Lam Research Co. (NASDAQ:LRCX) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its stake in Lam Research Co. (NASDAQ:LRCX) by 661.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 146,675 shares of the semiconductor company’s stock after acquiring an additional 127,408 shares during the period. State of Alaska Department of Revenue’s holdings in Lam Research were worth $10,594,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Bleakley Financial Group LLC grew its holdings in Lam Research by 864.5% during the fourth quarter. Bleakley Financial Group LLC now owns 24,596 shares of the semiconductor company’s stock worth $1,777,000 after acquiring an additional 22,046 shares during the period. YANKCOM Partnership bought a new position in shares of Lam Research during the 4th quarter valued at about $153,000. Insight Advisors LLC PA grew its stake in shares of Lam Research by 883.4% in the 4th quarter. Insight Advisors LLC PA now owns 3,963 shares of the semiconductor company’s stock worth $286,000 after purchasing an additional 3,560 shares during the last quarter. Elemental Capital Partners LLC bought a new stake in shares of Lam Research in the 4th quarter worth approximately $7,739,000. Finally, Robertson Stephens Wealth Management LLC lifted its stake in Lam Research by 819.6% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 28,893 shares of the semiconductor company’s stock valued at $2,094,000 after purchasing an additional 25,751 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a research report on Friday, January 17th. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. B. Riley reduced their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Barclays dropped their price target on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Finally, The Goldman Sachs Group reduced their price objective on shares of 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 investment 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 presently has an average rating of “Moderate Buy” and an average target price of $95.72.

Lam Research Stock Up 1.1 %

Shares of Lam Research stock opened at $82.83 on Friday. The stock has a 50-day simple moving average of $76.53 and a 200-day simple moving average of $78.26. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The firm has a market cap of $106.58 billion, a price-to-earnings ratio of 25.16, a P/E/G ratio of 1.34 and a beta of 1.46. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping 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%. On average, equities research analysts expect that Lam Research Co. will post 3.69 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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 issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.11%. Lam Research’s dividend payout ratio (DPR) is currently 27.95%.

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.