Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Cincinnati Financial Corp

Cincinnati Financial Corp lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 900.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 277,240 shares of the semiconductor company's stock after buying an additional 249,516 shares during the quarter. Cincinnati Financial Corp's holdings in Lam Research were worth $20,025,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. B&L Asset Management LLC purchased a new stake in Lam Research in the 3rd quarter valued at approximately $204,000. Dynamic Technology Lab Private Ltd acquired a new stake in Lam Research in the third quarter valued at $220,000. Virtus Investment Advisers Inc. purchased a new stake in Lam Research during the third quarter worth about $245,000. Qsemble Capital Management LP purchased a new stake in shares of Lam Research during the 3rd quarter worth approximately $267,000. Finally, Fairway Wealth LLC grew its holdings in shares of Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 306 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on LRCX. Susquehanna upgraded Lam Research from a "neutral" rating to a "positive" rating and boosted their target price for the stock from $75.00 to $125.00 in a research report on Thursday, February 20th. Wolfe Research cut shares of Lam Research from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 15th. Jefferies Financial Group lifted their target price on shares of Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday. Morgan Stanley increased their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an "equal weight" rating in a research report on Thursday, December 5th. Finally, 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 research note on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $97.59.

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Insider Activity at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value 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. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by insiders.

Lam Research Trading Down 0.5 %

Lam Research stock traded down $0.36 during midday trading on Tuesday, reaching $72.34. The stock had a trading volume of 3,803,127 shares, compared to its average volume of 11,677,305. The stock has a market capitalization of $92.86 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. 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 stock's 50-day simple moving average is $79.35 and its 200 day simple moving average is $77.31. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.27%. Lam Research's dividend payout ratio (DPR) is 27.96%.

Lam Research 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.