Tredje AP fonden reduced its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 19.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 18,706 shares of the company’s stock after selling 4,506 shares during the period. Tredje AP fonden’s holdings in Lam Research Corporation were worth $1,986,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Investment Management LLC increased its position in Lam Research Corporation by 209.6% in the second quarter. BlackRock Investment Management LLC now owns 1,093,309 shares of the company’s stock valued at $91,904,000 after buying an additional 740,148 shares in the last quarter. CFO4Life L.P. increased its position in Lam Research Corporation by 9.7% in the second quarter. CFO4Life L.P. now owns 6,719 shares of the company’s stock valued at $565,000 after buying an additional 592 shares in the last quarter. Scout Investments Inc. increased its position in Lam Research Corporation by 2.2% in the second quarter. Scout Investments Inc. now owns 208,091 shares of the company’s stock valued at $17,492,000 after buying an additional 4,426 shares in the last quarter. KLCM Advisors Inc. purchased a new position in Lam Research Corporation during the second quarter valued at $783,000. Finally, GMT Capital Corp increased its position in Lam Research Corporation by 185.7% in the second quarter. GMT Capital Corp now owns 815,600 shares of the company’s stock valued at $68,559,000 after buying an additional 530,100 shares in the last quarter.
Lam Research Corporation (NASDAQ:LRCX) traded down 0.24% during midday trading on Friday, reaching $114.30. The company had a trading volume of 480,506 shares. Lam Research Corporation has a 12 month low of $68.19 and a 12 month high of $119.14. The firm has a market capitalization of $18.61 billion, a PE ratio of 20.49 and a beta of 1.44. The firm’s 50-day moving average price is $112.82 and its 200 day moving average price is $101.32.
Lam Research Corporation (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 25th. The company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.05. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.84 billion. Lam Research Corporation had a return on equity of 19.95% and a net margin of 15.67%. The company’s quarterly revenue was up 32.0% compared to the same quarter last year. During the same period last year, the business posted $1.57 EPS. Equities analysts anticipate that Lam Research Corporation will post $9.23 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 29th. Stockholders of record on Wednesday, March 8th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Monday, March 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.57%. Lam Research Corporation’s dividend payout ratio (DPR) is 32.37%.
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Several equities analysts have weighed in on the company. B. Riley reaffirmed a “buy” rating and issued a $150.00 target price on shares of Lam Research Corporation in a research report on Saturday, January 28th. Susquehanna Bancshares Inc lifted their target price on Lam Research Corporation from $92.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, January 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 target price (up from $135.00) on shares of Lam Research Corporation in a research report on Thursday, January 26th. Citigroup Inc. reaffirmed a “buy” rating on shares of Lam Research Corporation in a research report on Wednesday, January 25th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $125.00 target price (up from $105.00) on shares of Lam Research Corporation in a research report on Tuesday, January 24th. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Lam Research Corporation has an average rating of “Buy” and a consensus price target of $119.18.
In other news, insider Martin B. Anstice sold 16,000 shares of the stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $100.54, for a total value of $1,608,640.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Timothy Archer sold 20,000 shares of the stock in a transaction dated Tuesday, February 14th. The shares were sold at an average price of $115.62, for a total value of $2,312,400.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 121,752 shares of company stock worth $13,405,808. Company insiders own 0.46% of the company’s stock.
About Lam Research Corporation
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.
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