Seizert Capital Partners LLC Buys 86,573 Shares of Lam Research Co. (NASDAQ:LRCX)

Seizert Capital Partners LLC boosted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 897.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 96,220 shares of the semiconductor company’s stock after acquiring an additional 86,573 shares during the period. Seizert Capital Partners LLC’s holdings in Lam Research were worth $6,950,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Amalgamated Bank increased its stake in Lam Research by 2.7% in the 3rd quarter. Amalgamated Bank now owns 28,843 shares of the semiconductor company’s stock worth $23,538,000 after buying an additional 745 shares in the last quarter. Crestwood Advisors Group LLC boosted its stake in shares of Lam Research by 2,112.7% in the third quarter. Crestwood Advisors Group LLC now owns 28,389 shares of the semiconductor company’s stock worth $23,168,000 after acquiring an additional 27,106 shares during the period. Foster & Motley Inc. purchased a new stake in shares of Lam Research during the third quarter worth about $591,000. M&G PLC raised its stake in Lam Research by 21.9% during the 3rd quarter. M&G PLC now owns 24,662 shares of the semiconductor company’s stock valued at $20,124,000 after purchasing an additional 4,431 shares during the period. Finally, Montecito Bank & Trust lifted its holdings in Lam Research by 109.2% in the 3rd quarter. Montecito Bank & Trust now owns 931 shares of the semiconductor company’s stock worth $760,000 after purchasing an additional 486 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of LRCX stock opened at $76.44 on Wednesday. The stock has a 50 day moving average price of $79.03 and a 200 day moving average price of $77.87. The firm has a market capitalization of $98.12 billion, a P/E ratio of 23.22, a P/E/G ratio of 1.47 and a beta of 1.46. 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 52-week low of $68.87 and a 52-week high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of Lam Research in a report on Thursday, January 30th. KeyCorp raised 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 research note on Friday, January 17th. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Barclays reduced their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Finally, Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and raised their price target for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $98.22.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the 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 this link. Insiders own 0.29% of the company’s stock.

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.