Boston Partners Sells 51,679 Shares of Lam Research Co. (NASDAQ:LRCX)

Boston Partners cut its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 68.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,321 shares of the semiconductor company's stock after selling 51,679 shares during the quarter. Boston Partners' holdings in Lam Research were worth $1,793,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Fisher Asset Management LLC boosted its holdings in shares of Lam Research by 892.7% during the fourth quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company's stock worth $1,341,902,000 after acquiring an additional 16,706,708 shares during the period. Amundi lifted its holdings in Lam Research by 7,601.9% during the 4th quarter. Amundi now owns 12,945,172 shares of the semiconductor company's stock worth $990,464,000 after purchasing an additional 12,777,094 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Lam Research by 860.4% in the 4th quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company's stock valued at $851,361,000 after purchasing an additional 10,559,508 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Lam Research by 931.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,482,429 shares of the semiconductor company's stock valued at $612,686,000 after buying an additional 7,659,830 shares in the last quarter. Finally, Swiss National Bank increased its position in Lam Research by 843.4% during the 4th quarter. Swiss National Bank now owns 3,661,500 shares of the semiconductor company's stock worth $264,470,000 after buying an additional 3,273,400 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Remove Ads

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were 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 directly owns 179,084 shares of the company's stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several recent research reports. KeyCorp upgraded 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. Mizuho raised their price objective on Lam Research from $87.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Wolfe Research cut shares of Lam Research from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 15th. 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 research report on Thursday, December 5th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $100.00 price target on shares of Lam Research in a research report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $98.06.

Lam Research Stock Performance

LRCX traded down $1.53 during midday trading on Wednesday, reaching $76.14. The company had a trading volume of 7,324,964 shares, compared to its average volume of 11,048,814. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The business has a 50-day moving average price of $79.75 and a two-hundred day moving average price of $77.31. The stock has a market cap of $97.74 billion, a PE ratio of 23.13, a P/E/G ratio of 1.47 and a beta of 1.53. 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 - Get Free Report) last released 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 return on equity of 51.86% and a net margin of 26.49%. On average, sell-side analysts expect that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.21%. Lam Research's dividend payout ratio (DPR) is 27.96%.

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.