Sei Investments Co. Buys 1,333,242 Shares of Lam Research Co. (NASDAQ:LRCX)

Sei Investments Co. boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 879.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,484,793 shares of the semiconductor company’s stock after purchasing an additional 1,333,242 shares during the period. Sei Investments Co.’s holdings in Lam Research were worth $107,244,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Financial Perspectives Inc increased its holdings in shares of Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 309 shares in the last quarter. Fairway Wealth LLC increased its holdings in shares of Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 306 shares in the last quarter. Atwood & Palmer Inc. bought a new stake in shares of Lam Research in the 4th quarter worth $27,000. Midwest Capital Advisors LLC bought a new stake in shares of Lam Research in the 4th quarter worth $27,000. Finally, Bell Investment Advisors Inc increased its holdings in shares of Lam Research by 836.6% in the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 343 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Insider Activity at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the sale, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.29% of the stock is owned by corporate insiders.

Lam Research Stock Performance

NASDAQ LRCX opened at $75.84 on Friday. The firm has a market cap of $97.35 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $79.62 and a 200-day moving average price of $77.28. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share 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%. As a group, equities research analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s payout ratio is presently 27.96%.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of research analyst reports. Mizuho lifted their target price on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a research note on Friday, January 17th. Wells Fargo & Company raised their price target on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Finally, Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and a consensus target price of $98.06.

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.