AMF Pensionsforsakring AB grew its position in shares of Lam Research (NASDAQ:LRCX) by 8.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 280,421 shares of the semiconductor company’s stock after purchasing an additional 21,073 shares during the quarter. AMF Pensionsforsakring AB owned approximately 0.17% of Lam Research worth $56,970,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of LRCX. Harvest Fund Management Co. Ltd purchased a new stake in Lam Research in the 1st quarter worth $116,000. Northwestern Mutual Wealth Management Co. increased its holdings in Lam Research by 144.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock worth $122,000 after acquiring an additional 392 shares in the last quarter. Psagot Investment House Ltd. increased its holdings in Lam Research by 200.0% in the 1st quarter. Psagot Investment House Ltd. now owns 600 shares of the semiconductor company’s stock worth $122,000 after acquiring an additional 400 shares in the last quarter. Field & Main Bank increased its holdings in Lam Research by 127.3% in the 1st quarter. Field & Main Bank now owns 625 shares of the semiconductor company’s stock worth $127,000 after acquiring an additional 350 shares in the last quarter. Finally, Focused Wealth Management Inc purchased a new stake in Lam Research in the 4th quarter worth $140,000. 88.24% of the stock is owned by hedge funds and other institutional investors.
Shares of LRCX opened at $202.98 on Wednesday. Lam Research has a 52-week low of $139.24 and a 52-week high of $234.88. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.21 and a current ratio of 2.64. The firm has a market cap of $32.07 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 0.63 and a beta of 1.41.
Lam Research (NASDAQ:LRCX) last announced its earnings results on Tuesday, April 17th. The semiconductor company reported $4.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.38 by $0.41. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Lam Research had a net margin of 18.32% and a return on equity of 41.13%. The firm’s quarterly revenue was up 34.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.10 EPS. analysts forecast that Lam Research will post 17.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 27th. Stockholders of record on Wednesday, June 6th will be given a dividend of $1.10 per share. This is a boost from Lam Research’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, June 5th. This represents a $4.40 annualized dividend and a dividend yield of 2.17%. Lam Research’s payout ratio is presently 20.04%.
Lam Research declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, March 6th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to buy shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Several equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of Lam Research from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Cowen assumed coverage on shares of Lam Research in a report on Tuesday, May 15th. They issued an “outperform” rating and a $285.00 price target for the company. Citigroup raised shares of Lam Research from a “neutral” rating to a “buy” rating and cut their price target for the stock from $234.88 to $200.00 in a report on Monday, May 14th. ValuEngine lowered shares of Lam Research from a “buy” rating to a “hold” rating in a report on Thursday, April 19th. Finally, Argus reissued a “buy” rating and issued a $203.77 price target (down previously from $235.00) on shares of Lam Research in a report on Thursday, April 19th. Three research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $257.06.
In other news, SVP Sarah A. O’dowd sold 1,835 shares of the business’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $212.64, for a total transaction of $390,194.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Richard A. Gottscho sold 16,866 shares of the business’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $210.02, for a total transaction of $3,542,197.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,148 shares of company stock worth $16,952,340. Corporate insiders own 0.41% of the company’s stock.
Lam Research Profile
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers thin film deposition products, including SABRE electrochemical deposition products for copper damascene manufacturing; ALTUS systems to deposit conformal atomic layer films for tungsten metallization applications; VECTOR plasma-enhanced chemical vapor deposition (CVD) and atomic layer deposition systems to deposit oxides, nitrides, and carbides for hardmasks, multiple patterning films, anti-reflective layers, multi-layer stack films, and diffusion barriers; and Striker atomic layer deposition systems that deliver conformal dielectric films for spacer-based patterning and liner applications in various advanced memory and logic structures.
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