Board of the Pension Protection Fund Invests $433,000 in Lam Research Co. (NASDAQ:LRCX)

Board of the Pension Protection Fund bought a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,000 shares of the semiconductor company’s stock, valued at approximately $433,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. West Oak Capital LLC lifted its holdings in shares of 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 buying an additional 135 shares in the last quarter. Eagle Bay Advisors LLC lifted its stake in Lam Research by 484.2% in the 4th quarter. Eagle Bay Advisors LLC now owns 555 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 460 shares in the last quarter. Fortitude Family Office LLC boosted its holdings in shares of Lam Research by 896.7% during the 4th quarter. Fortitude Family Office LLC now owns 598 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 538 shares during the last quarter. Rosenberg Matthew Hamilton lifted its stake in shares of Lam Research by 900.0% in the 4th quarter. Rosenberg Matthew Hamilton now owns 620 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 558 shares during the last quarter. Finally, Highline Wealth Partners LLC boosted its holdings in shares of Lam Research by 879.7% in the 4th quarter. Highline Wealth Partners LLC now owns 676 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 607 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Performance

Shares of LRCX stock opened at $75.06 on Wednesday. The firm has a market cap of $96.58 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 1.22 and a beta of 1.45. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The company’s 50 day moving average is $74.70 and its 200 day moving average is $81.22.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business’s revenue was up 19.7% compared to the same quarter last year. During the same period last year, the business posted $6.85 EPS. On average, sell-side analysts anticipate that Lam Research Co. will post 3.5 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s payout ratio is 29.77%.

Analyst Upgrades and Downgrades

Several research firms have commented on LRCX. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Mizuho decreased their price objective on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. The Goldman Sachs Group cut their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, BNP Paribas raised Lam Research to a “hold” rating in a research note on Thursday, October 24th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.59.

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.