Forsta AP Fonden Invests $29.76 Million in Lam Research Co. (NASDAQ:LRCX)

Forsta AP Fonden purchased a new position in Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, HoldingsChannel reports. The fund purchased 412,000 shares of the semiconductor company’s stock, valued at approximately $29,759,000.

Other hedge funds also recently bought and sold shares of the company. Sunbelt Securities Inc. raised its stake in shares of Lam Research by 3.9% in the second quarter. Sunbelt Securities Inc. now owns 1,533 shares of the semiconductor company’s stock worth $1,633,000 after purchasing an additional 58 shares during the last quarter. Quarry LP increased its holdings in Lam Research by 175.0% in the 2nd quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock worth $94,000 after buying an additional 56 shares in the last quarter. Advisory Alpha LLC purchased a new position in Lam Research in the 2nd quarter worth about $256,000. 3Chopt Investment Partners LLC bought a new position in Lam Research during the 2nd quarter valued at about $1,105,000. Finally, Cetera Investment Advisers boosted its holdings in shares of Lam Research by 2.1% during the 2nd quarter. Cetera Investment Advisers now owns 28,382 shares of the semiconductor company’s stock valued at $30,224,000 after acquiring an additional 585 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LRCX. The Goldman Sachs Group lowered their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Sanford C. Bernstein cut their price objective on Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a report on Friday, November 29th. Morgan Stanley increased their target price on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Finally, Stifel Nicolaus restated a “buy” rating and set a $100.00 price target (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $95.77.

Lam Research Trading Down 1.5 %

LRCX stock opened at $74.51 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The business has a 50 day simple moving average of $75.62 and a two-hundred day simple moving average of $79.15. The company has a market capitalization of $95.87 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 1.53 and a beta of 1.45.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.23%. Lam Research’s payout ratio is 29.74%.

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.