Lam Research Co. (NASDAQ:LRCX) Shares Bought by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund grew its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 880.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,261 shares of the semiconductor company’s stock after purchasing an additional 99,016 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Lam Research were worth $7,964,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Cypress Capital Group lifted its position in Lam Research by 3.7% in the third quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock worth $2,987,000 after purchasing an additional 132 shares during the period. Savvy Advisors Inc. lifted its position in Lam Research by 58.3% in the third quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock worth $297,000 after purchasing an additional 134 shares during the period. West Oak Capital LLC lifted its position in Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 135 shares during the period. Baldwin Investment Management LLC lifted its position in Lam Research by 1.4% in the third quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock worth $8,364,000 after purchasing an additional 137 shares during the period. Finally, Bedell Frazier Investment Counselling LLC lifted its position in Lam Research by 10.1% in the third quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company’s stock worth $1,272,000 after purchasing an additional 143 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Trading Up 1.3 %

Shares of NASDAQ:LRCX opened at $81.30 on Thursday. The stock has a market capitalization of $104.36 billion, a PE ratio of 24.70, a P/E/G ratio of 1.47 and a beta of 1.46. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The firm has a fifty day moving average price of $78.74 and a 200 day moving average price of $78.11. 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 (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) 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%. Analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is presently 27.96%.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the sale, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LRCX has been the topic of several research reports. The Goldman Sachs Group dropped their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Mizuho upped their price target on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a report on Tuesday, February 18th. Finally, KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a report on Friday, January 17th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.22.

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.