Louisiana State Employees Retirement System Invests $11.84 Million in Lam Research Corporation (NASDAQ:LRCX)

Louisiana State Employees Retirement System purchased a new position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 162,800 shares of the semiconductor company's stock, valued at approximately $11,836,000.

A number of other large investors also recently added to or reduced their stakes in LRCX. One Charles Private Wealth Services LLC lifted its stake in Lam Research by 843.4% during the fourth quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company's stock worth $289,000 after purchasing an additional 3,576 shares in the last quarter. Brighton Jones LLC raised its stake in shares of Lam Research by 1,032.4% in the fourth quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock valued at $1,025,000 after acquiring an additional 12,936 shares in the last quarter. Proficio Capital Partners LLC raised its stake in shares of Lam Research by 966.8% in the fourth quarter. Proficio Capital Partners LLC now owns 36,986 shares of the semiconductor company's stock valued at $2,672,000 after acquiring an additional 33,519 shares in the last quarter. AlphaQuest LLC raised its stake in shares of Lam Research by 182.0% in the fourth quarter. AlphaQuest LLC now owns 4,354 shares of the semiconductor company's stock valued at $314,000 after acquiring an additional 2,810 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Lam Research by 1,315.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 4,231 shares of the semiconductor company's stock valued at $306,000 after acquiring an additional 3,932 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LRCX has been the topic of several analyst reports. Evercore ISI increased their price objective on Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Wells Fargo & Company increased their price objective on Lam Research from $75.00 to $95.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. B. Riley reiterated a "buy" rating and issued a $115.00 price objective (up from $95.00) on shares of Lam Research in a research note on Wednesday, June 18th. The Goldman Sachs Group initiated coverage on Lam Research in a research note on Thursday. They issued a "buy" rating and a $115.00 price objective on the stock. Finally, Argus upgraded Lam Research to a "strong-buy" rating in a research note on Friday, April 25th. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $97.48.

Lam Research Stock Performance

Shares of LRCX stock traded up $0.67 during mid-day trading on Friday, hitting $101.73. 6,202,556 shares of the stock were exchanged, compared to its average volume of 12,344,380. The stock's fifty day simple moving average is $88.50 and its two-hundred day simple moving average is $79.92. The stock has a market capitalization of $130.12 billion, a price-to-earnings ratio of 28.35, a P/E/G ratio of 1.44 and a beta of 1.68. Lam Research Corporation has a 12-month low of $56.32 and a 12-month high of $108.23. 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 issued its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The business's quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter last year, the company posted $7.79 earnings per share. On average, analysts forecast that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's payout ratio is 25.63%.

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.