637,980 Shares in Lam Research Co. (NASDAQ:LRCX) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new position in Lam Research Co. (NASDAQ:LRCX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 637,980 shares of the semiconductor company's stock, valued at approximately $46,206,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC increased its holdings in Lam Research by 892.7% in the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company's stock valued at $1,341,902,000 after acquiring an additional 16,706,708 shares during the last quarter. Amundi increased its holdings in shares of Lam Research by 7,601.9% in the fourth quarter. Amundi now owns 12,945,172 shares of the semiconductor company's stock worth $990,464,000 after purchasing an additional 12,777,094 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Lam Research by 860.4% in the fourth quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company's stock worth $851,361,000 after buying an additional 10,559,508 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Lam Research by 931.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,482,429 shares of the semiconductor company's stock valued at $612,686,000 after buying an additional 7,659,830 shares during the last quarter. Finally, State Street Corp grew its holdings in Lam Research by 1.6% during the 3rd quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company's stock valued at $4,817,113,000 after buying an additional 94,086 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Remove Ads

Lam Research Stock Down 0.3 %

NASDAQ LRCX traded down $0.20 on Tuesday, reaching $77.80. 2,308,770 shares of the stock traded hands, compared to its average volume of 11,069,593. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The company has a market cap of $99.86 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 1.47 and a beta of 1.53. The company has a fifty day moving average price of $79.70 and a 200-day moving average price of $77.30. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, research analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research's dividend payout ratio (DPR) is 27.96%.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Mizuho upped their price objective on Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Oppenheimer started coverage on shares of Lam Research in a research report on Thursday, March 20th. They set an "outperform" rating and a $95.00 price objective for the company. Susquehanna upgraded shares of Lam Research from a "neutral" rating to a "positive" rating and boosted their target price for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. The Goldman Sachs Group lowered their price target on shares of Lam Research from $96.00 to $85.00 and set a "buy" rating for the company in a report on Friday, January 10th. Finally, Barclays cut their target price on Lam Research from $90.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $98.06.

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.