Lam Research Co. (NASDAQ:LRCX) Stock Position Decreased by Jennison Associates LLC

Jennison Associates LLC cut its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 39.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,229 shares of the semiconductor company’s stock after selling 58,634 shares during the quarter. Jennison Associates LLC owned 0.07% of Lam Research worth $71,456,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LRCX. International Assets Investment Management LLC boosted its stake in shares of Lam Research by 76,165.7% during the 4th quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock worth $249,099,000 after acquiring an additional 317,611 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of Lam Research by 1,125.6% during the 4th quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock worth $267,984,000 after acquiring an additional 314,224 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Lam Research by 10.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock worth $1,029,386,000 after acquiring an additional 159,815 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Lam Research by 106.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 301,071 shares of the semiconductor company’s stock worth $188,702,000 after acquiring an additional 155,240 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Lam Research by 9.7% in the third quarter. Northern Trust Corp now owns 1,523,215 shares of the semiconductor company’s stock worth $954,705,000 after buying an additional 134,558 shares during the period. 84.61% of the stock is owned by institutional investors.

Insider Buying and Selling at Lam Research

In other news, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the transaction, the director now directly owns 10,541 shares in the company, valued at $10,246,168.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the transaction, the chief accounting officer now directly owns 5,541 shares in the company, valued at $5,386,018.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of the transaction, the director now owns 10,541 shares in the company, valued at $10,246,168.23. The disclosure for this sale can be found here. Insiders have sold a total of 7,029 shares of company stock worth $6,559,489 over the last three months. Corporate insiders own 0.32% of the company’s stock.

Lam Research Price Performance

NASDAQ LRCX opened at $868.07 on Tuesday. Lam Research Co. has a fifty-two week low of $493.42 and a fifty-two week high of $1,007.39. The stock’s 50-day moving average is $944.64 and its two-hundred day moving average is $804.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. The firm has a market cap of $113.80 billion, a P/E ratio of 33.57, a price-to-earnings-growth ratio of 3.15 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating the consensus estimate of $7.06 by $0.46. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period last year, the company earned $10.71 earnings per share. The business’s revenue was down 28.8% compared to the same quarter last year. On average, analysts anticipate that Lam Research Co. will post 28.92 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were issued a dividend of $2.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.92%. Lam Research’s dividend payout ratio (DPR) is currently 30.94%.

Wall Street Analyst Weigh In

Several analysts have recently commented on LRCX shares. Susquehanna raised their target price on Lam Research from $655.00 to $880.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Raymond James raised their target price on Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Citigroup raised their target price on Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Wells Fargo & Company raised their target price on Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Finally, Needham & Company LLC raised their target price on Lam Research from $900.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $931.85.

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.