Kentucky Retirement Systems Insurance Trust Fund Boosts Stock Holdings in Lam Research Corporation (NASDAQ:LRCX)

Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 550.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,393 shares of the semiconductor company's stock after purchasing an additional 31,642 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Lam Research were worth $2,718,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Fairway Wealth LLC raised its holdings in Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 306 shares in the last quarter. West Paces Advisors Inc. purchased a new position in Lam Research during the fourth quarter worth about $27,000. Mpwm Advisory Solutions LLC acquired a new position in Lam Research during the fourth quarter worth about $27,000. Midwest Capital Advisors LLC acquired a new position in Lam Research during the fourth quarter worth about $27,000. Finally, Bell Investment Advisors Inc grew its position in Lam Research by 836.6% during the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock worth $28,000 after buying an additional 343 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Down 1.9%

Shares of NASDAQ LRCX opened at $90.49 on Friday. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $113.00. The firm's 50 day moving average price is $79.62 and its 200 day moving average price is $77.57. The firm has a market cap of $115.75 billion, a P/E ratio of 25.22, a price-to-earnings-growth ratio of 1.27 and a beta of 1.65. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The firm had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the business earned $7.79 earnings per share. Lam Research's revenue was up 24.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 1.02%. Lam Research's dividend payout ratio (DPR) is currently 25.63%.

Analysts Set New Price Targets

Several brokerages have weighed in on LRCX. TD Cowen lowered their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. UBS Group lowered their target price on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Barclays lowered their target price on shares of Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Stifel Nicolaus lowered their target price on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company lowered their target price on shares of Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $92.78.

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.

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