New York State Teachers Retirement System Purchases 913,638 Shares of Lam Research Co. (NASDAQ:LRCX)

New York State Teachers Retirement System increased its position in Lam Research Co. (NASDAQ:LRCX) by 829.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,023,768 shares of the semiconductor company’s stock after acquiring an additional 913,638 shares during the period. New York State Teachers Retirement System owned about 0.08% of Lam Research worth $73,947,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Cypress Capital Group raised its stake in Lam Research by 3.7% in the 3rd quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock worth $2,987,000 after acquiring an additional 132 shares during the last quarter. Savvy Advisors Inc. boosted its holdings in shares of Lam Research by 58.3% in the 3rd quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock valued at $297,000 after acquiring an additional 134 shares during the last quarter. West Oak Capital LLC increased its stake in shares of Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 135 shares during the period. Baldwin Investment Management LLC raised its holdings in shares of 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 last quarter. Finally, Bedell Frazier Investment Counselling LLC raised its holdings in shares of 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 last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Up 2.1 %

Shares of NASDAQ LRCX opened at $83.30 on Friday. The company’s 50-day simple moving average is $77.19 and its 200-day simple moving average is $77.92. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The firm has a market cap of $106.93 billion, a price-to-earnings ratio of 25.30, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Equities analysts predict that Lam Research Co. will post 3.69 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.95%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. BNP Paribas raised shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Cantor Fitzgerald raised shares of Lam Research from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $95.00 to $100.00 in a report on Thursday, January 30th. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. KeyCorp raised shares of 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, Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of Lam Research in a report on Thursday, January 30th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.72.

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.