2,870,330 Shares in Lam Research Co. (NASDAQ:LRCX) Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. acquired a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 2,870,330 shares of the semiconductor company’s stock, valued at approximately $207,419,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LRCX. Parisi Gray Wealth Management grew its stake in Lam Research by 652.9% in the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after purchasing an additional 7,241 shares during the period. Burns J W & Co. Inc. NY purchased a new stake in shares of Lam Research in the 4th quarter worth about $815,000. Centerpoint Advisors LLC increased its stake in shares of Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after acquiring an additional 900 shares in the last quarter. Transform Wealth LLC purchased a new position in Lam Research during the 4th quarter valued at about $17,269,000. Finally, E. Ohman J or Asset Management AB bought a new stake in Lam Research during the fourth quarter worth about $4,258,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

NASDAQ:LRCX opened at $59.09 on Monday. The stock has a 50-day simple moving average of $78.26 and a two-hundred day simple moving average of $77.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research Co. has a 52-week low of $56.89 and a 52-week high of $113.00. The firm has a market capitalization of $75.85 billion, a PE ratio of 17.95, a P/E/G ratio of 1.47 and a beta of 1.52.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Analysts forecast that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The company also recently announced 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 dividend yield of 1.56%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is 27.96%.

Insider Buying and Selling

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the 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 sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.29% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of analyst reports. Barclays dropped their price target on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Mizuho increased their target price on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research report on Friday, January 17th. Oppenheimer assumed coverage on shares of Lam Research in a research report on Thursday, March 20th. They set an “outperform” rating and a $95.00 price objective on the stock. Finally, The Goldman Sachs Group decreased their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $97.59.

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.