Teacher Retirement System of Texas Increases Stock Position in Lam Research Co. (NASDAQ:LRCX)

Teacher Retirement System of Texas lifted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 1,268.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 689,738 shares of the semiconductor company’s stock after buying an additional 639,338 shares during the period. Teacher Retirement System of Texas owned 0.05% of Lam Research worth $49,820,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Cypress Capital Group lifted its stake in shares of Lam Research by 3.7% during the third quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock valued at $2,987,000 after buying an additional 132 shares during the period. West Oak Capital LLC raised its stake in Lam Research by 50.9% during 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 raised its stake in Lam Research by 1.4% during 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. Bedell Frazier Investment Counselling LLC raised its stake in Lam Research by 10.1% during 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. Finally, Advisors Asset Management Inc. raised its stake in Lam Research by 3.9% during the third quarter. Advisors Asset Management Inc. now owns 3,859 shares of the semiconductor company’s stock worth $3,149,000 after purchasing an additional 144 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Trading Down 0.5 %

NASDAQ LRCX opened at $77.55 on Friday. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The company has a market capitalization of $99.55 billion, a price-to-earnings ratio of 23.56, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The company’s fifty day moving average price is $79.60 and its two-hundred day moving average price is $77.33.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating 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%. As a group, research analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.19%. Lam Research’s dividend payout ratio (DPR) is 27.96%.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Oppenheimer assumed coverage on shares of Lam Research in a research note on Thursday. They set an “outperform” rating and a $95.00 price target on the stock. Barclays cut their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Mizuho increased their price target on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. The Goldman Sachs Group dropped their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Lam Research has an average rating of “Moderate Buy” and an average price target of $98.06.

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.