Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its stake in Lam Research Co. (NASDAQ:LRCX) by 36.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,184 shares of the semiconductor company’s stock after purchasing an additional 4,819 shares during the period. Illinois Municipal Retirement Fund’s holdings in Lam Research were worth $14,243,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Orion Capital Management LLC acquired a new position in Lam Research during the third quarter worth approximately $25,000. BluePath Capital Management LLC acquired a new position in shares of Lam Research in the third quarter valued at approximately $28,000. OFI Invest Asset Management purchased a new position in Lam Research during the 3rd quarter worth $30,000. Asset Dedication LLC raised its holdings in Lam Research by 56.7% during the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 17 shares in the last quarter. Finally, Valued Wealth Advisors LLC acquired a new stake in shares of Lam Research in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the transaction, the director now directly owns 10,541 shares in the company, valued at approximately $10,246,168.23. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,029 shares of company stock worth $6,559,489. 0.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

LRCX has been the topic of several recent analyst reports. Susquehanna upped their target price on shares of Lam Research from $655.00 to $880.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. B. Riley raised shares of Lam Research from a “neutral” rating to a “buy” rating and upped their price target for the company from $870.00 to $1,100.00 in a report on Friday. Raymond James raised their price objective on shares of Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. The Goldman Sachs Group increased their target price on Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Finally, Cantor Fitzgerald lifted their price target on shares of Lam Research from $900.00 to $1,100.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $931.85.

Lam Research Stock Performance

NASDAQ:LRCX traded up $24.80 during midday trading on Tuesday, reaching $892.87. 368,772 shares of the company traded hands, compared to its average volume of 1,048,436. Lam Research Co. has a twelve month low of $493.42 and a twelve month high of $1,007.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. The company has a fifty day moving average price of $944.64 and a 200 day moving average price of $804.00. The firm has a market capitalization of $117.06 billion, a price-to-earnings ratio of 33.57, a price-to-earnings-growth ratio of 3.15 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, topping the consensus estimate of $7.06 by $0.46. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the prior year, the firm earned $10.71 earnings per share. The company’s quarterly revenue was down 28.8% on a year-over-year basis. On average, analysts expect that Lam Research Co. will post 28.92 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date was Tuesday, March 12th. Lam Research’s payout ratio is currently 30.94%.

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.