Lam Research Co. (NASDAQ:LRCX) Stock Position Increased by Vestcor Inc

Vestcor Inc increased its position in Lam Research Co. (NASDAQ:LRCX) by 331.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 23,558 shares of the semiconductor company’s stock after acquiring an additional 18,102 shares during the period. Vestcor Inc’s holdings in Lam Research were worth $1,702,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Insight Wealth Partners LLC acquired a new stake in shares of Lam Research in the third quarter valued at $202,000. B&L Asset Management LLC acquired a new stake in shares of Lam Research in the third quarter valued at $204,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Lam Research in the third quarter valued at $220,000. Concorde Asset Management LLC acquired a new stake in shares of Lam Research in the third quarter valued at $242,000. Finally, Virtus Investment Advisers Inc. purchased a new stake in shares of Lam Research during the third quarter valued at $245,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $78.69 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The firm has a market cap of $101.01 billion, a price-to-earnings ratio of 23.90, a P/E/G ratio of 1.47 and a beta of 1.53. The business’s 50-day simple moving average is $79.57 and its 200-day simple moving average is $77.45. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, equities research analysts expect that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors 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 annualized dividend and a yield of 1.17%. Lam Research’s payout ratio is 27.96%.

Insider Activity at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the sale, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

LRCX has been the subject of several analyst reports. Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and upped their target price for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of Lam Research in a report on Thursday, January 30th. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a report on Friday, January 17th. Finally, Wells Fargo & Company upped their target price on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.22.

Lam Research 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.