Handelsbanken Fonder AB Boosts Position in Lam Research Co. (NASDAQ:LRCX)

Handelsbanken Fonder AB boosted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 6.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 53,949 shares of the semiconductor company’s stock after buying an additional 3,377 shares during the quarter. Handelsbanken Fonder AB’s holdings in Lam Research were worth $42,256,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Valued Wealth Advisors LLC acquired a new stake in Lam Research in the 4th quarter valued at $30,000. Orion Capital Management LLC purchased a new position in Lam Research in the 3rd quarter valued at $25,000. BluePath Capital Management LLC purchased a new position in Lam Research in the 3rd quarter valued at $28,000. Asset Dedication LLC lifted its holdings in Lam Research by 56.7% in the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 17 shares in the last quarter. Finally, Rakuten Securities Inc. purchased a new position in Lam Research in the 4th quarter valued at $38,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lam Research news, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the sale, the chief accounting officer now owns 5,541 shares in the company, valued at $5,386,018.23. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Insiders sold 7,029 shares of company stock valued at $6,559,489 over the last three months. 0.32% of the stock is owned by corporate insiders.

Lam Research Stock Performance

Shares of Lam Research stock opened at $870.25 on Monday. Lam Research Co. has a one year low of $493.42 and a one year high of $1,007.39. The company has a market cap of $114.09 billion, a PE ratio of 33.65, a P/E/G ratio of 3.15 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The business has a 50-day simple moving average of $945.44 and a 200-day simple moving average of $802.29.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, topping analysts’ consensus estimates of $7.06 by $0.46. The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The business’s revenue for the quarter was down 28.8% on a year-over-year basis. During the same period in the previous year, the company posted $10.71 earnings per share. On average, equities research analysts forecast that Lam Research Co. will post 28.92 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is 30.94%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Mizuho lifted their price target on Lam Research from $900.00 to $935.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Citigroup lifted their price target on Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. TD Cowen lifted their price target on Lam Research from $710.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. B. Riley upgraded Lam Research from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $870.00 to $1,100.00 in a report on Friday. Finally, Needham & Company LLC boosted their price objective on shares of Lam Research from $900.00 to $1,030.00 and gave the company a “buy” rating in a report on Thursday. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $931.85.

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.