Sei Investments Co. Sells 911 Shares of Lam Research Co. (NASDAQ:LRCX)

Sei Investments Co. lessened its stake in Lam Research Co. (NASDAQ:LRCX) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 146,575 shares of the semiconductor company’s stock after selling 911 shares during the period. Sei Investments Co. owned about 0.11% of Lam Research worth $156,072,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. AE Wealth Management LLC boosted its stake in shares of Lam Research by 22.5% during the second quarter. AE Wealth Management LLC now owns 957 shares of the semiconductor company’s stock valued at $1,019,000 after purchasing an additional 176 shares during the period. Elite Wealth Management Inc. purchased a new stake in Lam Research during the 2nd quarter valued at $706,000. Canada Pension Plan Investment Board grew its holdings in Lam Research by 2.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 420,117 shares of the semiconductor company’s stock worth $447,362,000 after acquiring an additional 8,295 shares during the last quarter. Joseph Group Capital Management increased its position in shares of Lam Research by 8.1% in the second quarter. Joseph Group Capital Management now owns 3,264 shares of the semiconductor company’s stock valued at $3,476,000 after acquiring an additional 245 shares during the period. Finally, Benjamin Edwards Inc. raised its stake in shares of Lam Research by 5.6% during the second quarter. Benjamin Edwards Inc. now owns 320 shares of the semiconductor company’s stock valued at $341,000 after acquiring an additional 17 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Timothy Archer sold 9,650 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the sale, the chief executive officer now owns 84,639 shares of the company’s stock, valued at approximately $90,596,739.21. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Lam Research news, CEO Timothy Archer sold 9,650 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the completion of the sale, the chief executive officer now directly owns 84,639 shares in the company, valued at approximately $90,596,739.21. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Neil J. Fernandes sold 4,409 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the completion of the transaction, the senior vice president now owns 6,857 shares in the company, valued at $7,239,346.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,326 shares of company stock worth $17,383,715. 0.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

LRCX has been the topic of a number of research analyst reports. Raymond James boosted their price target on Lam Research from $950.00 to $1,060.00 and gave the company an “outperform” rating in a report on Friday, June 7th. B. Riley upped their target price on Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Barclays lifted their price target on shares of Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. Citigroup dropped their target price on shares of Lam Research from $990.00 to $893.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Finally, Wells Fargo & Company reduced their price target on shares of Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus price target of $1,012.84.

Lam Research Stock Down 2.0 %

NASDAQ:LRCX opened at $773.19 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The firm has a market cap of $101.09 billion, a P/E ratio of 28.44, a P/E/G ratio of 1.48 and a beta of 1.48. Lam Research Co. has a fifty-two week low of $574.42 and a fifty-two week high of $1,130.00. The firm has a 50-day simple moving average of $836.41 and a two-hundred day simple moving average of $925.79.

Lam Research shares are going to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be issued to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, topping analysts’ consensus estimates of $7.58 by $0.56. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same period in the previous year, the business earned $5.98 EPS. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. Analysts predict that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be given a dividend of $2.30 per share. The ex-dividend date is Tuesday, September 17th. This is a boost from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 annualized dividend and a dividend yield of 1.19%. Lam Research’s dividend payout ratio (DPR) is 33.84%.

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.