Teacher Retirement System of Texas decreased its holdings in Lam Research Co. (NASDAQ:LRCX) by 4.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 197,990 shares of the semiconductor company’s stock after selling 8,522 shares during the quarter. Teacher Retirement System of Texas owned 0.13% of Lam Research worth $37,190,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LRCX. Zions Bancorporation N.A. purchased a new position in Lam Research during the first quarter valued at approximately $28,000. Valeo Financial Advisors LLC lifted its holdings in Lam Research by 287.7% during the second quarter. Valeo Financial Advisors LLC now owns 663 shares of the semiconductor company’s stock valued at $125,000 after purchasing an additional 492 shares in the last quarter. TCW Group Inc. lifted its holdings in Lam Research by 16.8% during the first quarter. TCW Group Inc. now owns 128,920 shares of the semiconductor company’s stock valued at $23,078,000 after purchasing an additional 18,539 shares in the last quarter. Parametric Portfolio Associates LLC lifted its holdings in Lam Research by 20.5% during the first quarter. Parametric Portfolio Associates LLC now owns 634,194 shares of the semiconductor company’s stock valued at $113,527,000 after purchasing an additional 108,066 shares in the last quarter. Finally, Altman Advisors Inc. lifted its holdings in Lam Research by 1.7% during the second quarter. Altman Advisors Inc. now owns 6,581 shares of the semiconductor company’s stock valued at $1,236,000 after purchasing an additional 112 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors.

LRCX traded up $1.09 during trading hours on Wednesday, hitting $207.85. The company’s stock had a trading volume of 41,403 shares, compared to its average volume of 1,970,018. The business’s 50-day moving average price is $198.32 and its 200-day moving average price is $188.22. Lam Research Co. has a 12 month low of $122.64 and a 12 month high of $218.49. The stock has a market cap of $31.00 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 1.26 and a beta of 1.61. The company has a current ratio of 3.61, a quick ratio of 2.96 and a debt-to-equity ratio of 0.82.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $3.62 earnings per share for the quarter, topping the consensus estimate of $3.40 by $0.22. Lam Research had a net margin of 22.70% and a return on equity of 43.82%. The company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter in the previous year, the business posted $5.31 earnings per share. Lam Research’s quarterly revenue was down 24.5% on a year-over-year basis. On average, analysts forecast that Lam Research Co. will post 13.57 earnings per share for the current year.

In other Lam Research news, insider Kevin Jennings sold 1,122 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $210.07, for a total transaction of $235,698.54. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Abhijit Y. Talwalkar sold 3,987 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $210.00, for a total transaction of $837,270.00. The disclosure for this sale can be found here. Insiders sold 25,109 shares of company stock worth $5,072,969 in the last 90 days. 0.44% of the stock is currently owned by company insiders.

Several brokerages have weighed in on LRCX. Mizuho reaffirmed a “hold” rating on shares of Lam Research in a report on Thursday, April 25th. Wells Fargo & Co lifted their price target on shares of Lam Research from $195.00 to $200.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $220.00 price target on shares of Lam Research in a report on Monday, August 5th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Lam Research in a report on Wednesday, August 7th. Finally, Cowen reaffirmed an “outperform” rating and set a $235.00 price target (up previously from $223.00) on shares of Lam Research in a report on Thursday, April 25th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $224.69.

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

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