Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 37.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,865 shares of the semiconductor company’s stock after purchasing an additional 2,150 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Lam Research were worth $6,418,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LRCX. Symmetry Investments LP bought a new position in Lam Research in the second quarter worth about $3,229,000. Brown Financial Advisors acquired a new stake in shares of Lam Research during the 2nd quarter worth approximately $1,489,000. Wedmont Private Capital lifted its holdings in shares of Lam Research by 893.3% in the 3rd quarter. Wedmont Private Capital now owns 14,522 shares of the semiconductor company’s stock worth $11,851,000 after purchasing an additional 13,060 shares during the last quarter. 3Chopt Investment Partners LLC acquired a new position in Lam Research during the 2nd quarter valued at approximately $1,105,000. Finally, Cypress Capital Group grew its stake in Lam Research by 23.1% during the 2nd quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company’s stock worth $3,757,000 after buying an additional 661 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LRCX shares. B. Riley boosted their price target on shares of Lam Research from $113.00 to $132.50 and gave the company a “buy” rating in a report on Thursday, June 20th. Citigroup reduced their target price on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. Cantor Fitzgerald reduced their price objective on Lam Research from $120.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, September 30th. StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Mizuho decreased their price target on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $141.28.

Lam Research Stock Up 1.0 %

Shares of Lam Research stock opened at $82.89 on Friday. The firm has a market cap of $10.84 billion, a price-to-earnings ratio of 3.05, a P/E/G ratio of 1.75 and a beta of 1.47. The stock has a 50-day simple moving average of $94.96 and a 200-day simple moving average of $96.23. Lam Research Co. has a 52-week low of $57.44 and a 52-week high of $113.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the previous year, the company earned $0.60 earnings per share. The company’s revenue was up 20.7% compared to the same quarter last year. On average, equities research analysts expect that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 annualized dividend and a yield of 1.11%. Lam Research’s dividend payout ratio (DPR) is currently 3.38%.

Insiders Place Their Bets

In other news, CAO Christina Correia sold 647 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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.