State of Tennessee Department of Treasury Acquires 427,595 Shares of Lam Research Co. (NASDAQ:LRCX)

State of Tennessee Department of Treasury grew its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 844.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 478,257 shares of the semiconductor company's stock after purchasing 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 quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. West Oak Capital LLC increased its stake in Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company's stock worth $29,000 after acquiring an additional 135 shares during the last quarter. Diversified Trust Co grew its holdings in shares of Lam Research by 8.3% during the fourth quarter. Diversified Trust Co now owns 3,741 shares of the semiconductor company's stock worth $270,000 after purchasing an additional 286 shares in the last quarter. McLean Asset Management Corp increased its position in shares of Lam Research by 6.3% in the fourth quarter. McLean Asset Management Corp now owns 5,122 shares of the semiconductor company's stock worth $370,000 after purchasing an additional 302 shares during the last quarter. Fairway Wealth LLC lifted its position in Lam Research by 900.0% during the fourth 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 last quarter. Finally, Householder Group Estate & Retirement Specialist LLC grew its stake in Lam Research by 159.1% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company's stock worth $36,000 after buying an additional 307 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Insider Transactions at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the transaction, the senior vice president now owns 179,084 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Lam Research from $81.00 to $82.00 and gave the company an "equal weight" rating in a research report on Thursday. Bank of America lowered their price target on Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Evercore ISI upped their price objective on Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a report on Thursday. TD Cowen decreased their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Wolfe Research lowered Lam Research from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.80.

Lam Research Trading Up 0.7 %

Shares of LRCX traded up $0.52 during mid-day trading on Friday, hitting $71.42. 9,749,642 shares of the company's stock traded hands, compared to its average volume of 12,141,859. 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 firm has a market capitalization of $91.68 billion, a P/E ratio of 21.70, a PEG ratio of 1.47 and a beta of 1.52. The business's 50-day moving average price is $73.45 and its 200-day moving average price is $75.55. Lam Research Co. has a 1 year low of $56.32 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. The business had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, sell-side analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.23 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.29%. Lam Research's dividend payout ratio (DPR) is 27.96%.

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.