State of Michigan Retirement System Decreases Stock Holdings in Lam Research Corporation $LRCX

State of Michigan Retirement System lowered its holdings in Lam Research Corporation (NASDAQ:LRCX) by 0.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 361,600 shares of the semiconductor company’s stock after selling 2,600 shares during the period. State of Michigan Retirement System’s holdings in Lam Research were worth $77,259,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. State Street Corp boosted its position in Lam Research by 0.4% during the 3rd quarter. State Street Corp now owns 59,817,352 shares of the semiconductor company’s stock worth $8,024,684,000 after purchasing an additional 265,805 shares during the period. Geode Capital Management LLC increased its holdings in Lam Research by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 33,747,368 shares of the semiconductor company’s stock valued at $5,764,117,000 after purchasing an additional 126,613 shares in the last quarter. Invesco Ltd. raised its position in Lam Research by 7.7% in the fourth quarter. Invesco Ltd. now owns 22,821,354 shares of the semiconductor company’s stock valued at $3,906,559,000 after purchasing an additional 1,638,406 shares during the period. Norges Bank purchased a new position in Lam Research in the fourth quarter valued at about $3,645,427,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Lam Research by 352.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,695,210 shares of the semiconductor company’s stock worth $2,344,347,000 after purchasing an additional 10,666,540 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

LRCX stock opened at $329.92 on Tuesday. The stock’s 50 day moving average is $336.33 and its two-hundred day moving average is $265.32. Lam Research Corporation has a 52-week low of $90.93 and a 52-week high of $438.50. The company has a market capitalization of $412.59 billion, a PE ratio of 62.25, a P/E/G ratio of 2.07 and a beta of 1.80. The company has a quick ratio of 1.77, a current ratio of 2.54 and a debt-to-equity ratio of 0.35.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.36 by $0.11. The company had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Lam Research had a return on equity of 66.21% and a net margin of 30.94%.The business’s revenue was up 23.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.04 EPS. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. Analysts predict that Lam Research Corporation will post 5.68 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Wednesday, June 17th were given a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.3%. Lam Research’s payout ratio is presently 19.62%.

Insider Activity

In other Lam Research news, SVP Neil J. Fernandes sold 7,659 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $309.60, for a total transaction of $2,371,226.40. Following the transaction, the senior vice president owned 58,470 shares of the company’s stock, valued at $18,102,312. This trade represents a 11.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ava Harter sold 6,010 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $258.66, for a total value of $1,554,546.60. Following the completion of the sale, the insider owned 53,205 shares of the company’s stock, valued at $13,762,005.30. This trade represents a 10.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 86,339 shares of company stock worth $27,680,267. 0.31% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

LRCX has been the subject of a number of recent research reports. Evercore increased their target price on Lam Research from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Sanford C. Bernstein boosted their price target on Lam Research from $325.00 to $340.00 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. Wall Street Zen cut Lam Research from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Weiss Ratings lowered shares of Lam Research from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 14th. Finally, UBS Group reissued a “buy” rating and set a $375.00 target price (up from $310.00) on shares of Lam Research in a research report on Tuesday, June 9th. Twenty-eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $350.81.

Lam Research Profile

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.