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

Russell Investments Group Ltd. grew its position in Lam Research Co. (NASDAQ:LRCX) by 1,141.3% in the fourth quarter, according to its most recent filing with the SEC. The fund 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.’s holdings in Lam Research were worth $148,687,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of LRCX. Royal London Asset Management Ltd. raised its stake in shares of Lam Research by 3.0% during the third quarter. Royal London Asset Management Ltd. now owns 65,282 shares of the semiconductor company’s stock valued at $53,275,000 after acquiring an additional 1,884 shares during the last quarter. Quantinno Capital Management LP raised its position in Lam Research by 39.5% during the 3rd quarter. Quantinno Capital Management LP now owns 11,137 shares of the semiconductor company’s stock worth $9,089,000 after purchasing an additional 3,152 shares during the last quarter. Stevens Capital Management LP lifted its holdings in Lam Research by 112.4% during the 3rd quarter. Stevens Capital Management LP now owns 427 shares of the semiconductor company’s stock worth $348,000 after buying an additional 226 shares during the period. Texas Capital Bank Wealth Management Services Inc grew its position in shares of Lam Research by 2.6% in the 3rd quarter. Texas Capital Bank Wealth Management Services Inc now owns 9,911 shares of the semiconductor company’s stock valued at $8,088,000 after buying an additional 255 shares during the last quarter. Finally, Two Sigma Advisers LP increased its stake in shares of Lam Research by 215.4% in the third quarter. Two Sigma Advisers LP now owns 341,900 shares of the semiconductor company’s stock valued at $279,018,000 after buying an additional 233,500 shares during the period. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the topic of a number of recent analyst reports. Mizuho lifted their price objective on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Wells Fargo & Company boosted their price target on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Barclays lowered their target price on shares of 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 price target on shares of Lam Research in a research report on Tuesday, February 18th. Finally, KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research note on Friday, January 17th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.59.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $59.09 on Friday. Lam Research Co. has a fifty-two week low of $57.97 and a fifty-two week high of $113.00. The company’s 50-day moving average is $78.26 and its 200 day 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 company has a market capitalization 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 (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating the consensus estimate 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, equities research 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 declared 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. This represents a $0.92 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is currently 27.96%.

Insider Buying and Selling 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 shares were sold at an average price of $90.00, for a total transaction 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 approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

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.