New Jersey Better Educational Savings Trust Buys New Position in Lam Research Co. (NASDAQ:LRCX)

New Jersey Better Educational Savings Trust bought a new stake in Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 270 shares of the semiconductor company’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich raised its position in Lam Research by 2.3% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 139,698 shares of the semiconductor company’s stock valued at $109,420,000 after buying an additional 3,124 shares during the last quarter. Syon Capital LLC raised its position in Lam Research by 24.0% in the 4th quarter. Syon Capital LLC now owns 1,622 shares of the semiconductor company’s stock valued at $1,271,000 after buying an additional 314 shares during the last quarter. Meritage Portfolio Management acquired a new stake in Lam Research in the 4th quarter valued at approximately $215,000. Pittenger & Anderson Inc. increased its position in shares of Lam Research by 14.2% during the 4th quarter. Pittenger & Anderson Inc. now owns 5,406 shares of the semiconductor company’s stock worth $4,234,000 after purchasing an additional 672 shares during the last quarter. Finally, Bailard Inc. increased its position in shares of Lam Research by 2.6% during the 4th quarter. Bailard Inc. now owns 8,658 shares of the semiconductor company’s stock worth $6,781,000 after purchasing an additional 221 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Performance

LRCX traded up $16.58 during trading on Thursday, hitting $901.47. The stock had a trading volume of 1,306,880 shares, compared to its average volume of 1,071,539. The company has a 50 day moving average price of $943.93 and a 200-day moving average price of $806.38. The firm has a market cap of $118.18 billion, a price-to-earnings ratio of 34.86, a P/E/G ratio of 3.21 and a beta of 1.51. Lam Research Co. has a one year low of $493.42 and a one year high of $1,007.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.26 by $0.53. The business had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $6.99 EPS. As a group, research analysts predict that Lam Research Co. will post 28.96 EPS for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were given a dividend of $2.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.89%. Lam Research’s payout ratio is 30.94%.

Insider Activity

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Raymond James boosted their price target on Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Evercore ISI assumed coverage on Lam Research in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 price target on the stock. B. Riley raised Lam Research from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $870.00 to $1,100.00 in a research report on Friday, April 19th. Susquehanna lowered their price target on Lam Research from $880.00 to $850.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, TD Cowen boosted their price target on Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $950.85.

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.