State of Michigan Retirement System Acquires 339,320 Shares of Lam Research Co. (NASDAQ:LRCX)

State of Michigan Retirement System increased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 891.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 377,400 shares of the semiconductor company’s stock after acquiring an additional 339,320 shares during the period. State of Michigan Retirement System’s holdings in Lam Research were worth $27,260,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. NJ State Employees Deferred Compensation Plan increased its holdings in Lam Research by 900.0% during the 4th quarter. NJ State Employees Deferred Compensation Plan now owns 63,250 shares of the semiconductor company’s stock worth $4,569,000 after acquiring an additional 56,925 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in Lam Research by 1,580.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 63,078 shares of the semiconductor company’s stock worth $4,556,000 after acquiring an additional 59,325 shares during the period. Schechter Investment Advisors LLC increased its holdings in Lam Research by 799.1% during the 4th quarter. Schechter Investment Advisors LLC now owns 10,277 shares of the semiconductor company’s stock worth $742,000 after acquiring an additional 9,134 shares during the period. Meridian Wealth Management LLC increased its holdings in Lam Research by 907.6% during the 4th quarter. Meridian Wealth Management LLC now owns 9,602 shares of the semiconductor company’s stock worth $694,000 after acquiring an additional 8,649 shares during the period. Finally, Silver Coast Investments LLC increased its holdings in Lam Research by 1,151.1% during the 4th quarter. Silver Coast Investments LLC now owns 5,730 shares of the semiconductor company’s stock worth $414,000 after acquiring an additional 5,272 shares during the period. Institutional investors own 84.61% of the company’s stock.

Lam Research Trading Down 1.3 %

Shares of LRCX opened at $75.78 on Tuesday. The stock has a market capitalization of $97.28 billion, a P/E ratio of 23.02, a PEG ratio of 1.47 and a beta of 1.46. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The firm has a fifty day simple moving average of $78.98 and a two-hundred day simple moving average of $77.96. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, research analysts anticipate that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.21%. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and upped their target price for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a research note on Tuesday, February 18th. Mizuho boosted their price target on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Finally, Barclays cut their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $98.22.

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.