584,918 Shares in Lam Research Co. (NASDAQ:LRCX) Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 584,918 shares of the semiconductor company's stock, valued at approximately $42,249,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. McLean Asset Management Corp raised its holdings in shares of Lam Research by 6.3% in the fourth quarter. McLean Asset Management Corp now owns 5,122 shares of the semiconductor company's stock worth $370,000 after acquiring an additional 302 shares during the last quarter. Fairway Wealth LLC lifted its holdings in Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 306 shares in the last quarter. Financial Perspectives Inc boosted its stake in shares of Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 309 shares during the last quarter. Bell Investment Advisors Inc grew its holdings in shares of 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 in the last quarter. Finally, Country Trust Bank raised its position in shares of Lam Research by 900.0% in the fourth quarter. Country Trust Bank now owns 400 shares of the semiconductor company's stock valued at $29,000 after buying an additional 360 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Performance

LRCX stock traded up $0.06 during mid-day trading on Wednesday, reaching $84.00. The company had a trading volume of 9,433,382 shares, compared to its average volume of 12,238,640. Lam Research Co. has a one year low of $56.32 and a one year high of $113.00. The stock has a market capitalization of $107.45 billion, a P/E ratio of 25.52, a P/E/G ratio of 1.47 and a beta of 1.64. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The stock's 50-day simple moving average is $73.11 and its two-hundred day simple moving average is $75.78.

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 for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The business had revenue of $4.72 billion for the quarter, compared to analysts' expectations 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 was up 24.4% on a year-over-year basis. During the same period in the previous year, the business earned $7.79 earnings per share. Research analysts anticipate that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

Wall Street Analyst Weigh In

LRCX has been the subject of several analyst reports. Oppenheimer cut their price target on Lam Research from $95.00 to $80.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Jefferies Financial Group boosted their price objective on shares of Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Barclays lowered their target price on 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. Wells Fargo & Company lowered their target price on Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Finally, UBS Group cut their price target on Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $91.56.

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.