Handelsbanken Fonder AB Has $45.52 Million Position in Lam Research Co. (NASDAQ:LRCX)

Handelsbanken Fonder AB increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 55,776 shares of the semiconductor company’s stock after purchasing an additional 765 shares during the period. Handelsbanken Fonder AB’s holdings in Lam Research were worth $45,518,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Lam Research in the second quarter valued at approximately $32,000. RFP Financial Group LLC boosted its holdings in Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares during the period. Raleigh Capital Management Inc. grew its position in Lam Research by 78.6% in the 4th quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 22 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Lam Research during the 2nd quarter worth about $40,000. Finally, Country Trust Bank acquired a new position in shares of Lam Research during the second quarter valued at about $43,000. Institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wells Fargo & Company lowered their price target on Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating on the stock in a research note on Thursday. Mizuho lowered their price objective on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. B. Riley raised their target price on Lam Research from $113.00 to $132.50 and gave the stock a “buy” rating in a research report on Thursday, June 20th. StockNews.com raised shares of Lam Research from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Morgan Stanley reduced their price objective on shares of Lam Research from $92.90 to $77.40 and set an “equal weight” rating for the company in a report on Tuesday, September 17th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $141.28.

Lam Research Price Performance

Shares of LRCX stock traded up $0.43 during trading hours on Friday, reaching $81.54. 7,589,684 shares of the company were exchanged, compared to its average volume of 11,054,300. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The company has a market cap of $10.66 billion, a price-to-earnings ratio of 3.00, a P/E/G ratio of 1.51 and a beta of 1.47. The stock’s fifty day moving average is $95.29 and its two-hundred day moving average is $96.75. Lam Research Co. has a fifty-two week low of $57.44 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.05. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period last year, the company earned $0.60 EPS. Sell-side analysts forecast that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.13%. Lam Research’s payout ratio is presently 33.84%.

Insider Buying and Selling at Lam Research

In related news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Neil J. Fernandes sold 16,200 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $105.70, for a total value of $1,712,323.80. Following the completion of the sale, the senior vice president now owns 52,370 shares of the company’s stock, valued at $5,535,456.63. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

Lam Research Company 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.