KLP Kapitalforvaltning AS Has $47.91 Million Holdings in Lam Research Corporation (NASDAQ:LRCX)

KLP Kapitalforvaltning AS boosted its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 3.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 657,280 shares of the semiconductor company's stock after purchasing an additional 19,300 shares during the period. KLP Kapitalforvaltning AS owned about 0.05% of Lam Research worth $47,912,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. GW&K Investment Management LLC lifted its position in shares of Lam Research by 10.1% during the first quarter. GW&K Investment Management LLC now owns 1,534 shares of the semiconductor company's stock worth $112,000 after purchasing an additional 141 shares during the last quarter. Citizens National Bank Trust Department lifted its holdings in Lam Research by 34.0% during the 1st quarter. Citizens National Bank Trust Department now owns 603 shares of the semiconductor company's stock worth $44,000 after buying an additional 153 shares during the last quarter. Cassaday & Co Wealth Management LLC grew its position in shares of Lam Research by 2.1% in the 1st quarter. Cassaday & Co Wealth Management LLC now owns 7,823 shares of the semiconductor company's stock worth $569,000 after acquiring an additional 163 shares in the last quarter. SteelPeak Wealth LLC increased its holdings in shares of Lam Research by 0.4% in the 1st quarter. SteelPeak Wealth LLC now owns 42,064 shares of the semiconductor company's stock valued at $3,068,000 after acquiring an additional 178 shares during the last quarter. Finally, Transcend Capital Advisors LLC raised its position in shares of Lam Research by 2.3% during the 1st quarter. Transcend Capital Advisors LLC now owns 8,065 shares of the semiconductor company's stock valued at $586,000 after acquiring an additional 182 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Down 0.7%

NASDAQ:LRCX traded down $0.69 on Friday, hitting $97.09. 4,450,475 shares of the company's stock traded hands, compared to its average volume of 11,906,894. The firm has a 50-day moving average price of $92.24 and a 200-day moving average price of $81.49. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. The company has a market cap of $124.19 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 1.37 and a beta of 1.68. 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 announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The business had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period last year, the company earned $7.79 earnings per share. Lam Research's quarterly revenue was up 24.4% compared to the same quarter last year. Equities analysts anticipate that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were paid a $0.23 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.95%. Lam Research's payout ratio is 25.63%.

Wall Street Analyst Weigh In

LRCX has been the topic of a number of recent research reports. Oppenheimer restated an "outperform" rating and issued a $110.00 price target (up from $80.00) on shares of Lam Research in a research report on Tuesday, June 17th. Cantor Fitzgerald restated an "overweight" rating and set a $115.00 price objective (up previously from $90.00) on shares of Lam Research in a research report on Tuesday, June 24th. UBS Group increased their target price on Lam Research from $95.00 to $120.00 and gave the stock a "buy" rating in a research report on Monday. Barclays reduced their price target on shares of Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Finally, TD Securities cut their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $100.57.

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.