Envestnet Portfolio Solutions Inc. Takes $9.42 Million Position in Lam Research Co. (NASDAQ:LRCX)

Envestnet Portfolio Solutions Inc. acquired a new stake in Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 130,384 shares of the semiconductor company’s stock, valued at approximately $9,418,000.

A number of other institutional investors also recently made changes to their positions in LRCX. Financial Perspectives Inc boosted its stake in shares of Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 309 shares in the last quarter. Fairway Wealth LLC boosted its stake in shares of 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 purchasing an additional 306 shares in the last quarter. Atwood & Palmer Inc. purchased a new stake in shares of Lam Research in the 4th quarter valued at $27,000. Midwest Capital Advisors LLC purchased a new stake in shares of Lam Research in the 4th quarter valued at $27,000. Finally, Bell Investment Advisors Inc boosted its stake in shares of Lam Research by 836.6% in the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 343 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Mizuho increased their price target on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Wells Fargo & Company increased their price target on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and increased their price target for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. Finally, Morgan Stanley increased their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average target price of $98.22.

Lam Research Stock Down 0.5 %

Shares of Lam Research stock opened at $78.31 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The company has a 50-day moving average of $79.58 and a 200 day moving average of $77.37. The firm has a market cap of $100.52 billion, a price-to-earnings ratio of 23.79, a PEG ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly 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%. As a group, sell-side analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.17%. Lam Research’s dividend payout ratio is currently 27.96%.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s 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 trade represents a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by company insiders.

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.