State of Alaska Department of Revenue Has $10.59 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

State of Alaska Department of Revenue boosted its position in Lam Research Co. (NASDAQ:LRCX) by 661.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 146,675 shares of the semiconductor company’s stock after buying an additional 127,408 shares during the quarter. State of Alaska Department of Revenue’s holdings in Lam Research were worth $10,594,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp grew its position in shares of Lam Research by 1,394.7% in the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after purchasing an additional 15,005,178 shares during the last quarter. State Street Corp boosted its stake in Lam Research by 1.6% during the 3rd quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock valued at $4,817,113,000 after purchasing an additional 94,086 shares during the period. Geode Capital Management LLC grew its holdings in Lam Research by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock valued at $2,539,413,000 after buying an additional 64,053 shares during the last quarter. Swedbank AB increased its position in Lam Research by 1,488.8% in the 4th quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock worth $221,674,000 after buying an additional 2,875,843 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Lam Research during the fourth quarter worth approximately $175,652,000. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

LRCX has been the topic of several research analyst reports. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research note on Friday, January 17th. Cantor Fitzgerald upgraded Lam Research from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $95.00 to $100.00 in a research note on Thursday, January 30th. Finally, B. Riley decreased their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.72.

Lam Research Price Performance

Lam Research stock opened at $82.83 on Friday. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The firm has a market cap of $106.58 billion, a P/E ratio of 25.16, a P/E/G ratio of 1.34 and a beta of 1.46. 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 business’s fifty day moving average is $76.53 and its two-hundred day moving average is $78.26.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Equities research 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. Investors of record on Wednesday, March 5th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.11%. Lam Research’s dividend payout ratio (DPR) is presently 27.95%.

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.