Skandinaviska Enskilda Banken AB publ Has $129.29 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

Skandinaviska Enskilda Banken AB publ lowered its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 1.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 121,535 shares of the semiconductor company's stock after selling 1,519 shares during the quarter. Lam Research makes up approximately 0.6% of Skandinaviska Enskilda Banken AB publ's holdings, making the stock its 29th biggest holding. Skandinaviska Enskilda Banken AB publ owned about 0.09% of Lam Research worth $129,294,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LRCX. Cypress Capital Group lifted its position in Lam Research by 23.1% during the 2nd quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company's stock valued at $3,757,000 after purchasing an additional 661 shares during the period. Meeder Advisory Services Inc. grew its holdings in Lam Research by 29.4% during the 2nd quarter. Meeder Advisory Services Inc. now owns 3,022 shares of the semiconductor company's stock worth $3,218,000 after acquiring an additional 686 shares during the period. Brookstone Capital Management grew its holdings in Lam Research by 142.6% during the 2nd quarter. Brookstone Capital Management now owns 1,601 shares of the semiconductor company's stock worth $1,705,000 after acquiring an additional 941 shares during the period. FineMark National Bank & Trust raised its position in shares of Lam Research by 14.5% during the 2nd quarter. FineMark National Bank & Trust now owns 474 shares of the semiconductor company's stock valued at $505,000 after acquiring an additional 60 shares during the last quarter. Finally, Foundations Investment Advisors LLC lifted its stake in shares of Lam Research by 534.3% in the 2nd quarter. Foundations Investment Advisors LLC now owns 5,569 shares of the semiconductor company's stock valued at $5,930,000 after purchasing an additional 4,691 shares during the period. 84.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. UBS Group dropped their price objective on Lam Research from $1,250.00 to $1,150.00 and set a "buy" rating for the company in a report on Thursday, September 12th. Barclays increased their price target on shares of Lam Research from $865.00 to $900.00 and gave the company an "equal weight" rating in a research report on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Lam Research from $1,100.00 to $950.00 and set a "buy" rating for the company in a report on Thursday, August 1st. Needham & Company LLC reissued a "buy" rating and set a $1,130.00 price target on shares of Lam Research in a research report on Thursday, August 1st. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $1,200.00 price target on shares of Lam Research in a report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Lam Research currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,013.37.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $789.07 on Friday. The stock has a market capitalization of $103.16 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48. Lam Research Co. has a 52 week low of $574.42 and a 52 week high of $1,130.00. The stock has a 50 day moving average price of $842.35 and a 200 day moving average price of $927.21. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97.

Lam Research shares are going to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be distributed to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.58 by $0.56. The business had revenue of $3.87 billion during the quarter, compared to analysts' expectations of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm's quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the company earned $5.98 EPS. Analysts predict that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be given a dividend of $2.30 per share. The ex-dividend date is Tuesday, September 17th. This represents a $9.20 dividend on an annualized basis and a yield of 1.17%. This is a positive change from Lam Research's previous quarterly dividend of $2.00. Lam Research's payout ratio is currently 33.84%.

Insiders Place Their Bets

In related news, SVP Neil J. Fernandes sold 1,620 shares of the firm's stock in a transaction on Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the completion of the transaction, the senior vice president now directly owns 5,237 shares of the company's stock, valued at approximately $5,535,456.63. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Neil J. Fernandes sold 1,620 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the completion of the sale, the senior vice president now directly owns 5,237 shares in the company, valued at $5,535,456.63. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Neil J. Fernandes sold 4,409 shares of the company's stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the sale, the senior vice president now owns 6,857 shares in the company, valued at approximately $7,239,346.32. The disclosure for this sale can be found here. Insiders have sold 16,326 shares of company stock valued at $17,383,715 in the last ninety days. 0.32% of the stock is currently owned by insiders.

Lam Research Profile

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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