Handelsbanken Fonder AB Sells 23,232 Shares of Lam Research Co. (NASDAQ:LRCX)

Handelsbanken Fonder AB cut its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 3.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 582,137 shares of the semiconductor company's stock after selling 23,232 shares during the quarter. Handelsbanken Fonder AB's holdings in Lam Research were worth $42,321,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in LRCX. Legacy Wealth Asset Management LLC grew its holdings in Lam Research by 1.9% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 13,243 shares of the semiconductor company's stock worth $963,000 after buying an additional 248 shares in the last quarter. Walker Asset Management LLC grew its holdings in Lam Research by 7.8% in the 1st quarter. Walker Asset Management LLC now owns 3,862 shares of the semiconductor company's stock worth $281,000 after buying an additional 281 shares in the last quarter. Paladin Wealth LLC grew its holdings in Lam Research by 4.0% in the 1st quarter. Paladin Wealth LLC now owns 7,489 shares of the semiconductor company's stock worth $544,000 after buying an additional 289 shares in the last quarter. Fairway Wealth LLC grew its holdings in Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after buying an additional 306 shares in the last quarter. Finally, Financial Perspectives Inc grew its holdings in Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after buying an additional 309 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Up 0.8%

LRCX traded up $0.71 during trading on Thursday, hitting $91.66. The company had a trading volume of 5,986,149 shares, compared to its average volume of 12,275,441. The company has a market capitalization of $117.24 billion, a PE ratio of 27.84, a PEG ratio of 1.47 and a beta of 1.65. Lam Research Co. has a one year low of $56.32 and a one year high of $113.00. The firm's 50-day moving average price is $76.55 and its 200 day moving average price is $76.85. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The business had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. During the same period in the previous year, the firm posted $7.79 EPS. The firm's revenue was up 24.4% compared to the same quarter last year. As a group, equities analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's dividend payout ratio is currently 25.63%.

Analysts Set New Price Targets

LRCX has been the subject of a number of recent analyst reports. Evercore ISI increased their price objective on Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Morgan Stanley upped their target price on Lam Research from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. TD Securities cut their target price on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. TD Cowen cut their target price on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, Jefferies Financial Group upped their target price on Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $90.87.

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.