Arrowstreet Capital Limited Partnership Sells 395,399 Shares of Lam Research Co. (NASDAQ:LRCX)

Arrowstreet Capital Limited Partnership decreased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 62.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 236,860 shares of the semiconductor company’s stock after selling 395,399 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Lam Research were worth $17,108,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of LRCX. Vanguard Group Inc. boosted its position in shares of Lam Research by 892.7% during the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock worth $8,724,498,000 after purchasing an additional 108,619,564 shares in the last quarter. Norges Bank bought a new stake in Lam Research during the 4th quarter worth approximately $1,661,672,000. Fisher Asset Management LLC boosted its holdings in shares of Lam Research by 892.7% in the fourth quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock valued at $1,341,902,000 after buying an additional 16,706,708 shares during the period. Amundi increased its position in shares of Lam Research by 7,601.9% during the fourth quarter. Amundi now owns 12,945,172 shares of the semiconductor company’s stock worth $990,464,000 after acquiring an additional 12,777,094 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Lam Research by 860.4% during the fourth quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock worth $851,361,000 after acquiring an additional 10,559,508 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LRCX. The Goldman Sachs Group dropped their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 target price on shares of Lam Research in a research note on Tuesday, February 18th. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research note on Friday, January 17th. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Finally, Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and raised their target price for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.59.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.29% of the stock is currently owned by corporate insiders.

Lam Research Stock Down 9.4 %

Shares of LRCX opened at $59.09 on Friday. The firm’s 50-day simple moving average is $78.26 and its 200 day simple moving average is $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. The firm has a market cap of $75.85 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 52 week low of $57.97 and a 52 week high of $113.00.

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

Lam Research Dividend Announcement

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

About Lam Research

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.