State of New Jersey Common Pension Fund D Boosts Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

State of New Jersey Common Pension Fund D grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 892.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 477,221 shares of the semiconductor company’s stock after acquiring an additional 429,150 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Lam Research were worth $34,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Parisi Gray Wealth Management boosted its holdings in Lam Research by 652.9% during the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after acquiring an additional 7,241 shares during the last quarter. Burns J W & Co. Inc. NY purchased a new position in Lam Research during the 4th quarter worth $815,000. Jennison Associates LLC boosted its holdings in Lam Research by 20.0% during the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after acquiring an additional 39,725 shares during the last quarter. Creative Planning boosted its holdings in Lam Research by 2.5% during the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after acquiring an additional 1,146 shares during the last quarter. Finally, Vest Financial LLC raised its stake in shares of Lam Research by 68.7% during the 3rd quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after purchasing an additional 14,658 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LRCX. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 target price (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Lam Research in a research note on Thursday, January 30th. BNP Paribas upgraded Lam Research to a “hold” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company lifted their target price on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.72.

Lam Research Stock Down 0.7 %

Shares of LRCX opened at $82.75 on Monday. The firm has a market cap of $106.22 billion, a P/E ratio of 25.14, a P/E/G ratio of 1.37 and a beta of 1.46. The stock has a 50 day simple moving average of $77.48 and a two-hundred day simple moving average of $77.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. On average, analysts forecast that Lam Research Co. will post 3.69 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.95%.

Lam Research Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.