Russell Investments Group Ltd. Sells 1,871 Shares of Lam Research Co. (NASDAQ:LRCX)

Russell Investments Group Ltd. lessened its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,267 shares of the semiconductor company’s stock after selling 1,871 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.12% of Lam Research worth $118,539,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of LRCX. Morgan Stanley boosted its position in shares of Lam Research by 3.2% in the 3rd quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock worth $1,164,490,000 after purchasing an additional 56,824 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Lam Research by 10.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock worth $1,029,386,000 after purchasing an additional 159,815 shares in the last quarter. Northern Trust Corp boosted its position in shares of Lam Research by 9.7% in the 3rd quarter. Northern Trust Corp now owns 1,523,215 shares of the semiconductor company’s stock worth $954,705,000 after purchasing an additional 134,558 shares in the last quarter. WCM Investment Management LLC boosted its position in shares of Lam Research by 0.6% in the 4th quarter. WCM Investment Management LLC now owns 600,594 shares of the semiconductor company’s stock worth $474,271,000 after purchasing an additional 3,717 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Lam Research by 12.0% in the 4th quarter. Nordea Investment Management AB now owns 453,787 shares of the semiconductor company’s stock worth $355,025,000 after purchasing an additional 48,482 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Lam Research in a research report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 price objective for the company. Mizuho raised their target price on Lam Research from $935.00 to $960.00 and gave the stock a “buy” rating in a research note on Thursday. StockNews.com upgraded Lam Research from a “hold” rating to a “buy” rating in a research note on Friday. Evercore ISI assumed coverage on Lam Research in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 target price for the company. Finally, UBS Group raised their target price on Lam Research from $1,130.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Thursday. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $950.85.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the transaction, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the sale, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The disclosure for this sale can be found here. Insiders sold a total of 7,029 shares of company stock worth $6,559,489 in the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Lam Research Price Performance

Shares of Lam Research stock traded up $23.90 on Friday, hitting $925.37. The company’s stock had a trading volume of 1,397,129 shares, compared to its average volume of 1,010,097. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.02 and a current ratio of 2.82. Lam Research Co. has a 1 year low of $493.42 and a 1 year high of $1,007.39. The firm has a fifty day moving average price of $943.67 and a 200-day moving average price of $810.33. The company has a market capitalization of $121.32 billion, a price-to-earnings ratio of 34.03, a price-to-earnings-growth ratio of 3.29 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, beating the consensus estimate of $7.26 by $0.53. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The firm had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the business earned $6.99 EPS. Lam Research’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lam Research Co. will post 29.54 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were paid a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 annualized dividend and a dividend yield of 0.86%. Lam Research’s dividend payout ratio is presently 29.42%.

Lam Research Company 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.