Lam Research Co. (NASDAQ:LRCX) Stock Holdings Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 250,105 shares of the semiconductor company’s stock after selling 3,730 shares during the quarter. Principal Financial Group Inc.’s holdings in Lam Research were worth $204,106,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Csenge Advisory Group raised its position in shares of Lam Research by 7.4% during the 1st quarter. Csenge Advisory Group now owns 306 shares of the semiconductor company’s stock worth $297,000 after purchasing an additional 21 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in Lam Research by 4.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,495 shares of the semiconductor company’s stock worth $17,969,000 after buying an additional 748 shares during the period. Nelson Capital Management LLC acquired a new stake in Lam Research in the first quarter worth $437,000. Hansen & Associates Financial Group Inc. acquired a new position in shares of Lam Research during the first quarter valued at $300,000. Finally, Sustainable Insight Capital Management LLC bought a new position in shares of Lam Research during the first quarter worth about $9,600,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.29% of the company’s stock.

Lam Research Stock Up 3.2 %

LRCX stock opened at $79.21 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The firm has a market cap of $101.92 billion, a PE ratio of 25.60, a P/E/G ratio of 1.18 and a beta of 1.48. Lam Research Co. has a 12 month low of $64.11 and a 12 month high of $113.00. The firm has a 50 day simple moving average of $77.73 and a 200 day simple moving average of $88.66.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company’s revenue was up 19.7% compared to the same quarter last year. During the same period last year, the company posted $6.85 EPS. Equities research analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.16%. Lam Research’s payout ratio is presently 29.74%.

Analysts Set New Price Targets

Several analysts recently weighed in on LRCX shares. Mizuho cut their price objective on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Citigroup cut their price target on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a report on Monday, September 16th. Wells Fargo & Company decreased their price objective on Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. B. Riley cut their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

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.