68,898 Shares in Lam Research Co. (NASDAQ:LRCX) Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System bought a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 68,898 shares of the semiconductor company's stock, valued at approximately $4,977,000.

Other large investors have also made changes to their positions in the company. Xponance Inc. lifted its holdings in Lam Research by 918.3% in the fourth quarter. Xponance Inc. now owns 322,972 shares of the semiconductor company's stock valued at $23,328,000 after buying an additional 291,254 shares during the period. Generali Asset Management SPA SGR acquired a new position in shares of Lam Research in the 4th quarter valued at $11,802,000. Horizon Investments LLC boosted its position in shares of Lam Research by 577.6% in the 4th quarter. Horizon Investments LLC now owns 23,141 shares of the semiconductor company's stock worth $1,671,000 after purchasing an additional 19,726 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Lam Research by 1,099.9% during the fourth quarter. Advisors Asset Management Inc. now owns 46,304 shares of the semiconductor company's stock worth $3,345,000 after purchasing an additional 42,445 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in Lam Research by 273.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 97,121 shares of the semiconductor company's stock valued at $7,202,000 after purchasing an additional 71,144 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

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Lam Research Stock Up 2.8 %

Shares of Lam Research stock traded up $2.15 during trading hours on Monday, reaching $77.99. 7,951,352 shares of the company's stock were exchanged, compared to its average volume of 11,071,076. The stock has a market cap of $100.11 billion, a P/E ratio of 23.69, a P/E/G ratio of 1.47 and a beta of 1.53. The company has a 50 day moving average of $79.62 and a two-hundred day moving average of $77.29. 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 fifty-two week low of $68.87 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS 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%. On average, sell-side analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LRCX. Sanford C. Bernstein upgraded Lam Research from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. 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 note 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 note on Friday, January 17th. Needham & Company LLC reissued a "buy" rating and set a $90.00 price target on shares of Lam Research in a research report on Thursday, January 30th. Finally, Barclays lowered 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. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $98.06.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company's stock in a transaction that occurred on 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 owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.29% of the company's stock.

Lam Research Company 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.