Retirement Systems of Alabama grew its stake in Lam Research Corporation (NASDAQ:LRCX) by 0.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,815 shares of the semiconductor company’s stock after purchasing an additional 602 shares during the period. Retirement Systems of Alabama’s holdings in Lam Research Corporation were worth $14,584,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Lam Research Corporation by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 16,162,079 shares of the semiconductor company’s stock valued at $2,285,802,000 after purchasing an additional 411,951 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Lam Research Corporation by 23,238.8% in the 2nd quarter. Janus Henderson Group PLC now owns 4,742,669 shares of the semiconductor company’s stock valued at $670,756,000 after purchasing an additional 4,722,348 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Lam Research Corporation by 7.8% in the 2nd quarter. American Century Companies Inc. now owns 1,950,620 shares of the semiconductor company’s stock valued at $275,876,000 after purchasing an additional 141,444 shares in the last quarter. Harbour Capital Advisors LLC boosted its stake in shares of Lam Research Corporation by 13,054.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,890,919 shares of the semiconductor company’s stock valued at $13,370,000 after purchasing an additional 1,876,544 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Lam Research Corporation by 9.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 977,791 shares of the semiconductor company’s stock valued at $138,289,000 after purchasing an additional 84,912 shares in the last quarter. Institutional investors own 93.05% of the company’s stock.

Shares of Lam Research Corporation (LRCX) opened at $210.34 on Thursday. Lam Research Corporation has a 52 week low of $97.79 and a 52 week high of $211.41. The company has a market capitalization of $33,660.00, a price-to-earnings ratio of 17.97, a P/E/G ratio of 0.97 and a beta of 1.63. The company has a quick ratio of 2.83, a current ratio of 3.31 and a debt-to-equity ratio of 0.24.

Lam Research Corporation (NASDAQ:LRCX) last announced its quarterly earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. Lam Research Corporation had a return on equity of 30.19% and a net margin of 22.85%. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the firm posted $1.81 earnings per share. The firm’s revenue was up 51.8% on a year-over-year basis. analysts expect that Lam Research Corporation will post 14.45 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Wednesday, December 6th will be paid a $0.50 dividend. This is a positive change from Lam Research Corporation’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $2.00 dividend on an annualized basis and a yield of 0.95%. Lam Research Corporation’s dividend payout ratio (DPR) is presently 16.44%.

Lam Research Corporation declared that its board has initiated a share repurchase program on Tuesday, November 14th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

In other Lam Research Corporation news, COO Timothy Archer sold 11,590 shares of the stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $181.76, for a total value of $2,106,598.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen G. Newberry sold 750 shares of the stock in a transaction on Friday, October 13th. The stock was sold at an average price of $190.00, for a total value of $142,500.00. The disclosure for this sale can be found here. Insiders sold 40,419 shares of company stock valued at $7,167,497 in the last ninety days. 0.41% of the stock is currently owned by insiders.

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LRCX has been the topic of a number of research analyst reports. Credit Suisse Group restated a “buy” rating on shares of Lam Research Corporation in a research note on Tuesday, August 29th. DA Davidson restated a “buy” rating and issued a $175.00 price target on shares of Lam Research Corporation in a research note on Wednesday, July 26th. Argus began coverage on shares of Lam Research Corporation in a research note on Tuesday, September 12th. They issued a “buy” rating and a $196.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $200.00 target price on shares of Lam Research Corporation in a research report on Friday, September 1st. Finally, KeyCorp reiterated an “outperform” rating and set a $202.00 target price on shares of Lam Research Corporation in a research report on Saturday, September 16th. Five investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Lam Research Corporation presently has a consensus rating of “Buy” and an average target price of $212.89.

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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