Russell Investments Group Ltd. Has $148.69 Million Stake in Lam Research Co. (NASDAQ:LRCX)

Russell Investments Group Ltd. increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1,141.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,058,641 shares of the semiconductor company’s stock after acquiring an additional 1,892,798 shares during the period. Russell Investments Group Ltd. owned about 0.16% of Lam Research worth $148,687,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LRCX. Wedbush Securities Inc. lifted its holdings in Lam Research by 1,421.8% during the 4th quarter. Wedbush Securities Inc. now owns 16,512 shares of the semiconductor company’s stock valued at $1,193,000 after purchasing an additional 15,427 shares during the last quarter. Envestnet Asset Management Inc. bought a new position in shares of Lam Research in the fourth quarter valued at approximately $207,419,000. Perennial Investment Advisors LLC grew its position in Lam Research by 869.2% during the 4th quarter. Perennial Investment Advisors LLC now owns 7,880 shares of the semiconductor company’s stock worth $569,000 after acquiring an additional 7,067 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its position in Lam Research by 900.0% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 8,097,665 shares of the semiconductor company’s stock valued at $584,894,000 after purchasing an additional 7,287,866 shares during the last quarter. Finally, Aviva PLC grew its holdings in shares of Lam Research by 881.5% during the fourth quarter. Aviva PLC now owns 862,455 shares of the semiconductor company’s stock worth $62,295,000 after purchasing an additional 774,587 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Trading Down 9.4 %

Lam Research stock opened at $59.09 on Friday. Lam Research Co. has a 52 week low of $57.97 and a 52 week high of $113.00. The stock has a market capitalization of $75.85 billion, a P/E ratio of 17.95, a PEG ratio of 1.47 and a beta of 1.53. The stock has a 50-day simple moving average of $78.26 and a 200 day simple moving average of $77.07. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.96%.

Insiders Place Their Bets

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the transaction, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on LRCX. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research note on Friday, January 17th. Wells Fargo & Company raised their target price on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Lam Research in a research note on Thursday, January 30th. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and increased their price target for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Finally, Barclays decreased their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $97.59.

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.