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

Perennial Investment Advisors LLC lifted its holdings in Lam Research Co. (NASDAQ:LRCX) by 869.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,880 shares of the semiconductor company’s stock after purchasing an additional 7,067 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Lam Research were worth $569,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of LRCX. Grantham Mayo Van Otterloo & Co. LLC increased its stake in Lam Research by 900.0% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 8,097,665 shares of the semiconductor company’s stock worth $584,894,000 after acquiring an additional 7,287,866 shares during the last quarter. Aviva PLC increased its position in shares of Lam Research by 881.5% during the 4th quarter. Aviva PLC now owns 862,455 shares of the semiconductor company’s stock valued at $62,295,000 after purchasing an additional 774,587 shares during the last quarter. Mizuho Bank Ltd. purchased a new stake in Lam Research during the 4th quarter valued at $61,000. Resona Asset Management Co. Ltd. bought a new stake in Lam Research in the fourth quarter worth $30,062,000. Finally, Wells Fargo & Company MN boosted its stake in Lam Research by 836.4% during the fourth quarter. Wells Fargo & Company MN now owns 5,844,947 shares of the semiconductor company’s stock worth $422,181,000 after buying an additional 5,220,742 shares during the period. Institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research 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 sale, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by company insiders.

Lam Research Stock Performance

Shares of Lam Research stock opened at $59.09 on Friday. The company 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. The company has a 50-day simple moving average of $78.26 and a two-hundred day simple moving average of $77.07. Lam Research Co. has a one year low of $57.97 and a one year high of $113.00. 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 (NASDAQ:LRCX) last posted its quarterly earnings data 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 net margin of 26.49% and a return on equity of 51.86%. Research analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be given a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.56%. Lam Research’s payout ratio is 27.96%.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several analyst reports. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a report on Friday, January 17th. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and boosted their target price for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. Barclays decreased their price target on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Finally, Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and an average target price of $97.59.

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.