Public Employees Retirement System of Ohio Sells 17,213 Shares of Lam Research Corporation $LRCX

Public Employees Retirement System of Ohio reduced its position in Lam Research Corporation (NASDAQ:LRCX) by 2.9% in the 1st quarter, HoldingsChannel reports. The firm owned 585,125 shares of the semiconductor company’s stock after selling 17,213 shares during the period. Public Employees Retirement System of Ohio’s holdings in Lam Research were worth $125,018,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bayban bought a new stake in Lam Research in the fourth quarter valued at approximately $26,000. Vermillion Wealth Management Inc. bought a new position in shares of Lam Research during the 1st quarter worth approximately $26,000. Cedar Mountain Advisors LLC increased its holdings in shares of Lam Research by 242.9% during the 1st quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 85 shares during the last quarter. Mcguire Capital Advisors Inc. acquired a new position in shares of Lam Research during the 4th quarter worth approximately $27,000. Finally, Triumph Capital Management bought a new stake in Lam Research in the 3rd quarter valued at $27,000. Institutional investors own 84.61% of the company’s stock.

Key Headlines Impacting Lam Research

Here are the key news stories impacting Lam Research this week:

• Positive Sentiment: Lam Research is being highlighted as one of the semiconductor names likely to benefit from the ongoing AI infrastructure buildout, with investors continuing to favor chip equipment companies tied to advanced manufacturing. Billionaire Investor Philippe Laffont’s Top 5 Tech Picks
• Positive Sentiment: Recent coverage says Lam Research heads into its next earnings report with the ingredients for a possible beat, suggesting expectations are constructive ahead of results. Lam Research (LRCX) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Positive Sentiment: Wall Street’s generally bullish view on Lam Research is another supportive factor, with analyst sentiment implying confidence in the company’s longer-term fundamentals. Is It Worth Investing in Lam Research (LRCX) Based on Wall Street’s Bullish Views?
• Neutral Sentiment: Lam Research recently joined the AI Materials Foundry as a founding partner, reinforcing its AI relevance, but the article also notes that the stock has cooled recently after a strong run. Lam Research (LRCX) Following AI Materials Foundry Move Looks About Right
• Neutral Sentiment: Broader semiconductor optimism remains intact, with semiconductor ETFs up sharply this year and investors watching Intel’s earnings as a read-through for the group. Semiconductor ETFs Surge Ahead of Intel Earnings
• Negative Sentiment: Some market commentary points to profit-taking in technology stocks ahead of major earnings releases, which can weigh on sentiment across the semiconductor sector, including Lam Research. Nasdaq slips and Dow climbs as investors brace for big tech earnings, Super Micro surges

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Mizuho upped their price objective on shares of Lam Research from $380.00 to $400.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Cantor Fitzgerald set a $500.00 target price on shares of Lam Research and gave the stock an “overweight” rating in a research note on Monday, June 29th. Jefferies Financial Group lifted their target price on shares of Lam Research from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. New Street Research upped their price target on shares of Lam Research from $235.00 to $280.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Finally, B. Riley Financial raised their price objective on shares of Lam Research from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and an average target price of $360.51.

Lam Research Stock Up 0.2%

LRCX opened at $319.78 on Friday. The stock has a fifty day moving average of $341.33 and a 200-day moving average of $273.59. The company has a market capitalization of $399.91 billion, a P/E ratio of 60.34, a P/E/G ratio of 1.90 and a beta of 1.80. Lam Research Corporation has a fifty-two week low of $90.93 and a fifty-two week high of $438.50. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.77 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.11. Lam Research had a net margin of 30.94% and a return on equity of 66.21%. The business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period last year, the firm earned $1.04 earnings per share. Lam Research’s revenue for the quarter was up 23.8% compared to the same quarter last year. On average, equities analysts expect that Lam Research Corporation will post 5.68 EPS for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 17th were issued a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $1.04 dividend on an annualized basis and a yield of 0.3%. Lam Research’s payout ratio is currently 19.62%.

Insider Buying and Selling at Lam Research

In other news, Director Eric Brandt sold 54,500 shares of Lam Research stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $350.80, for a total value of $19,118,600.00. Following the completion of the sale, the director directly owned 199,205 shares in the company, valued at approximately $69,881,114. The trade was a 21.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Neil J. Fernandes sold 18,170 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $255.14, for a total value of $4,635,893.80. Following the completion of the sale, the senior vice president owned 66,129 shares of the company’s stock, valued at approximately $16,872,153.06. This trade represents a 21.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 104,621 shares of company stock worth $33,804,737. 0.31% of the stock is currently owned by company insiders.

About Lam Research

Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.

Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.