Illinois Municipal Retirement Fund Acquires 70,899 Shares of Lam Research Co. (NASDAQ:LRCX)

Illinois Municipal Retirement Fund raised its holdings in Lam Research Co. (NASDAQ:LRCX) by 483.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 85,570 shares of the semiconductor company’s stock after buying an additional 70,899 shares during the period. Illinois Municipal Retirement Fund’s holdings in Lam Research were worth $6,181,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its holdings in Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after acquiring an additional 15,005,178 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Lam Research by 860.4% during the 4th quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock worth $851,361,000 after purchasing an additional 10,559,508 shares during the last quarter. Swedbank AB raised its stake in shares of Lam Research by 1,488.8% during the 4th quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock worth $221,674,000 after purchasing an additional 2,875,843 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Lam Research by 827.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock valued at $228,285,000 after buying an additional 2,819,668 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Lam Research in the fourth quarter valued at $175,652,000. 84.61% of the stock is owned by institutional investors.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the transaction, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is currently owned by insiders.

Lam Research Trading Up 1.3 %

Shares of NASDAQ:LRCX opened at $81.30 on Thursday. The business’s 50 day simple moving average is $78.74 and its 200 day simple moving average is $78.11. Lam Research Co. has a 1 year low of $68.87 and a 1 year 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 $104.36 billion, a P/E ratio of 24.70, a P/E/G ratio of 1.47 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is presently 27.96%.

Analysts Set New Price Targets

Several analysts have issued reports on LRCX shares. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Wells Fargo & Company upped their target price on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $85.00 to $91.00 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 price target on the stock in a research report on Friday, January 17th. Finally, Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and raised their price objective for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.