Illinois Municipal Retirement Fund Has $6.18 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

Illinois Municipal Retirement Fund grew its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 483.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 85,570 shares of the semiconductor company’s stock after buying an additional 70,899 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Lam Research were worth $6,181,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cypress Capital Group raised its stake in shares of Lam Research by 3.7% in 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. Savvy Advisors Inc. increased its holdings in Lam Research by 58.3% in the 3rd quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock worth $297,000 after acquiring an additional 134 shares during the last quarter. West Oak Capital LLC raised its stake in Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 135 shares during the period. Baldwin Investment Management LLC raised its stake in Lam Research by 1.4% in the 3rd quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock valued at $8,364,000 after acquiring an additional 137 shares during the period. Finally, Bedell Frazier Investment Counselling LLC lifted its holdings 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 valued at $1,272,000 after purchasing an additional 143 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

Lam Research Stock Performance

Lam Research stock opened at $81.30 on Thursday. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The firm’s fifty day moving average price is $78.74 and its 200-day moving average price is $78.11. The stock has a market cap of $104.36 billion, a P/E ratio of 24.70, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. On average, 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.13%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.96%.

Analysts Set New Price Targets

LRCX has been the topic of several research reports. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Morgan Stanley raised their price target on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and lifted their price target for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. Finally, KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and a consensus target price of $98.22.

Lam Research Company 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.