Lam Research Co. (NASDAQ:LRCX) Stock Holdings Boosted by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its position in Lam Research Co. (NASDAQ:LRCX) by 875.8% during the third quarter, Holdings Channel reports. The institutional investor owned 48,690 shares of the semiconductor company’s stock after buying an additional 43,700 shares during the quarter. Public Sector Pension Investment Board’s holdings in Lam Research were worth $39,735,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LRCX. Van ECK Associates Corp increased its holdings in shares of Lam Research by 1,394.7% in the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after buying an additional 15,005,178 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Lam Research by 0.6% in the third quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock worth $1,527,273,000 after purchasing an additional 11,093 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Lam Research by 7.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock worth $1,335,522,000 after purchasing an additional 89,470 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Lam Research by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 822,599 shares of the semiconductor company’s stock valued at $671,307,000 after buying an additional 10,868 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Lam Research by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock valued at $654,009,000 after buying an additional 25,362 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on LRCX. Morgan Stanley lowered their target price on Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. B. Riley reduced their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. TD Cowen increased their price target on shares of Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Finally, Wells Fargo & Company decreased their price objective on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus price target of $97.97.

Lam Research Trading Down 1.5 %

Shares of Lam Research stock opened at $71.57 on Thursday. Lam Research Co. has a 1 year low of $68.72 and a 1 year high of $113.00. The company’s fifty day simple moving average is $76.70 and its 200-day simple moving average is $86.90. The company 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. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. The company had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period last year, the business posted $6.85 EPS. As a group, sell-side analysts expect that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

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

Insiders Place Their Bets

In related news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

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.