Treasurer of the State of North Carolina Acquires 556,542 Shares of Lam Research Co. (NASDAQ:LRCX)

Treasurer of the State of North Carolina lifted its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 894.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 618,759 shares of the semiconductor company's stock after buying an additional 556,542 shares during the period. Treasurer of the State of North Carolina's holdings in Lam Research were worth $44,693,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Parisi Gray Wealth Management grew its stake in shares of Lam Research by 652.9% during the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company's stock worth $603,000 after acquiring an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY acquired a new position in Lam Research during the fourth quarter worth $815,000. Centerpoint Advisors LLC grew its position in Lam Research by 900.0% in the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock valued at $72,000 after purchasing an additional 900 shares in the last quarter. Transform Wealth LLC acquired a new stake in Lam Research in the 4th quarter valued at $17,269,000. Finally, E. Ohman J or Asset Management AB bought a new stake in Lam Research during the 4th quarter worth about $4,258,000. 84.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LRCX. The Goldman Sachs Group decreased their price objective on Lam Research from $96.00 to $85.00 and set a "buy" rating for the company in a report on Friday, January 10th. Jefferies Financial Group boosted their price target on Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. Mizuho upped their price objective on Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Wolfe Research cut shares of Lam Research from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 15th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 price target on shares of Lam Research in a research report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Lam Research presently has a consensus rating of "Moderate Buy" and an average target price of $96.87.

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Lam Research Stock Performance

Shares of LRCX stock traded up $1.05 on Friday, hitting $67.48. The company's stock had a trading volume of 14,704,156 shares, compared to its average volume of 12,144,348. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The company has a market capitalization of $86.62 billion, a PE ratio of 20.50, a PEG ratio of 1.47 and a beta of 1.52. The stock's 50 day moving average is $76.49 and its 200-day moving average is $76.49. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

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

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.36%. Lam Research's dividend payout ratio (DPR) is presently 27.96%.

Insider Buying and Selling at Lam Research

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 shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the transaction, the senior vice president now directly owns 179,084 shares of the company's stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.29% of the company's stock.

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.