Cincinnati Insurance Co. Takes Position in Lam Research Co. (NASDAQ:LRCX)

Cincinnati Insurance Co. acquired a new position in Lam Research Co. (NASDAQ:LRCX – Get Rating) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 187,461 shares of the semiconductor company’s stock, valued at approximately $68,611,000. Lam Research makes up approximately 1.6% of Cincinnati Insurance Co.’s holdings, making the stock its 27th biggest holding. Cincinnati Insurance Co. owned about 0.14% of Lam Research at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Baird Financial Group Inc. lifted its stake in shares of Lam Research by 11.5% in the 1st quarter. Baird Financial Group Inc. now owns 39,514 shares of the semiconductor company’s stock worth $21,243,000 after acquiring an additional 4,090 shares during the period. Zions Bancorporation N.A. boosted its stake in Lam Research by 39.1% during the 1st quarter. Zions Bancorporation N.A. now owns 281 shares of the semiconductor company’s stock valued at $151,000 after purchasing an additional 79 shares in the last quarter. Brown Brothers Harriman & Co. increased its position in shares of Lam Research by 18.8% during the 1st quarter. Brown Brothers Harriman & Co. now owns 721 shares of the semiconductor company’s stock valued at $388,000 after purchasing an additional 114 shares during the period. Covestor Ltd raised its stake in shares of Lam Research by 51.9% in the 1st quarter. Covestor Ltd now owns 322 shares of the semiconductor company’s stock worth $173,000 after buying an additional 110 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Lam Research by 11.8% in the first quarter. Mackenzie Financial Corp now owns 233,280 shares of the semiconductor company’s stock valued at $125,414,000 after buying an additional 24,636 shares during the period. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Lam Research news, Director Abhijit Y. Talwalkar sold 880 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $429.72, for a total value of $378,153.60. Following the transaction, the director now directly owns 14,762 shares in the company, valued at $6,343,526.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Richard A. Gottscho sold 3,540 shares of the company’s stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $450.00, for a total value of $1,593,000.00. Following the completion of the sale, the executive vice president now owns 26,672 shares in the company, valued at $12,002,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Abhijit Y. Talwalkar sold 880 shares of Lam Research stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $429.72, for a total transaction of $378,153.60. Following the transaction, the director now directly owns 14,762 shares in the company, valued at $6,343,526.64. The disclosure for this sale can be found here. Insiders sold 4,420 shares of company stock valued at $1,971,154 over the last quarter. Corporate insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Citigroup dropped their target price on shares of Lam Research from $700.00 to $560.00 and set a “buy” rating on the stock in a report on Wednesday, October 19th. B. Riley lifted their target price on Lam Research from $390.00 to $440.00 and gave the stock a “neutral” rating in a report on Monday, January 23rd. UBS Group upped their target price on Lam Research from $450.00 to $530.00 and gave the company a “buy” rating in a report on Wednesday, November 30th. Morgan Stanley lifted their price target on Lam Research from $404.00 to $550.00 in a research note on Thursday, January 26th. Finally, Summit Insights raised shares of Lam Research from a “hold” rating to a “buy” rating in a research note on Thursday, October 20th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus price target of $492.10.

Lam Research Stock Up 2.5 %

Shares of LRCX traded up $12.68 during trading hours on Wednesday, hitting $512.78. 420,790 shares of the company were exchanged, compared to its average volume of 1,350,019. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.95 and a current ratio of 3.02. The company has a market cap of $69.93 billion, a PE ratio of 13.44, a PEG ratio of 8.26 and a beta of 1.42. The firm’s 50 day moving average is $452.14 and its 200-day moving average is $438.58. Lam Research Co. has a 52 week low of $299.59 and a 52 week high of $615.99.

Lam Research (NASDAQ:LRCX – Get Rating) last announced its earnings results on Wednesday, January 25th. The semiconductor company reported $10.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.95 by $0.76. Lam Research had a return on equity of 73.48% and a net margin of 26.91%. The firm had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter in the prior year, the business earned $8.53 earnings per share. The company’s revenue was up 24.9% on a year-over-year basis. On average, equities research analysts forecast that Lam Research Co. will post 33.29 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 4th. Stockholders of record on Wednesday, December 14th were paid a $1.725 dividend. This represents a $6.90 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Tuesday, December 13th. Lam Research’s dividend payout ratio is 18.55%.

Lam Research Company Profile

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Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.