Forsta AP Fonden Has $38.97 Million Stake in Lam Research Co. (NASDAQ:LRCX)

Forsta AP Fonden lowered its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 10.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,600 shares of the semiconductor company’s stock after selling 4,500 shares during the quarter. Forsta AP Fonden’s holdings in Lam Research were worth $38,974,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in LRCX. Jupiter Asset Management Ltd. grew its holdings in shares of Lam Research by 29.8% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 78,634 shares of the semiconductor company’s stock worth $83,733,000 after purchasing an additional 18,061 shares in the last quarter. American Century Companies Inc. grew its stake in Lam Research by 17.5% during the second quarter. American Century Companies Inc. now owns 99,283 shares of the semiconductor company’s stock worth $105,722,000 after buying an additional 14,800 shares in the last quarter. MGO One Seven LLC increased its holdings in Lam Research by 42.6% in the 2nd quarter. MGO One Seven LLC now owns 1,459 shares of the semiconductor company’s stock valued at $1,554,000 after buying an additional 436 shares during the period. Van Hulzen Asset Management LLC raised its position in shares of Lam Research by 0.5% in the 2nd quarter. Van Hulzen Asset Management LLC now owns 5,607 shares of the semiconductor company’s stock valued at $5,971,000 after buying an additional 30 shares in the last quarter. Finally, Andra AP fonden lifted its holdings in shares of Lam Research by 19.6% during the 2nd quarter. Andra AP fonden now owns 28,100 shares of the semiconductor company’s stock worth $29,922,000 after acquiring an additional 4,600 shares during the period. Institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total value of $687,282.22. Following the completion of the transaction, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at approximately $5,219,945.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Lam Research news, CEO Timothy Archer sold 9,650 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the transaction, the chief executive officer now directly owns 84,639 shares in the company, valued at approximately $90,596,739.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the completion of the sale, the chief accounting officer now owns 4,914 shares of the company’s stock, valued at approximately $5,219,945.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,326 shares of company stock valued at $17,383,715. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Citigroup decreased their price target on Lam Research from $1,025.00 to $990.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft dropped their price objective on Lam Research from $1,100.00 to $950.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. TD Cowen lifted their target price on Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, B. Riley increased their target price on shares of Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average target price of $1,006.10.

Lam Research Stock Up 4.8 %

Shares of LRCX opened at $766.85 on Thursday. The stock’s 50-day moving average price is $882.05 and its two-hundred day moving average price is $934.57. Lam Research Co. has a 12 month low of $574.42 and a 12 month high of $1,130.00. The company has a market capitalization of $100.26 billion, a PE ratio of 28.20, a PEG ratio of 1.41 and a beta of 1.48. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52.

Lam Research’s stock is set to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be payable to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, beating the consensus estimate of $7.58 by $0.56. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the prior year, the business posted $5.98 earnings per share. The firm’s revenue was up 20.7% on a year-over-year basis. On average, analysts anticipate that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research announced that its board has authorized a stock repurchase plan on Tuesday, May 21st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Lam Research Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be issued a $2.30 dividend. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $9.20 annualized dividend and a yield of 1.20%. Lam Research’s payout ratio is presently 33.84%.

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.