Lam Research Co. (NASDAQ:LRCX) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 882.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,590,810 shares of the semiconductor company's stock after buying an additional 1,428,929 shares during the quarter. New York State Common Retirement Fund owned approximately 0.12% of Lam Research worth $114,904,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its stake in shares of Lam Research by 8.4% in the third quarter. Commonwealth Equity Services LLC now owns 42,489 shares of the semiconductor company's stock worth $34,675,000 after buying an additional 3,283 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Lam Research by 39.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,338 shares of the semiconductor company's stock worth $15,781,000 after acquiring an additional 5,484 shares in the last quarter. Foundations Investment Advisors LLC lifted its holdings in Lam Research by 5.6% during the third quarter. Foundations Investment Advisors LLC now owns 5,882 shares of the semiconductor company's stock valued at $4,800,000 after purchasing an additional 313 shares in the last quarter. Eastern Bank boosted its position in shares of Lam Research by 54.9% in the third quarter. Eastern Bank now owns 522 shares of the semiconductor company's stock worth $426,000 after purchasing an additional 185 shares during the period. Finally, Private Advisor Group LLC increased its stake in shares of Lam Research by 8.1% in the third quarter. Private Advisor Group LLC now owns 6,374 shares of the semiconductor company's stock worth $5,201,000 after purchasing an additional 480 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Down 3.4 %

NASDAQ:LRCX traded down $3.00 during trading hours on Friday, reaching $86.02. The company's stock had a trading volume of 12,857,061 shares, compared to its average volume of 12,447,650. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The company has a market capitalization of $110.42 billion, a P/E ratio of 26.13, a price-to-earnings-growth ratio of 1.45 and a beta of 1.46. The stock has a 50 day moving average price of $78.27 and a two-hundred day moving average price of $77.97. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Equities analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors 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 1.07%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research's dividend payout ratio is currently 27.95%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LRCX. Wolfe Research lowered shares of Lam Research from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 15th. Wells Fargo & Company increased their price target on Lam Research from $82.00 to $85.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. Mizuho raised their target price on shares of Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday. KeyCorp raised shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price target for the company in a research note on Friday, January 17th. Finally, Sanford C. Bernstein raised shares of Lam Research from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $98.22.

Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business's stock in a transaction 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 sale, 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 Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is currently owned by company insiders.

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.