Lam Research Co. (NASDAQ:LRCX) Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 863.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 273,588 shares of the semiconductor company's stock after buying an additional 245,206 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Lam Research were worth $19,761,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Strategy Asset Managers LLC acquired a new position in Lam Research in the 3rd quarter valued at $566,000. Advisors Asset Management Inc. boosted its holdings in shares of Lam Research by 3.9% in the third quarter. Advisors Asset Management Inc. now owns 3,859 shares of the semiconductor company's stock valued at $3,149,000 after acquiring an additional 144 shares in the last quarter. Cornerstone Advisors LLC increased its stake in shares of Lam Research by 29.6% during the third quarter. Cornerstone Advisors LLC now owns 9,200 shares of the semiconductor company's stock worth $7,508,000 after acquiring an additional 2,100 shares during the period. King Luther Capital Management Corp raised its holdings in Lam Research by 17.9% during the third quarter. King Luther Capital Management Corp now owns 15,345 shares of the semiconductor company's stock worth $12,523,000 after purchasing an additional 2,326 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Lam Research by 32.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 189,071 shares of the semiconductor company's stock valued at $154,297,000 after purchasing an additional 45,828 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts have issued reports on LRCX shares. Wolfe Research cut Lam Research from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 15th. The Goldman Sachs Group dropped their price objective on Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Barclays cut their price objective on 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. Oppenheimer initiated coverage on shares of Lam Research in a research report on Thursday, March 20th. They set an "outperform" rating and a $95.00 target price on the stock. Finally, Mizuho increased their price target on shares of Lam Research from $87.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Lam Research presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.06.

Insider Buying and Selling

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

Lam Research Price Performance

Shares of NASDAQ LRCX traded down $0.32 during trading on Tuesday, reaching $77.67. The company had a trading volume of 6,436,759 shares, compared to its average volume of 11,069,593. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The stock has a 50-day moving average price of $79.70 and a two-hundred day moving average price of $77.30. The stock has a market capitalization of $99.70 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results 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 net margin of 26.49% and a return on equity of 51.86%. As a group, sell-side analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Wednesday, March 5th. Lam Research's payout ratio is 27.96%.

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.