Sequoia Financial Advisors LLC Has $4.99 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Sequoia Financial Advisors LLC lifted its position in Lam Research Co. (NASDAQ:LRCX) by 1,340.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 69,071 shares of the semiconductor company’s stock after purchasing an additional 64,276 shares during the period. Sequoia Financial Advisors LLC’s holdings in Lam Research were worth $4,989,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. PFG Advisors grew its holdings in Lam Research by 918.2% in the 4th quarter. PFG Advisors now owns 26,983 shares of the semiconductor company’s stock valued at $1,949,000 after buying an additional 24,333 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of Lam Research in the fourth quarter valued at approximately $50,560,000. Moors & Cabot Inc. grew its stake in shares of Lam Research by 962.6% in the fourth quarter. Moors & Cabot Inc. now owns 26,683 shares of the semiconductor company’s stock worth $1,927,000 after acquiring an additional 24,172 shares during the last quarter. Prosperity Financial Group Inc. bought a new position in Lam Research during the fourth quarter worth $333,000. Finally, Natural Investments LLC acquired a new position in Lam Research during the 4th quarter valued at $209,000. 84.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and boosted their price target for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. The Goldman Sachs Group reduced their price objective on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research report on Friday, January 17th. Finally, Barclays reduced their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Lam Research has an average rating of “Moderate Buy” and an average target price of $98.22.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the transaction, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

Lam Research Stock Performance

NASDAQ LRCX opened at $75.26 on Friday. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The company has a 50 day moving average of $79.50 and a 200-day moving average of $77.44. 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 $96.61 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last released 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 return on equity of 51.86% and a net margin of 26.49%. On average, equities analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors 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 yield of 1.22%. Lam Research’s dividend payout ratio (DPR) is 27.96%.

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.