Lam Research Co. (NASDAQ:LRCX) Stock Position Boosted by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board boosted its stake in Lam Research Co. (NASDAQ:LRCX) by 871.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,130 shares of the semiconductor company’s stock after buying an additional 55,737 shares during the period. New Mexico Educational Retirement Board’s holdings in Lam Research were worth $4,488,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Valeo Financial Advisors LLC bought a new position in shares of Lam Research during the 4th quarter valued at about $1,313,000. DeDora Capital Inc. boosted its position in shares of Lam Research by 843.4% during the 4th quarter. DeDora Capital Inc. now owns 5,415 shares of the semiconductor company’s stock valued at $391,000 after purchasing an additional 4,841 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Lam Research by 415.9% during the 4th quarter. Blue Trust Inc. now owns 14,951 shares of the semiconductor company’s stock valued at $1,080,000 after purchasing an additional 12,053 shares in the last quarter. New York State Teachers Retirement System boosted its position in shares of Lam Research by 829.6% during the 4th quarter. New York State Teachers Retirement System now owns 1,023,768 shares of the semiconductor company’s stock valued at $73,947,000 after purchasing an additional 913,638 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC bought a new position in shares of Lam Research during the 4th quarter valued at about $49,382,000. Institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

NASDAQ LRCX opened at $82.75 on Friday. 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 stock has a market capitalization of $106.22 billion, a PE ratio of 25.14, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46. The company has a 50 day moving average price of $77.35 and a two-hundred day moving average price of $77.96. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts predict that Lam Research Co. will post 3.69 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is 27.95%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LRCX. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research report on Friday, January 17th. Barclays reduced their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Mizuho decreased their target price on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Finally, The Goldman Sachs Group decreased their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.72.

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.