Strs Ohio cut its position in Lam Research Corporation (NASDAQ:LRCX) by 31.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,238 shares of the semiconductor company’s stock after selling 3,373 shares during the period. Strs Ohio’s holdings in Lam Research Corporation were worth $1,023,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Keel Point LLC boosted its position in shares of Lam Research Corporation by 0.4% in the first quarter. Keel Point LLC now owns 2,303 shares of the semiconductor company’s stock worth $296,000 after buying an additional 9 shares during the period. IFP Advisors Inc boosted 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. Cleararc Capital Inc. boosted its position in shares of Lam Research Corporation by 0.6% in the first quarter. Cleararc Capital Inc. now owns 3,998 shares of the semiconductor company’s stock worth $513,000 after buying an additional 25 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of Lam Research Corporation by 0.7% in the first quarter. Ameritas Investment Partners Inc. now owns 6,759 shares of the semiconductor company’s stock worth $868,000 after buying an additional 50 shares during the period. Finally, Stephens Inc. AR boosted 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. Hedge funds and other institutional investors own 98.98% of the company’s stock.

Shares of Lam Research Corporation (LRCX) opened at 160.21 on Wednesday. The firm’s 50-day moving average price is $154.58 and its 200-day moving average price is $140.33. The company has a market capitalization of $25.91 billion, a price-to-earnings ratio of 17.34 and a beta of 1.46. Lam Research Corporation has a 12 month low of $89.50 and a 12 month high of $170.00.

Lam Research Corporation (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 EPS for the quarter, topping 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 business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the business posted $1.80 earnings per share. The company’s quarterly revenue was up 51.6% on a year-over-year basis. Equities research analysts expect that Lam Research Corporation will post $12.71 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $1.80 annualized dividend and a dividend yield of 1.12%. Lam Research Corporation’s dividend payout ratio is currently 19.57%.

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A number of equities analysts have recently commented on the company. UBS AG reiterated a “buy” rating and issued a $158.00 target price (up previously from $144.00) on shares of Lam Research Corporation in a report on Saturday, April 22nd. B. Riley reiterated a “buy” rating and issued a $175.00 target price on shares of Lam Research Corporation in a report on Wednesday, April 19th. Deutsche Bank AG raised their price target on Lam Research Corporation from $135.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, April 19th. Finally, Cowen and Company reissued an “outperform” rating and set a $185.00 price target (up from $150.00) on shares of Lam Research Corporation in a research note on Thursday, July 27th. 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 stock. The company has an average rating of “Buy” and a consensus price target of $175.18.

In other news, COO Timothy Archer sold 8,942 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $155.51, for a total transaction of $1,390,570.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen G. Newberry sold 1,500 shares of the firm’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $162.75, for a total value of $244,125.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,656 shares of company stock valued at $7,925,366. Company insiders own 0.46% of the company’s stock.

Lam Research Corporation Company Profile

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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