State of Tennessee Department of Treasury Grows Stock Position in Lam Research Co. (NASDAQ:LRCX)

State of Tennessee Department of Treasury increased its position in Lam Research Co. (NASDAQ:LRCX) by 844.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 478,257 shares of the semiconductor company’s stock after purchasing an additional 427,595 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Lam Research were worth $34,545,000 as of its most recent filing with the Securities and Exchange Commission.

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

Lam Research Trading Down 2.1 %

Shares of LRCX stock opened at $62.39 on Tuesday. Lam Research Co. has a 1 year low of $56.32 and a 1 year high of $113.00. The firm has a market capitalization of $80.09 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52. The stock has a fifty day moving average of $74.41 and a two-hundred day moving average of $75.76. 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) last released its 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 net margin of 26.49% and a return on equity of 51.86%. As a group, research analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LRCX. Bank of America lowered their price objective on Lam Research from $110.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and raised their price objective for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Wells Fargo & Company boosted their target price on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. UBS Group dropped their target price on shares of Lam Research from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, 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 report on Friday, January 17th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.87.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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.