Perennial Investment Advisors LLC Increases Holdings in Lam Research Co. (NASDAQ:LRCX)

Perennial Investment Advisors LLC boosted its position in Lam Research Co. (NASDAQ:LRCX) by 869.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,880 shares of the semiconductor company’s stock after buying an additional 7,067 shares during the period. Perennial Investment Advisors LLC’s holdings in Lam Research were worth $569,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of LRCX. Vanguard Group Inc. increased its stake in shares of Lam Research by 892.7% in the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock worth $8,724,498,000 after acquiring an additional 108,619,564 shares during the period. Geode Capital Management LLC grew its position in Lam Research by 907.1% during the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock worth $2,265,610,000 after purchasing an additional 28,307,499 shares during the period. Norges Bank purchased a new position in shares of Lam Research during the 4th quarter valued at about $1,661,672,000. Fisher Asset Management LLC lifted its holdings in shares of Lam Research by 892.7% in the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock valued at $1,341,902,000 after buying an additional 16,706,708 shares during the period. Finally, Amundi boosted its stake in shares of Lam Research by 7,601.9% in the fourth quarter. Amundi now owns 12,945,172 shares of the semiconductor company’s stock worth $990,464,000 after buying an additional 12,777,094 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Down 9.4 %

Shares of NASDAQ:LRCX opened at $59.09 on Friday. The firm’s 50-day moving average is $78.26 and its two-hundred day moving average is $77.07. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a 1 year low of $57.97 and a 1 year high of $113.00. The firm has a market capitalization of $75.85 billion, a PE ratio of 17.95, a price-to-earnings-growth 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 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend 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 presently 27.96%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LRCX shares. The Goldman Sachs Group decreased their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. Oppenheimer began coverage on shares of Lam Research in a report on Thursday, March 20th. They issued an “outperform” rating and a $95.00 price objective for the company. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Finally, Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and lifted their price target for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.59.

Insiders Place Their Bets

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value 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. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.29% of the company’s stock.

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.