Utah Retirement Systems Purchases 191,583 Shares of Lam Research Co. (NASDAQ:LRCX)

Utah Retirement Systems grew its position in Lam Research Co. (NASDAQ:LRCX) by 887.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 213,170 shares of the semiconductor company’s stock after purchasing an additional 191,583 shares during the quarter. Utah Retirement Systems’ holdings in Lam Research were worth $15,397,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. West Oak Capital LLC raised its position in Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 135 shares during the last quarter. Diversified Trust Co increased its stake in shares of Lam Research by 8.3% during the fourth quarter. Diversified Trust Co now owns 3,741 shares of the semiconductor company’s stock valued at $270,000 after buying an additional 286 shares during the period. McLean Asset Management Corp raised its holdings in shares of Lam Research by 6.3% during the fourth quarter. McLean Asset Management Corp now owns 5,122 shares of the semiconductor company’s stock valued at $370,000 after acquiring an additional 302 shares in the last quarter. Fairway Wealth LLC raised its holdings in shares of Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 306 shares in the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC raised its holdings in shares of Lam Research by 159.1% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 307 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Down 0.9 %

LRCX stock opened at $70.90 on Wednesday. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The business’s 50-day moving average is $72.46 and its two-hundred day moving average is $75.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The company has a market cap of $91.01 billion, a price-to-earnings ratio of 21.54, a P/E/G ratio of 1.47 and a beta of 1.52.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS 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 firm had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter last year, the company earned $7.79 earnings per share. The business’s revenue for the quarter was up 24.4% compared to the same quarter last year. As a group, analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is currently 25.63%.

Insider Activity at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction that occurred on 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 completion of the sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LRCX shares. TD Cowen decreased their target price on Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Wells Fargo & Company decreased their target price on Lam Research from $85.00 to $75.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and upped their target price for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Finally, Barclays reduced their price target 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. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.56.

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.