Envestnet Asset Management Inc. Makes New $207.42 Million Investment in Lam Research Co. (NASDAQ:LRCX)

Envestnet Asset Management Inc. bought a new stake in shares of Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,870,330 shares of the semiconductor company’s stock, valued at approximately $207,419,000. Envestnet Asset Management Inc. owned 0.22% of Lam Research as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Financial Perspectives Inc lifted its position in shares of Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 309 shares during the last quarter. Fairway Wealth LLC raised its stake in Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 306 shares during the period. Atwood & Palmer Inc. purchased a new stake in Lam Research during the fourth quarter valued at about $27,000. Midwest Capital Advisors LLC bought a new position in Lam Research during the fourth quarter worth about $27,000. Finally, Bell Investment Advisors Inc increased its stake in shares of Lam Research by 836.6% in the fourth 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

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction dated 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 in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

Lam Research Trading Down 9.4 %

Shares of LRCX opened at $59.09 on Monday. 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 fifty-two week low of $56.89 and a fifty-two week high of $113.00. The firm has a 50 day moving average price of $78.26 and a 200-day moving average price of $77.08. The firm has a market cap of $75.85 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 1.47 and a beta of 1.52.

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

Lam Research Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently commented on LRCX shares. Jefferies Financial Group upped their price target on shares of Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, March 28th. The Goldman Sachs Group cut 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. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a report on Friday, January 17th. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and lifted their target price for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a report on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock 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.