New Mexico Educational Retirement Board Buys 55,737 Shares of Lam Research Co. (NASDAQ:LRCX)

New Mexico Educational Retirement Board increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 871.8% during the fourth quarter, HoldingsChannel reports. The fund owned 62,130 shares of the semiconductor company’s stock after acquiring an additional 55,737 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Lam Research were worth $4,488,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Lam Research by 2,400.0% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after buying an additional 192 shares during the period. Insight Wealth Partners LLC bought a new stake in Lam Research in the 3rd quarter valued at $202,000. B&L Asset Management LLC bought a new stake in Lam Research in the 3rd quarter valued at $204,000. CWC Advisors LLC. bought a new stake in shares of Lam Research in the 3rd quarter worth about $220,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Lam Research in the 3rd quarter worth about $220,000. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX stock opened at $82.75 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The stock has a market cap of $106.22 billion, a PE ratio of 25.14, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46. The stock has a 50-day moving average of $77.35 and a 200-day moving average of $77.96. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating 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%. As a group, sell-side analysts expect that Lam Research Co. will post 3.69 earnings per share for the current year.

Lam Research Announces Dividend

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 paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.11%. Lam Research’s payout ratio is 27.95%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on LRCX shares. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Morgan Stanley upped their target price on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of Lam Research in a report on Thursday, January 30th. Wells Fargo & Company upped their target price on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and a consensus target price of $95.72.

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.