Retirement Systems of Alabama lessened its holdings in Lam Research Co. (NASDAQ:LRCX) by 5.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,668 shares of the semiconductor company’s stock after selling 4,344 shares during the quarter. Retirement Systems of Alabama’s holdings in Lam Research were worth $11,024,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Valeo Financial Advisors LLC bought a new stake in Lam Research in the 2nd quarter valued at $402,000. Signet Financial Management LLC increased its holdings in Lam Research by 21,700.0% in the 2nd quarter. Signet Financial Management LLC now owns 654 shares of the semiconductor company’s stock valued at $113,000 after buying an additional 651 shares during the period. Morgan Stanley grew its holdings in shares of Lam Research by 83.1% in the 2nd quarter. Morgan Stanley now owns 1,530,120 shares of the semiconductor company’s stock worth $264,481,000 after purchasing an additional 694,440 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Lam Research by 7.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 21,894 shares of the semiconductor company’s stock worth $3,784,000 after purchasing an additional 1,528 shares during the last quarter. Finally, Baird Financial Group Inc. grew its holdings in shares of Lam Research by 50.5% in the 2nd quarter. Baird Financial Group Inc. now owns 6,880 shares of the semiconductor company’s stock worth $1,189,000 after purchasing an additional 2,308 shares during the last quarter. 91.85% of the stock is currently owned by hedge funds and other institutional investors.
LRCX has been the topic of several analyst reports. DA Davidson lowered their target price on shares of Lam Research to $225.00 in a report on Monday, October 15th. Stifel Nicolaus lowered their target price on shares of Lam Research from $295.00 to $279.00 and set a “buy” rating on the stock in a report on Friday, July 27th. Citigroup lowered their target price on shares of Lam Research from $239.00 to $216.00 and set a “buy” rating on the stock in a report on Monday, July 30th. B. Riley upped their target price on shares of Lam Research to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 17th. Finally, BidaskClub raised shares of Lam Research from a “sell” rating to a “hold” rating in a report on Thursday, July 19th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Lam Research currently has a consensus rating of “Buy” and a consensus target price of $224.22.
Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Tuesday, October 16th. The semiconductor company reported $3.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.22 by $0.14. The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.31 billion. Lam Research had a net margin of 21.26% and a return on equity of 49.80%. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.46 EPS. On average, sell-side analysts forecast that Lam Research Co. will post 14.37 earnings per share for the current fiscal year.
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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