California Public Employees Retirement System boosted its stake in Lam Research Co. (NASDAQ:LRCX) by 4.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 431,617 shares of the semiconductor company’s stock after buying an additional 19,446 shares during the period. California Public Employees Retirement System’s holdings in Lam Research were worth $79,448,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Teacher Retirement System of Texas grew its stake in Lam Research by 2.0% in the 4th quarter. Teacher Retirement System of Texas now owns 206,126 shares of the semiconductor company’s stock valued at $37,942,000 after buying an additional 4,020 shares during the last quarter. AE Wealth Management LLC bought a new stake in Lam Research in the 4th quarter valued at about $269,000. Retirement Income Solutions Inc bought a new stake in Lam Research in the 4th quarter valued at about $323,000. BT Investment Management Ltd boosted its holdings in Lam Research by 410.7% in the 4th quarter. BT Investment Management Ltd now owns 74,802 shares of the semiconductor company’s stock valued at $13,769,000 after purchasing an additional 60,154 shares during the period. Finally, Emerald Advisers Inc. PA bought a new stake in Lam Research in the 4th quarter valued at about $489,000. Institutional investors and hedge funds own 92.92% of the company’s stock.

Lam Research Co. (NASDAQ:LRCX) opened at $165.87 on Monday. The stock has a market cap of $26,860.00, a P/E ratio of 18.27, a P/E/G ratio of 0.67 and a beta of 1.47. Lam Research Co. has a 12-month low of $113.20 and a 12-month high of $219.70. The company has a current ratio of 2.47, a quick ratio of 2.09 and a debt-to-equity ratio of 0.29.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.68 by $0.66. The business had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Lam Research had a net margin of 17.60% and a return on equity of 36.08%. The firm’s quarterly revenue was up 37.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.24 EPS. analysts anticipate that Lam Research Co. will post 16.74 earnings per share for the current year.

Lam Research declared that its Board of Directors has initiated a stock buyback plan on Tuesday, November 14th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the semiconductor company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 7th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Tuesday, March 6th. Lam Research’s dividend payout ratio is 22.03%.

In related news, VP Patrick J. Lord sold 264 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $216.08, for a total transaction of $57,045.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Seshasayee Varadarajan sold 25,453 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $215.00, for a total transaction of $5,472,395.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,722 shares of company stock valued at $12,088,028. 0.41% of the stock is owned by corporate insiders.

A number of research firms have issued reports on LRCX. KeyCorp reissued a “buy” rating and issued a $225.00 price objective on shares of Lam Research in a report on Sunday, November 19th. Argus boosted their price objective on shares of Lam Research from $196.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, October 19th. Needham & Company LLC reissued a “buy” rating and issued a $270.00 price objective (up previously from $235.00) on shares of Lam Research in a report on Thursday, January 25th. Vetr downgraded shares of Lam Research from a “buy” rating to a “hold” rating and set a $218.49 price objective for the company. in a report on Tuesday, January 23rd. Finally, Stifel Nicolaus boosted their price objective on shares of Lam Research from $235.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Two investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $232.41.

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Lam Research Company Profile

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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