Artemis Investment Management LLP decreased its position in Lam Research Co. (NASDAQ:LRCX) by 28.4% in the fourth quarter, Holdings Channel reports. The firm owned 153,651 shares of the semiconductor company’s stock after selling 61,037 shares during the period. Artemis Investment Management LLP’s holdings in Lam Research were worth $44,910,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LRCX. BlackRock Inc. lifted its holdings in Lam Research by 2.2% during the second quarter. BlackRock Inc. now owns 11,392,897 shares of the semiconductor company’s stock worth $2,140,039,000 after buying an additional 248,314 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of Lam Research by 655.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,502,249 shares of the semiconductor company’s stock valued at $470,022,000 after purchasing an additional 2,171,131 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Lam Research by 20.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,571,906 shares of the semiconductor company’s stock valued at $295,267,000 after purchasing an additional 267,189 shares during the last quarter. UBS Asset Management Americas Inc. lifted its holdings in shares of Lam Research by 17.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,167,270 shares of the semiconductor company’s stock valued at $219,260,000 after purchasing an additional 172,409 shares during the last quarter. Finally, Boston Partners purchased a new stake in shares of Lam Research during the 3rd quarter valued at $194,039,000. Hedge funds and other institutional investors own 86.63% of the company’s stock.

Several brokerages have recently commented on LRCX. ValuEngine lowered Lam Research from a “hold” rating to a “sell” rating in a report on Friday, January 3rd. B. Riley increased their price objective on Lam Research from $240.00 to $280.00 and gave the company a “buy” rating in a report on Monday, October 21st. Needham & Company LLC upped their target price on Lam Research from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Wells Fargo & Co upped their target price on Lam Research from $235.00 to $290.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Finally, Mizuho upped their target price on Lam Research from $194.00 to $225.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $264.79.

LRCX traded up $4.06 during trading on Tuesday, reaching $301.35. The company’s stock had a trading volume of 593,234 shares, compared to its average volume of 1,198,652. The company has a quick ratio of 2.99, a current ratio of 3.59 and a debt-to-equity ratio of 0.76. The firm has a fifty day simple moving average of $284.29 and a two-hundred day simple moving average of $240.39. Lam Research Co. has a 1 year low of $136.65 and a 1 year high of $303.88. The company has a market cap of $43.13 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 1.43 and a beta of 1.64.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $3.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.01 by $0.17. Lam Research had a net margin of 22.38% and a return on equity of 43.11%. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same period last year, the company posted $3.36 EPS. The business’s revenue was down 7.1% on a year-over-year basis. As a group, equities analysts forecast that Lam Research Co. will post 15.21 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.53%. Lam Research’s dividend payout ratio is currently 31.62%.

In other news, CEO Timothy Archer sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $270.00, for a total transaction of $2,700,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Douglas R. Bettinger sold 18,693 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $279.03, for a total transaction of $5,215,907.79. The disclosure for this sale can be found here. Insiders have sold a total of 73,576 shares of company stock valued at $20,803,977 in the last 90 days. Insiders own 0.43% 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 worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

Further Reading: Certificate of Deposit (CD) For Risk Adverse Investors?

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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