Treasurer of the State of North Carolina Has $44.69 Million Stake in Lam Research Co. (NASDAQ:LRCX)

Treasurer of the State of North Carolina boosted its stake in Lam Research Co. (NASDAQ:LRCX) by 894.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 618,759 shares of the semiconductor company’s stock after acquiring an additional 556,542 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Lam Research were worth $44,693,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Unigestion Holding SA boosted its stake in shares of Lam Research by 1,137.5% in the 3rd quarter. Unigestion Holding SA now owns 12,858 shares of the semiconductor company’s stock valued at $10,493,000 after purchasing an additional 11,819 shares during the last quarter. Pine Valley Investments Ltd Liability Co grew its stake in Lam Research by 48.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 11,464 shares of the semiconductor company’s stock valued at $9,364,000 after purchasing an additional 3,732 shares during the period. Sanctuary Advisors LLC increased its position in Lam Research by 838.7% in the third quarter. Sanctuary Advisors LLC now owns 159,913 shares of the semiconductor company’s stock worth $130,502,000 after buying an additional 142,878 shares during the last quarter. Arvest Bank Trust Division purchased a new stake in shares of Lam Research during the 3rd quarter valued at approximately $18,106,000. Finally, Wilmington Savings Fund Society FSB boosted its stake in Lam Research by 383.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,547 shares of the semiconductor company’s stock worth $3,711,000 after purchasing an additional 3,607 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $100.00 target price on shares of Lam Research in a research note on Tuesday, February 18th. Barclays dropped their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Mizuho increased their target price on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Wells Fargo & Company raised their price target 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. Finally, Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and a consensus target price of $97.59.

Lam Research Stock Performance

NASDAQ:LRCX opened at $71.11 on Thursday. The stock’s 50 day simple moving average is $77.02 and its two-hundred day simple moving average is $76.65. Lam Research Co. has a 1 year low of $56.32 and a 1 year 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 company has a market cap of $91.28 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 1.47 and a beta of 1.52.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, equities analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.29%. The ex-dividend date was Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

Lam Research Company 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.