New Jersey Better Educational Savings Trust Purchases New Holdings in Lam Research Co. (NASDAQ:LRCX)

New Jersey Better Educational Savings Trust purchased a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 270 shares of the semiconductor company’s stock, valued at approximately $211,000.

Several other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in shares of Lam Research by 76,165.7% in the fourth quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock worth $249,099,000 after buying an additional 317,611 shares during the last quarter. Cerity Partners LLC grew its position in Lam Research by 1,125.6% during the fourth quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock valued at $267,984,000 after buying an additional 314,224 shares during the period. Bank of New York Mellon Corp grew its position in shares of Lam Research by 10.8% in the third quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock valued at $1,029,386,000 after purchasing an additional 159,815 shares during the period. Canada Pension Plan Investment Board grew its position in shares of Lam Research by 106.5% in the third quarter. Canada Pension Plan Investment Board now owns 301,071 shares of the semiconductor company’s stock valued at $188,702,000 after purchasing an additional 155,240 shares during the period. Finally, Northern Trust Corp grew its position in shares of Lam Research by 9.7% in the third quarter. Northern Trust Corp now owns 1,523,215 shares of the semiconductor company’s stock valued at $954,705,000 after purchasing an additional 134,558 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LRCX has been the topic of several research reports. Evercore ISI initiated coverage on shares of Lam Research in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $1,030.00 price target on shares of Lam Research in a research note on Thursday. Susquehanna decreased their price target on shares of Lam Research from $880.00 to $850.00 and set a “neutral” rating on the stock in a research note on Thursday. TD Cowen lifted their target price on shares of Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Raymond James lifted their target price on shares of Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $950.85.

Lam Research Stock Up 1.9 %

Shares of LRCX stock traded up $16.58 during trading on Thursday, reaching $901.47. The company’s stock had a trading volume of 1,306,880 shares, compared to its average volume of 1,071,539. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. The company has a market capitalization of $118.18 billion, a price-to-earnings ratio of 34.86, a P/E/G ratio of 3.21 and a beta of 1.51. The stock’s 50-day moving average price is $943.93 and its 200 day moving average price is $806.38. Lam Research Co. has a 1-year low of $493.42 and a 1-year high of $1,007.39.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.26 by $0.53. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the prior year, the business posted $6.99 EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, research analysts anticipate that Lam Research Co. will post 28.96 EPS for the current year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s payout ratio is 30.94%.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the sale, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Abhijit Y. Talwalkar sold 882 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of the sale, the director now owns 10,541 shares in the company, valued at approximately $10,246,168.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the transaction, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,029 shares of company stock worth $6,559,489. Corporate insiders own 0.32% of the company’s stock.

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.