California State Teachers Retirement System Boosts Stake in Lam Research Co. (NASDAQ:LRCX)

California State Teachers Retirement System grew its position in Lam Research Co. (NASDAQ:LRCX) by 871.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,064,912 shares of the semiconductor company’s stock after buying an additional 1,852,340 shares during the period. California State Teachers Retirement System’s holdings in Lam Research were worth $149,149,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fairway Wealth LLC lifted its holdings in Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after buying an additional 306 shares in the last quarter. Financial Perspectives Inc increased its stake in Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 309 shares during the period. Atwood & Palmer Inc. purchased a new position in shares of Lam Research during the 4th quarter worth approximately $27,000. Midwest Capital Advisors LLC acquired a new stake in shares of Lam Research in the fourth quarter valued at about $27,000. Finally, Bell Investment Advisors Inc boosted its position in Lam Research by 836.6% during the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 343 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on LRCX. Barclays decreased their price objective on Lam Research from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Evercore ISI upped their price target on Lam Research from $95.00 to $99.00 and gave the company an “outperform” rating in a research report on Thursday. Jefferies Financial Group lifted their price target on Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, March 28th. Stifel Nicolaus cut their price objective on Lam Research from $100.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Finally, TD Cowen decreased their price target on Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $92.70.

Lam Research Stock Up 0.7 %

Lam Research stock opened at $71.42 on Monday. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The firm has a market cap of $91.68 billion, a price-to-earnings ratio of 21.70, a P/E/G ratio of 1.47 and a beta of 1.52. The firm has a fifty day moving average price of $73.15 and a two-hundred day moving average price of $75.38.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. As a group, analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were issued a $0.23 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.29%. Lam Research’s payout ratio is presently 25.63%.

Insider Buying and Selling

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by corporate insiders.

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.