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

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

Several other institutional investors have also bought and sold shares of LRCX. Van ECK Associates Corp boosted its holdings in Lam Research by 1,394.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after acquiring an additional 15,005,178 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Lam Research by 860.4% during the fourth quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock valued at $851,361,000 after purchasing an additional 10,559,508 shares in the last quarter. Swedbank AB boosted its holdings in Lam Research by 1,488.8% during the fourth quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock worth $221,674,000 after purchasing an additional 2,875,843 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Lam Research by 827.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock worth $228,285,000 after purchasing an additional 2,819,668 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in Lam Research in the 4th quarter valued at about $175,652,000. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

NASDAQ:LRCX opened at $80.28 on Wednesday. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The business’s fifty day moving average is $78.62 and its 200 day moving average is $78.11. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The firm has a market cap of $103.06 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 1.47 and a beta of 1.46.

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

Lam Research Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on LRCX shares. The Goldman Sachs Group cut their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 price objective on shares of Lam Research in a research report on Tuesday, February 18th. Wells Fargo & Company raised their target price on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Barclays cut their price target on shares of 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, KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research report on Friday, January 17th. Six 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

Insider Buying and Selling

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 stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by company insiders.

Lam Research Company 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.