Lam Research Co. (NASDAQ:LRCX) Shares Bought by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 844.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 478,257 shares of the semiconductor company’s stock after acquiring an additional 427,595 shares during the period. State of Tennessee Department of Treasury’s holdings in Lam Research were worth $34,545,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Parisi Gray Wealth Management boosted its stake in shares of Lam Research by 652.9% during the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after buying an additional 7,241 shares during the period. Burns J W & Co. Inc. NY acquired a new position in shares of Lam Research in the fourth quarter valued at approximately $815,000. Centerpoint Advisors LLC raised its stake in shares of Lam Research by 900.0% during the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 900 shares during the last quarter. Transform Wealth LLC purchased a new position in Lam Research in the 4th quarter valued at $17,269,000. Finally, E. Ohman J or Asset Management AB acquired a new position in Lam Research in the 4th quarter valued at $4,258,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

LRCX stock opened at $62.39 on Tuesday. The stock has a market capitalization of $80.09 billion, a price-to-earnings ratio of 18.95, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52. The stock’s fifty day simple moving average is $74.41 and its 200-day simple moving average is $75.76. Lam Research Co. has a 52-week low of $56.32 and a 52-week high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 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%. Equities research analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.47%. Lam Research’s payout ratio is 27.96%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LRCX. Jefferies Financial Group lifted their target price on shares of Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, March 28th. Bank of America cut their target price on Lam Research from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Stifel Nicolaus decreased their target price on shares of Lam Research from $100.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Finally, Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus price target of $93.87.

Insider Activity at Lam Research

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

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.