Retirement Systems of Alabama Acquires 249,966 Shares of Lam Research Co. (NASDAQ:LRCX)

Retirement Systems of Alabama raised its holdings in Lam Research Co. (NASDAQ:LRCX) by 873.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 278,579 shares of the semiconductor company’s stock after acquiring an additional 249,966 shares during the period. Retirement Systems of Alabama’s holdings in Lam Research were worth $20,122,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. lifted its position in Lam Research by 2,400.0% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after purchasing an additional 192 shares during the last quarter. Sunflower Bank N.A. bought a new stake in shares of Lam Research during the 3rd quarter worth $202,000. Insight Wealth Partners LLC purchased a new position in Lam Research in the third quarter worth $202,000. B&L Asset Management LLC purchased a new stake in Lam Research during the third quarter valued at about $204,000. Finally, CWC Advisors LLC. bought a new stake in Lam Research during the third quarter worth about $220,000. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

LRCX has been the topic of several recent research reports. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Mizuho decreased their price target on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Lam Research in a research note on Thursday, January 30th. Barclays decreased their target price on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, B. Riley cut their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.72.

Lam Research Stock Performance

Shares of Lam Research stock opened at $82.83 on Friday. The business has a fifty day simple moving average of $76.53 and a two-hundred day simple moving average of $78.26. The firm has a market capitalization of $106.58 billion, a P/E ratio of 25.16, a P/E/G ratio of 1.34 and a beta of 1.46. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts forecast that Lam Research Co. will post 3.69 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.11%. Lam Research’s payout ratio is 27.95%.

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.