Lam Research Co. (NASDAQ:LRCX) Shares Acquired by State Farm Mutual Automobile Insurance Co.

State Farm Mutual Automobile Insurance Co. raised its stake in Lam Research Co. (NASDAQ:LRCX) by 900.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 455,360 shares of the semiconductor company’s stock after buying an additional 409,824 shares during the period. State Farm Mutual Automobile Insurance Co.’s holdings in Lam Research were worth $32,891,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. West Oak Capital LLC increased its position in shares of Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 135 shares in the last quarter. IHT Wealth Management LLC raised its stake in Lam Research by 5.7% during the 3rd quarter. IHT Wealth Management LLC now owns 2,729 shares of the semiconductor company’s stock valued at $2,216,000 after purchasing an additional 147 shares during the period. Community Bank N.A. lifted its holdings in shares of Lam Research by 12.5% in the third quarter. Community Bank N.A. now owns 1,765 shares of the semiconductor company’s stock valued at $1,440,000 after purchasing an additional 196 shares in the last quarter. Algert Global LLC boosted its position in shares of Lam Research by 40.5% in the third quarter. Algert Global LLC now owns 694 shares of the semiconductor company’s stock worth $566,000 after buying an additional 200 shares during the period. Finally, Icon Wealth Advisors LLC grew its holdings in shares of Lam Research by 11.0% during the third quarter. Icon Wealth Advisors LLC now owns 2,217 shares of the semiconductor company’s stock valued at $1,809,000 after buying an additional 220 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and increased their price objective for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. The Goldman Sachs Group dropped their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Finally, KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a research note on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average target price of $97.59.

Lam Research Stock Performance

Shares of NASDAQ:LRCX opened at $72.61 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The business’s fifty day moving average price is $79.51 and its two-hundred day moving average price is $77.28. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The stock has a market capitalization of $93.21 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.27%. Lam Research’s payout ratio is 27.96%.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.29% of the company’s stock.

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.