Semanteon Capital Management LP Makes New Investment in Lam Research Co. (NASDAQ:LRCX)

Semanteon Capital Management LP purchased a new position in Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 19,430 shares of the semiconductor company’s stock, valued at approximately $1,403,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Insight Wealth Partners LLC purchased a new position in Lam Research in the 3rd quarter worth approximately $202,000. B&L Asset Management LLC purchased a new position in Lam Research in the 3rd quarter worth approximately $204,000. Dynamic Technology Lab Private Ltd purchased a new position in Lam Research in the 3rd quarter worth approximately $220,000. Concorde Asset Management LLC purchased a new position in Lam Research in the 3rd quarter worth approximately $242,000. Finally, Virtus Investment Advisers Inc. purchased a new position in Lam Research in the 3rd quarter worth approximately $245,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the subject of several research analyst reports. Oppenheimer initiated coverage on Lam Research in a research note on Thursday. They set an “outperform” rating and a $95.00 target price for the company. Morgan Stanley increased their target price on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and increased their target price for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 target price on shares of Lam Research in a research note on Tuesday, February 18th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Lam Research in a research note on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.06.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $77.55 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 debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The business’s fifty day moving average price is $79.60 and its two-hundred day moving average price is $77.33. The firm has a market capitalization of $99.55 billion, a PE ratio of 23.56, a P/E/G ratio of 1.47 and a beta of 1.53.

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

Lam Research Announces Dividend

The firm 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 dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is 27.96%.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’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 directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This trade 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 accessible through the SEC website. Corporate insiders own 0.29% of the company’s stock.

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.