Lam Research Corporation (NASDAQ:LRCX) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund raised its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 1.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,607,244 shares of the semiconductor company's stock after acquiring an additional 16,434 shares during the period. New York State Common Retirement Fund owned approximately 0.13% of Lam Research worth $116,847,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in LRCX. Citizens National Bank Trust Department raised its position in Lam Research by 34.0% during the first quarter. Citizens National Bank Trust Department now owns 603 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 153 shares during the period. SteelPeak Wealth LLC raised its position in shares of Lam Research by 0.4% in the first quarter. SteelPeak Wealth LLC now owns 42,064 shares of the semiconductor company's stock valued at $3,068,000 after buying an additional 178 shares during the last quarter. Transcend Capital Advisors LLC increased its position in Lam Research by 2.3% during the first quarter. Transcend Capital Advisors LLC now owns 8,065 shares of the semiconductor company's stock worth $586,000 after purchasing an additional 182 shares during the last quarter. Capital Advisors Inc. OK increased its position in Lam Research by 0.6% during the first quarter. Capital Advisors Inc. OK now owns 29,927 shares of the semiconductor company's stock worth $2,176,000 after purchasing an additional 183 shares during the last quarter. Finally, Atlantic Edge Private Wealth Management LLC increased its position in Lam Research by 33.3% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 800 shares of the semiconductor company's stock worth $58,000 after purchasing an additional 200 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Trading Down 1.7%

Shares of NASDAQ LRCX traded down $1.69 on Monday, reaching $100.04. 2,342,258 shares of the company traded hands, compared to its average volume of 11,962,466. The company has a 50 day moving average of $88.50 and a 200 day moving average of $79.96. The stock has a market capitalization of $127.97 billion, a PE ratio of 27.87, a P/E/G ratio of 1.44 and a beta of 1.68. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $108.23. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39.

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

Lam Research Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on LRCX shares. Barclays lowered their target price on shares of Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. UBS Group decreased their price target on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, April 14th. B. Riley reissued a "buy" rating and set a $115.00 price objective (up previously from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. Wells Fargo & Company raised their price objective on shares of Lam Research from $75.00 to $95.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Finally, Evercore ISI lifted their target price on shares of Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $98.19.

About Lam Research

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.