Lam Research Co. (NASDAQ:LRCX) Shares Bought by Sei Investments Co.

Sei Investments Co. grew its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 879.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,484,793 shares of the semiconductor company's stock after buying an additional 1,333,242 shares during the quarter. Sei Investments Co. owned 0.12% of Lam Research worth $107,244,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Fisher Asset Management LLC raised its holdings in 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 worth $1,341,902,000 after purchasing an additional 16,706,708 shares during the period. Amundi increased its position 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 valued at $990,464,000 after buying an additional 12,777,094 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Lam Research by 860.4% during the 4th quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company's stock worth $851,361,000 after buying an additional 10,559,508 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Lam Research by 931.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,482,429 shares of the semiconductor company's stock valued at $612,686,000 after buying an additional 7,659,830 shares in the last quarter. Finally, Swiss National Bank grew its stake in Lam Research by 843.4% in the 4th quarter. Swiss National Bank now owns 3,661,500 shares of the semiconductor company's stock valued at $264,470,000 after acquiring an additional 3,273,400 shares during the period. Hedge funds and other institutional investors own 84.61% of the company's stock.

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Analyst Ratings Changes

LRCX has been the topic of several recent analyst reports. Sanford C. Bernstein raised shares of Lam Research from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Barclays lowered their price objective on Lam Research from $90.00 to $75.00 and set an "equal weight" rating on the stock in a report on Friday, January 17th. Wolfe Research cut Lam Research from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 15th. Susquehanna raised Lam Research from a "neutral" rating to a "positive" rating and lifted their price target for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Finally, Morgan Stanley increased their price objective on Lam Research from $76.00 to $78.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $98.06.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now owns 179,084 shares of the company's stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company's stock.

Lam Research Trading Down 2.0 %

LRCX traded down $1.53 on Wednesday, hitting $76.14. The company had a trading volume of 7,325,096 shares, compared to its average volume of 11,059,492. The company's fifty day moving average price is $79.75 and its 200 day moving average price is $77.33. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The firm has a market cap of $97.74 billion, a P/E ratio of 23.13, a PEG ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, equities analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

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

Lam Research 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.