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

Cincinnati Insurance Co. boosted its position in Lam Research Co. (NASDAQ:LRCX) by 900.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,492,110 shares of the semiconductor company’s stock after purchasing an additional 2,242,899 shares during the period. Lam Research comprises approximately 3.2% of Cincinnati Insurance Co.’s holdings, making the stock its 7th largest position. Cincinnati Insurance Co. owned about 0.19% of Lam Research worth $180,005,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in LRCX. Level Four Advisory Services LLC acquired a new stake in Lam Research during the 4th quarter valued at $7,688,000. denkapparat Operations GmbH acquired a new position in Lam Research during the fourth quarter worth approximately $696,000. Orion Portfolio Solutions LLC raised its holdings in shares of Lam Research by 876.0% in the 4th quarter. Orion Portfolio Solutions LLC now owns 53,008 shares of the semiconductor company’s stock worth $3,829,000 after purchasing an additional 47,577 shares during the period. Pictet Asset Management Holding SA grew its stake in Lam Research by 1,010.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 7,872,549 shares of the semiconductor company’s stock worth $568,634,000 after buying an additional 7,163,580 shares during the period. Finally, Cincinnati Financial Corp lifted its position in Lam Research by 900.0% during the 4th quarter. Cincinnati Financial Corp now owns 277,240 shares of the semiconductor company’s stock worth $20,025,000 after acquiring an additional 249,516 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on LRCX. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. 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. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and raised their target price for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Morgan Stanley raised 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. Finally, Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $98.06.

Lam Research Price Performance

NASDAQ LRCX opened at $74.81 on Friday. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The firm has a market cap of $96.03 billion, a P/E ratio of 22.72, 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 current ratio of 2.54 and a quick ratio of 1.73. The stock’s 50-day moving average is $79.66 and its two-hundred day moving average is $77.32.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 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%. On average, analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal 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 given a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.23%. Lam Research’s dividend payout ratio is currently 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.