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

KLP Kapitalforvaltning AS acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 637,980 shares of the semiconductor company’s stock, valued at approximately $46,206,000.

Other hedge funds also recently added to or reduced their stakes in the company. Insight Wealth Partners LLC acquired a new stake in Lam Research during the 3rd quarter worth approximately $202,000. B&L Asset Management LLC acquired a new stake in Lam Research during the 3rd quarter worth approximately $204,000. Dynamic Technology Lab Private Ltd acquired a new stake in Lam Research during the 3rd quarter worth approximately $220,000. Concorde Asset Management LLC acquired a new stake in Lam Research during the 3rd quarter worth approximately $242,000. Finally, Virtus Investment Advisers Inc. acquired a new stake in Lam Research during the 3rd quarter worth approximately $245,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LRCX shares. The Goldman Sachs Group reduced their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Wells Fargo & Company raised their price objective on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Morgan Stanley raised their price objective on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Finally, KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus price target of $98.06.

Lam Research Stock Performance

NASDAQ:LRCX opened at $75.84 on Friday. The firm has a 50 day simple moving average of $79.62 and a 200-day simple moving average of $77.32. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The firm has a market cap of $97.35 billion, a PE ratio of 23.04, a P/E/G ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.21%. Lam Research’s payout ratio 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 that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is 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.