Lam Research Co. (NASDAQ:LRCX) Stake Lowered by Forsta AP Fonden

Posted by George Bondi on Aug 6th, 2022

Forsta AP Fonden trimmed its holdings in Lam Research Co. (NASDAQ:LRCX – Get Rating) by 3.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 34,300 shares of the semiconductor company’s stock after selling 1,100 shares during the quarter. Forsta AP Fonden’s holdings in Lam Research were worth $18,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LRCX. Norges Bank bought a new position in Lam Research in the 4th quarter worth approximately $1,005,096,000. Coatue Management LLC lifted its position in Lam Research by 110.9% in the fourth quarter. Coatue Management LLC now owns 860,025 shares of the semiconductor company’s stock worth $618,487,000 after purchasing an additional 452,154 shares during the period. 1832 Asset Management L.P. lifted its position in Lam Research by 229.7% in the fourth quarter. 1832 Asset Management L.P. now owns 414,564 shares of the semiconductor company’s stock worth $300,852,000 after purchasing an additional 288,808 shares during the period. Theleme Partners LLP acquired a new stake in Lam Research in the fourth quarter worth approximately $154,617,000. Finally, AMF Tjanstepension AB lifted its position in Lam Research by 228.2% in the fourth quarter. AMF Tjanstepension AB now owns 307,731 shares of the semiconductor company’s stock worth $221,365,000 after purchasing an additional 213,973 shares during the period. 82.34% of the stock is owned by institutional investors.

Lam Research Trading Down 2.2 %

NASDAQ LRCX opened at $519.97 on Friday. Lam Research Co. has a 1-year low of $375.87 and a 1-year high of $731.85. The company has a current ratio of 2.69, a quick ratio of 1.82 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $72.13 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 1.20 and a beta of 1.33. The firm’s fifty day simple moving average is $457.55 and its 200-day simple moving average is $501.33.

Lam Research (NASDAQ:LRCX – Get Rating) last posted its quarterly earnings results on Wednesday, July 27th. The semiconductor company reported $8.83 earnings per share for the quarter, topping analysts’ consensus estimates of $7.30 by $1.53. Lam Research had a net margin of 26.73% and a return on equity of 75.71%. The business had revenue of $4.64 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the prior year, the business posted $8.09 earnings per share. Lam Research’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lam Research Co. will post 37.6 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 6th. Stockholders of record on Wednesday, June 15th were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Tuesday, June 14th. Lam Research’s dividend payout ratio (DPR) is presently 18.32%.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on Lam Research from $560.00 to $480.00 in a research report on Monday, July 18th. Wells Fargo & Company upped their target price on Lam Research from $460.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 28th. Jefferies Financial Group cut their target price on Lam Research from $869.00 to $670.00 in a research report on Friday, April 22nd. Cowen cut their price objective on Lam Research from $800.00 to $620.00 in a research report on Thursday, July 28th. Finally, DA Davidson cut their price objective on Lam Research from $575.00 to $550.00 in a research report on Thursday, July 28th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $613.32.

Lam Research Company Profile

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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.