Fjarde AP Fonden Fourth Swedish National Pension Fund Boosts Holdings in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Lam Research Corporation by 9.4%, now owning 306,560 shares valued at approximately $22.3 million.
• Wall Street analysts have become more optimistic, with price target upgrades for Lam Research from various firms, including Mizuho raising it to $120.00 and Goldman Sachs initiating coverage with a buy rating.
• Lam Research announced a quarterly dividend of $0.23 per share, representing an annualized yield of 0.9% and having a low dividend payout ratio of 22.12%.

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 9.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 306,560 shares of the semiconductor company's stock after buying an additional 26,400 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Lam Research were worth $22,287,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Lam Research during the 1st quarter worth about $26,000. West Paces Advisors Inc. purchased a new position in Lam Research in the 4th quarter worth approximately $27,000. Mpwm Advisory Solutions LLC purchased a new position in Lam Research in the 4th quarter worth approximately $27,000. Park Square Financial Group LLC purchased a new position in Lam Research in the 4th quarter worth approximately $31,000. Finally, Putney Financial Group LLC purchased a new position in Lam Research in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Evercore ISI upped their price target on Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. KeyCorp upped their price target on Lam Research from $105.00 to $115.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Mizuho upped their price target on Lam Research from $115.00 to $120.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. The Goldman Sachs Group initiated coverage on Lam Research in a report on Thursday, July 10th. They issued a "buy" rating and a $115.00 price target for the company. Finally, Morgan Stanley upped their target price on Lam Research from $87.00 to $94.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $107.09.

Lam Research Trading Up 1.4%

NASDAQ:LRCX opened at $106.74 on Thursday. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $107.49. The stock has a market cap of $135.09 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 1.36 and a beta of 1.65. The business has a fifty day moving average of $96.79 and a 200-day moving average of $83.51. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.55 and a current ratio of 2.21.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The company had revenue of $5.17 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter in the prior year, the business posted $1.03 earnings per share. The company's revenue for the quarter was up 33.6% compared to the same quarter last year. Equities analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's dividend payout ratio is currently 22.12%.

Lam Research Company 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.

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