18,500 Shares in Lam Research Co. (NASDAQ:LRCX) Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 18,500 shares of the semiconductor company’s stock, valued at approximately $14,490,000.

Several other institutional investors have also modified their holdings of the stock. Arlington Trust Co LLC lifted its position in shares of Lam Research by 7.7% during the 4th quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock worth $143,000 after buying an additional 13 shares during the last quarter. KB Financial Partners LLC increased its holdings in shares of Lam Research by 5.9% in the 2nd quarter. KB Financial Partners LLC now owns 287 shares of the semiconductor company’s stock valued at $185,000 after acquiring an additional 16 shares during the period. Clear Creek Financial Management LLC increased its holdings in shares of Lam Research by 1.3% in the 3rd quarter. Clear Creek Financial Management LLC now owns 1,342 shares of the semiconductor company’s stock valued at $841,000 after acquiring an additional 17 shares during the period. Asset Dedication LLC increased its holdings in shares of Lam Research by 56.7% in the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 17 shares during the period. Finally, Western Financial Corp CA increased its holdings in shares of Lam Research by 1.7% in the 4th quarter. Western Financial Corp CA now owns 1,003 shares of the semiconductor company’s stock valued at $786,000 after acquiring an additional 17 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of Lam Research stock traded down $26.44 on Friday, hitting $957.04. The company’s stock had a trading volume of 989,263 shares, compared to its average volume of 784,994. The company has a market capitalization of $125.47 billion, a P/E ratio of 37.01, a price-to-earnings-growth ratio of 3.50 and a beta of 1.51. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61. The firm has a fifty day moving average price of $940.04 and a 200-day moving average price of $789.58. Lam Research Co. has a 52-week low of $482.74 and a 52-week high of $1,007.39.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.06 by $0.46. The company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm’s quarterly revenue was down 28.8% on a year-over-year basis. During the same period in the prior year, the firm earned $10.71 EPS. On average, equities research analysts expect that Lam Research Co. will post 28.88 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date was Tuesday, March 12th. Lam Research’s dividend payout ratio is currently 30.94%.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the sale, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Insiders sold a total of 7,029 shares of company stock valued at $6,559,489 in the last 90 days. 0.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

LRCX has been the topic of a number of recent research reports. Needham & Company LLC lifted their target price on shares of Lam Research from $800.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, January 25th. UBS Group boosted their price objective on shares of Lam Research from $885.00 to $1,130.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Cantor Fitzgerald boosted their price objective on shares of Lam Research from $900.00 to $1,100.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Barclays boosted their price objective on shares of Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. Finally, Mizuho boosted their price objective on shares of Lam Research from $900.00 to $935.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $848.27.

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.