Argonautica Private Wealth Management Inc. Invests $1.04 Million in Lam Research Co. (NASDAQ:LRCX)

Argonautica Private Wealth Management Inc. purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 14,394 shares of the semiconductor company’s stock, valued at approximately $1,040,000.

A number of other hedge funds have also added to or reduced their stakes in LRCX. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Lam Research by 2,400.0% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after purchasing an additional 192 shares in the last quarter. Insight Wealth Partners LLC acquired a new stake in Lam Research in the third quarter valued at about $202,000. B&L Asset Management LLC bought a new position in Lam Research in the third quarter valued at about $204,000. Dynamic Technology Lab Private Ltd acquired a new position in Lam Research during the third quarter worth about $220,000. Finally, Tilson Financial Group Inc. bought a new position in shares of Lam Research in the third quarter worth about $233,000. 84.61% of the stock is owned by institutional investors.

Lam Research Trading Down 3.7 %

NASDAQ LRCX opened at $80.28 on Wednesday. The stock has a market capitalization of $103.06 billion, a P/E ratio of 24.39, a P/E/G ratio of 1.47 and a beta of 1.46. The business has a 50 day simple moving average of $78.62 and a 200 day simple moving average of $78.11. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 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%. Research analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.15%. Lam Research’s dividend payout ratio is currently 27.96%.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction that occurred 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 directly owns 179,084 shares of the company’s stock, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of research analyst reports. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Barclays lowered their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. The Goldman Sachs Group cut their price objective on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 target price on shares of Lam Research in a research report on Tuesday, February 18th. Finally, Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $98.22.

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.