Skandinaviska Enskilda Banken AB publ Boosts Holdings in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Skandinaviska Enskilda Banken AB increased its holdings in Lam Research Corporation by 4.6%, owning nearly 697,000 shares valued at approximately $50.67 million as of the most recent SEC filing.
• Other hedge funds, such as Phoenix Financial Ltd., have made significant investments in Lam Research, with Phoenix increasing its stake by 1,387.8% during the same period.
• Analysts have a consensus rating of "Moderate Buy" for Lam Research, with target prices varying from $70 to $115, indicating strong investor confidence in the stock's future performance.

Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 4.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 696,986 shares of the semiconductor company's stock after purchasing an additional 30,916 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.05% of Lam Research worth $50,671,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Phoenix Financial Ltd. increased its holdings in Lam Research by 1,387.8% during the 1st quarter. Phoenix Financial Ltd. now owns 251,477 shares of the semiconductor company's stock valued at $18,333,000 after acquiring an additional 234,574 shares in the last quarter. Prescott Group Capital Management L.L.C. purchased a new stake in Lam Research in the first quarter valued at approximately $260,000. Equitable Trust Co. lifted its position in Lam Research by 11.5% during the first quarter. Equitable Trust Co. now owns 4,574 shares of the semiconductor company's stock valued at $333,000 after buying an additional 471 shares in the last quarter. Drive Wealth Management LLC bought a new stake in shares of Lam Research in the first quarter worth $213,000. Finally, Pacer Advisors Inc. increased its stake in shares of Lam Research by 9.2% in the first quarter. Pacer Advisors Inc. now owns 221,015 shares of the semiconductor company's stock worth $16,068,000 after buying an additional 18,655 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on LRCX. Cantor Fitzgerald reiterated an "overweight" rating and set a $115.00 target price (up previously from $90.00) on shares of Lam Research in a research note on Tuesday, June 24th. Jefferies Financial Group boosted their price objective on Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. Deutsche Bank Aktiengesellschaft set a $70.00 target price on shares of Lam Research and gave the company a "hold" rating in a research report on Thursday, April 24th. Oppenheimer reissued an "outperform" rating and issued a $110.00 price target (up from $80.00) on shares of Lam Research in a report on Tuesday, June 17th. Finally, The Goldman Sachs Group started coverage on shares of Lam Research in a report on Thursday, July 10th. They issued a "buy" rating and a $115.00 price target for the company. 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. Based on data from MarketBeat.com, Lam Research has a consensus rating of "Moderate Buy" and an average price target of $100.57.

Lam Research Stock Up 0.7%

Shares of LRCX stock opened at $97.78 on Friday. The stock has a market cap of $125.07 billion, a P/E ratio of 27.25, a price-to-earnings-growth ratio of 1.37 and a beta of 1.68. The stock has a fifty day moving average price of $92.24 and a 200 day moving average price of $81.49. Lam Research Corporation has a one year low of $56.32 and a one year high of $102.59. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The company had revenue of $4.72 billion during the quarter, compared to analysts' expectations of $4.64 billion. During the same period last year, the business earned $7.79 earnings per share. The business's revenue was up 24.4% on a year-over-year basis. Analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.94%. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

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.

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