Vanguard Trims Lam Research Stake to 15.4%

TL;DR

**Vanguard cut its Lam Research stake to 15.4% as of Dec 29, 2023.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, disclosing its ownership of 20,709,242 shares of Lam Research Corp (LRCX) common stock as of December 29, 2023. This represents a 15.4% beneficial ownership stake, a slight decrease from its previous filing. This matters to investors because Vanguard is a significant institutional holder, and changes in its position can signal shifts in confidence or investment strategy for a leading semiconductor equipment supplier like Lam Research.

Why It Matters

Vanguard's slight reduction in its Lam Research stake could indicate a minor rebalancing of its portfolio, which might influence other institutional investors or signal a cautious outlook on the semiconductor equipment sector.

Risk Assessment

Risk Level: low — This filing indicates a minor adjustment by a large institutional investor, not a significant divestment that would pose immediate high risk.

Analyst Insight

Investors should note that a major institutional investor like Vanguard is slightly reducing its stake, which could be a minor portfolio rebalancing rather than a strong bearish signal. It's prudent to monitor future filings and broader sector news for Lam Research and the semiconductor industry.

Key Numbers

• 20,709,242 — Shares Beneficially Owned (Represents Vanguard's total holding in Lam Research Corp.)
• 15.4% — Percentage of Class (Indicates Vanguard's significant ownership stake in Lam Research Corp.)
• 175,654 — Shared Voting Power (The number of shares over which Vanguard has shared voting power.)
• 20,533,588 — Shared Dispositive Power (The number of shares over which Vanguard has shared dispositive power.)
• 0 — Sole Voting Power (Vanguard holds no sole voting power over Lam Research shares.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• Lam Research Corp (company) — issuer of the securities
• 20,709,242 shares (dollar_amount) — total shares beneficially owned by Vanguard
• 15.4% (dollar_amount) — percentage of class beneficially owned by Vanguard
• December 29, 2023 (dollar_amount) — date of event requiring the filing

Forward-Looking Statements

• Vanguard will maintain a significant, but potentially slightly reduced, stake in Lam Research over the next year. (The Vanguard Group) — medium confidence, target: 2025-02-13

FAQ

Filing Documents

• tv01312-lamresearchcorp.htm (SC 13G/A) — 11KB
• 0001104659-24-021318.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Lam Research Corp

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 4650 Cushing Parkway Fremont, CA 94538

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 512807108

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration