Public Employees Retirement System of Ohio Takes Position in Lam Research Co. (NASDAQ:LRCX)

Public Employees Retirement System of Ohio acquired a new stake in Lam Research Co. (NASDAQ:LRCX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 584,918 shares of the semiconductor company's stock, valued at approximately $42,249,000.

Other large investors have also modified their holdings of the company. Financial Perspectives Inc increased its stake in shares of Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 309 shares during the period. Fairway Wealth LLC increased its stake in shares of 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 acquiring an additional 306 shares during the period. Midwest Capital Advisors LLC acquired a new position in shares of Lam Research during the fourth quarter worth about $27,000. West Paces Advisors Inc. acquired a new position in shares of Lam Research during the fourth quarter worth about $27,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in Lam Research during the fourth quarter worth about $27,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Price Performance

LRCX traded up $2.88 during midday trading on Tuesday, hitting $83.94. The company had a trading volume of 9,525,842 shares, compared to its average volume of 12,249,832. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The company has a market capitalization of $107.37 billion, a PE ratio of 25.50, a P/E/G ratio of 1.47 and a beta of 1.64. Lam Research Co. has a twelve month low of $56.32 and a twelve month high of $113.00. The firm's 50-day simple moving average is $72.98 and its 200-day simple moving average is $75.72.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating 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 net margin of 26.49% and a return on equity of 51.86%. The company's revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter last year, the firm earned $7.79 EPS. Equities research analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.10%. Lam Research's payout ratio is 25.63%.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of research analyst reports. Stifel Nicolaus decreased their price objective on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Susquehanna raised shares of Lam Research from a "neutral" rating to a "positive" rating and boosted their price objective for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Morgan Stanley upped their price target on shares of Lam Research from $81.00 to $82.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. Argus raised shares of Lam Research to a "strong-buy" rating in a report on Friday, April 25th. Finally, Sanford C. Bernstein raised shares of Lam Research from a "market perform" rating to an "outperform" rating and upped their price target for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $91.56.

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.