Forsta AP Fonden reduced its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 3.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 398,800 shares of the semiconductor company's stock after selling 13,200 shares during the quarter. Forsta AP Fonden's holdings in Lam Research were worth $28,993,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LRCX. Smallwood Wealth Investment Management LLC acquired a new stake in Lam Research in the 1st quarter valued at about $26,000. West Paces Advisors Inc. bought a new position in Lam Research in the 4th quarter valued at about $27,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Lam Research during the 4th quarter worth $27,000. Park Square Financial Group LLC acquired a new position in shares of Lam Research during the fourth quarter worth $31,000. Finally, Putney Financial Group LLC bought a new stake in shares of Lam Research during the fourth quarter worth about $36,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have commented on LRCX. Needham & Company LLC upped their price objective on shares of Lam Research from $110.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Morgan Stanley increased their price objective on Lam Research from $87.00 to $94.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Barclays set a $83.00 target price on shares of Lam Research and gave the company an "equal weight" rating in a research note on Monday, July 28th. TD Cowen boosted their price objective on Lam Research from $100.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, TD Securities dropped their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.09.
Get Our Latest Stock Analysis on Lam Research
Lam Research Price Performance
Shares of LRCX stock opened at $99.15 on Friday. The firm has a market cap of $126.82 billion, a P/E ratio of 23.83, a P/E/G ratio of 1.24 and a beta of 1.65. The firm has a fifty day moving average of $95.10 and a two-hundred day moving average of $82.89. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 1.55. Lam Research Corporation has a 1-year low of $56.32 and a 1-year high of $102.59.
Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 EPS for the quarter, beating 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 analyst estimates of $4.99 billion. During the same period in the prior year, the company earned $1.03 earnings per share. The business's revenue was up 33.6% compared to the same quarter last year. As a group, research analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.
Lam Research Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 0.9%. Lam Research's dividend payout ratio is currently 22.12%.
About Lam Research
(
Free Report)
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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