second quarter. Stephens Inc. AR now owns 5,669 shares of the semiconductor company’s stock worth $980,000 after purchasing an additional 303 shares during the period. Institutional investors own 89.79% of the company’s stock.
Lam Research stock opened at $152.07 on Wednesday. The stock has a market cap of $23.51 billion, a PE ratio of 8.51, a P/E/G ratio of 0.88 and a beta of 1.30. Lam Research Co. has a 1 year low of $133.42 and a 1 year high of $234.88. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.66 and a quick ratio of 2.00.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Tuesday, October 16th. The semiconductor company reported $3.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.22 by $0.14. Lam Research had a return on equity of 49.80% and a net margin of 21.26%. The business had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the previous year, the business posted $3.46 EPS. Lam Research’s revenue for the quarter was down 6.0% on a year-over-year basis. Equities analysts forecast that Lam Research Co. will post 14.37 EPS for the current year.
A number of analysts recently commented on LRCX shares. BidaskClub lowered Lam Research from a “sell” rating to a “strong sell” rating in a research report on Friday, August 31st. Zacks Investment Research lowered Lam Research from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. DA Davidson lowered their price objective on Lam Research to $225.00 in a research report on Monday, October 15th. Deutsche Bank reiterated a “hold” rating and issued a $170.00 price objective (down from $230.00) on shares of Lam Research in a research report on Monday, October 1st. Finally, Evercore ISI decreased their target price on Lam Research to $240.00 and set an “outperform” rating for the company in a research report on Tuesday, July 17th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $224.22.
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Lam Research Profile
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.
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