California Public Employees Retirement System Has $154.75 Million Stake in Lam Research Co. (NASDAQ:LRCX)

California Public Employees Retirement System lifted its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 833.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,142,455 shares of the semiconductor company's stock after purchasing an additional 1,913,023 shares during the quarter. California Public Employees Retirement System owned 0.17% of Lam Research worth $154,750,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. B&L Asset Management LLC bought a new stake in Lam Research during the third quarter worth about $204,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Lam Research in the 3rd quarter valued at approximately $220,000. Virtus Investment Advisers Inc. bought a new position in shares of Lam Research in the third quarter valued at $245,000. Fairway Wealth LLC raised its holdings in shares of Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 306 shares during the period. Finally, Financial Perspectives Inc raised its stake in Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after buying an additional 309 shares during the period. Institutional investors own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Lam Research from $82.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 30th. KeyCorp raised 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 report on Friday, January 17th. Wolfe Research cut shares of Lam Research from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 15th. Susquehanna raised shares of Lam Research from a "neutral" rating to a "positive" rating and raised their target price for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Finally, Morgan Stanley boosted their price target on Lam Research from $76.00 to $78.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. Six 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.com, Lam Research currently has a consensus rating of "Moderate Buy" and an average target price of $97.59.

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Lam Research Price Performance

LRCX stock traded down $7.61 during trading on Thursday, reaching $66.17. 9,452,035 shares of the company were exchanged, compared to its average volume of 11,705,217. The company has a market capitalization of $84.94 billion, a price-to-earnings ratio of 20.07, a P/E/G ratio of 1.47 and a beta of 1.53. 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 50-day moving average of $78.99 and a two-hundred day moving average of $77.28. Lam Research Co. has a twelve month low of $65.92 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating 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 predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.39%. Lam Research's dividend payout ratio (DPR) is presently 27.96%.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction dated 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 completion of the sale, the senior vice president now owns 179,084 shares of the company's stock, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.29% of the company's stock.

About Lam Research

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.