Lam Research Co. (NASDAQ:LRCX) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd trimmed its position in shares of Lam Research Co. (NASDAQ:LRCX) by 31.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 300,722 shares of the semiconductor company’s stock after selling 135,011 shares during the period. USS Investment Management Ltd’s holdings in Lam Research were worth $87,933,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Clarius Group LLC grew its holdings in Lam Research by 2.9% during the 4th quarter. Clarius Group LLC now owns 1,406 shares of the semiconductor company’s stock worth $419,000 after acquiring an additional 40 shares in the last quarter. HGK Asset Management Inc. grew its holdings in Lam Research by 1.2% during the 3rd quarter. HGK Asset Management Inc. now owns 3,647 shares of the semiconductor company’s stock worth $553,000 after acquiring an additional 42 shares in the last quarter. MBM Wealth Consultants LLC grew its holdings in Lam Research by 2.0% during the 3rd quarter. MBM Wealth Consultants LLC now owns 2,115 shares of the semiconductor company’s stock worth $489,000 after acquiring an additional 42 shares in the last quarter. First Merchants Corp grew its holdings in Lam Research by 0.4% during the 4th quarter. First Merchants Corp now owns 10,722 shares of the semiconductor company’s stock worth $3,135,000 after acquiring an additional 42 shares in the last quarter. Finally, FTB Advisors Inc. grew its holdings in Lam Research by 20.5% during the 3rd quarter. FTB Advisors Inc. now owns 253 shares of the semiconductor company’s stock worth $58,000 after acquiring an additional 43 shares in the last quarter. 86.91% of the stock is owned by institutional investors and hedge funds.

Several brokerages have weighed in on LRCX. B. Riley raised their price objective on shares of Lam Research from $360.00 to $365.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. KeyCorp raised their price objective on shares of Lam Research from $313.00 to $385.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. BidaskClub raised shares of Lam Research from a “buy” rating to a “strong-buy” rating in a report on Friday, December 13th. DA Davidson raised shares of Lam Research from a “neutral” rating to a “buy” rating and set a $350.00 price objective for the company in a report on Thursday, January 30th. Finally, Morgan Stanley raised their price objective on shares of Lam Research from $287.00 to $314.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Lam Research currently has a consensus rating of “Buy” and a consensus target price of $321.29.

In related news, CEO Timothy Archer sold 10,000 shares of Lam Research stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $270.00, for a total value of $2,700,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mansy Youssef A. El sold 1,010 shares of Lam Research stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $325.11, for a total transaction of $328,361.10. The disclosure for this sale can be found here. Insiders sold a total of 58,622 shares of company stock valued at $17,056,266 over the last ninety days. Company insiders own 0.43% of the company’s stock.

Shares of NASDAQ LRCX traded down $2.25 during midday trading on Friday, hitting $339.33. The company’s stock had a trading volume of 94,397 shares, compared to its average volume of 1,715,910. Lam Research Co. has a 1-year low of $163.60 and a 1-year high of $344.32. The firm’s fifty day moving average price is $304.77 and its 200-day moving average price is $258.79. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.70 and a current ratio of 3.30. The firm has a market cap of $46.55 billion, a P/E ratio of 25.13, a P/E/G ratio of 1.08 and a beta of 1.64.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $4.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.85 by $0.16. Lam Research had a net margin of 21.67% and a return on equity of 45.72%. The business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same period in the previous year, the business posted $3.87 EPS. The company’s quarterly revenue was up 19.3% on a year-over-year basis. As a group, research analysts predict that Lam Research Co. will post 16.82 earnings per share for the current fiscal year.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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