New Mexico Educational Retirement Board decreased its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 9.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,993 shares of the semiconductor company’s stock after selling 1,500 shares during the period. New Mexico Educational Retirement Board’s holdings in Lam Research Corporation were worth $2,391,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in LRCX. IFP Advisors Inc increased its position in shares of Lam Research Corporation by 2.7% in the first quarter. IFP Advisors Inc now owns 850 shares of the semiconductor company’s stock worth $109,000 after buying an additional 22 shares during the period. Stephens Inc. AR increased its position in shares of Lam Research Corporation by 6.8% in the first quarter. Stephens Inc. AR now owns 849 shares of the semiconductor company’s stock worth $109,000 after buying an additional 54 shares during the period. Huntington National Bank increased its position in shares of Lam Research Corporation by 82.1% in the first quarter. Huntington National Bank now owns 1,118 shares of the semiconductor company’s stock worth $144,000 after buying an additional 504 shares during the period. Quadrant Capital Group LLC increased its position in shares of Lam Research Corporation by 0.3% in the first quarter. Quadrant Capital Group LLC now owns 1,332 shares of the semiconductor company’s stock worth $168,000 after buying an additional 4 shares during the period. Finally, Financial Architects Inc increased its position in shares of Lam Research Corporation by 1,164.8% in the second quarter. Financial Architects Inc now owns 1,366 shares of the semiconductor company’s stock worth $193,000 after buying an additional 1,258 shares during the period. Institutional investors and hedge funds own 98.98% of the company’s stock.

Shares of Lam Research Corporation (NASDAQ LRCX) opened at 155.20 on Thursday. Lam Research Corporation has a one year low of $88.51 and a one year high of $170.00. The stock’s 50 day moving average price is $153.99 and its 200 day moving average price is $138.99. The stock has a market capitalization of $25.10 billion, a PE ratio of 16.80 and a beta of 1.46.

Lam Research Corporation (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 EPS for the quarter, beating the consensus estimate of $3.02 by $0.09. Lam Research Corporation had a return on equity of 26.95% and a net margin of 21.19%. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the company earned $1.80 earnings per share. Lam Research Corporation’s quarterly revenue was up 51.6% compared to the same quarter last year. Equities research analysts predict that Lam Research Corporation will post $12.71 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.16%. The ex-dividend date is Tuesday, September 12th. Lam Research Corporation’s payout ratio is currently 19.57%.

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A number of brokerages recently issued reports on LRCX. B. Riley reiterated a “buy” rating and set a $220.00 price objective on shares of Lam Research Corporation in a research note on Thursday. ValuEngine upgraded Lam Research Corporation from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 3rd. Citigroup Inc. downgraded Lam Research Corporation from a “buy” rating to a “neutral” rating and cut their price objective for the company from $200.00 to $175.00 in a research note on Thursday, August 3rd. BidaskClub downgraded Lam Research Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Berenberg Bank reiterated a “buy” rating on shares of Lam Research Corporation in a research note on Sunday, July 30th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $172.41.

In other news, Director Stephen G. Newberry sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $162.75, for a total value of $244,125.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Patrick J. Lord sold 2,770 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $155.35, for a total value of $430,319.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,656 shares of company stock worth $7,925,366. Company insiders own 0.46% of the company’s stock.

About Lam Research Corporation

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.

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

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