Public Sector Pension Investment Board Raises Position in Lam Research Co. (NASDAQ:LRCX)

Public Sector Pension Investment Board lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 875.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,690 shares of the semiconductor company’s stock after purchasing an additional 43,700 shares during the quarter. Public Sector Pension Investment Board’s holdings in Lam Research were worth $39,735,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in LRCX. CarsonAllaria Wealth Management Ltd. acquired a new stake in Lam Research in the 2nd quarter worth about $32,000. RFP Financial Group LLC boosted its position in shares of Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 12 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in Lam Research in the second quarter valued at approximately $40,000. Country Trust Bank acquired a new position in Lam Research during the second quarter worth approximately $43,000. Finally, MFA Wealth Advisors LLC purchased a new position in Lam Research during the second quarter worth approximately $45,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Down 1.5 %

Shares of NASDAQ LRCX opened at $71.57 on Thursday. The firm has a market cap of $92.09 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 1.17 and a beta of 1.48. Lam Research Co. has a 1 year low of $68.72 and a 1 year high of $113.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The stock’s 50-day simple moving average is $76.70 and its 200-day simple moving average is $86.90.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion during 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 quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the business earned $6.85 EPS. As a group, equities analysts anticipate that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

Insider Transactions at Lam Research

In other news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lowered their price target on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. BNP Paribas upgraded Lam Research to a “hold” rating in a report on Thursday, October 24th. StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $100.00 target price (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.97.

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.