New York State Common Retirement Fund Raises Stake in Lam Research Co. (NASDAQ:LRCX)

New York State Common Retirement Fund lifted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 882.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,590,810 shares of the semiconductor company’s stock after purchasing an additional 1,428,929 shares during the quarter. New York State Common Retirement Fund’s holdings in Lam Research were worth $114,904,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Parisi Gray Wealth Management boosted its holdings in Lam Research by 652.9% in 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 during the period. Burns J W & Co. Inc. NY purchased a new position in Lam Research in the 4th quarter worth approximately $815,000. Centerpoint Advisors LLC boosted its holdings in Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after acquiring an additional 900 shares during the period. Jennison Associates LLC boosted its holdings in Lam Research by 20.0% in the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after acquiring an additional 39,725 shares during the period. Finally, Worldquant Millennium Advisors LLC boosted its holdings in Lam Research by 51.9% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after acquiring an additional 73,648 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

LRCX stock opened at $86.52 on Wednesday. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The stock’s 50 day simple moving average is $77.81 and its 200 day simple moving average is $77.82. The firm has a market cap of $111.06 billion, a P/E ratio of 26.28, a P/E/G ratio of 1.36 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping the consensus estimate 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, equities research analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.06%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is presently 27.95%.

Analyst Ratings Changes

A number of research firms have weighed in on LRCX. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Morgan Stanley upped their price target on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 target price on shares of Lam Research in a research note on Tuesday. Finally, The Goldman Sachs Group reduced their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $95.72.

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.