Artemis Wealth Advisors LLC Raises Holdings in Lam Research Co. (NASDAQ:LRCX)

Artemis Wealth Advisors LLC boosted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 400.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,000 shares of the semiconductor company’s stock after buying an additional 24,000 shares during the quarter. Lam Research makes up approximately 0.4% of Artemis Wealth Advisors LLC’s investment portfolio, making the stock its 15th biggest holding. Artemis Wealth Advisors LLC’s holdings in Lam Research were worth $2,167,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Financial Perspectives Inc grew its holdings in Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 309 shares during the last quarter. Atwood & Palmer Inc. purchased a new position in Lam Research in the fourth quarter worth $27,000. Midwest Capital Advisors LLC purchased a new position in Lam Research in the fourth quarter worth $27,000. West Oak Capital LLC grew its holdings in Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 135 shares during the last quarter. Finally, Country Trust Bank grew its holdings in Lam Research by 900.0% in the fourth quarter. Country Trust Bank now owns 400 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 360 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a report on Tuesday, February 18th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Morgan Stanley lifted their price target on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. The Goldman Sachs Group lowered their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, Mizuho lifted their price objective on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $98.22.

Lam Research Trading Down 3.1 %

NASDAQ LRCX opened at $83.34 on Tuesday. The company has a market capitalization of $106.98 billion, a PE ratio of 25.32, a P/E/G ratio of 1.47 and a beta of 1.46. The company has a fifty day moving average of $78.57 and a 200 day moving average of $78.10. 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.

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

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.10%. Lam Research’s payout ratio is 27.96%.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate 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.