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

Cincinnati Insurance Co. boosted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 900.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,492,110 shares of the semiconductor company’s stock after buying an additional 2,242,899 shares during the quarter. Lam Research makes up about 3.2% of Cincinnati Insurance Co.’s portfolio, making the stock its 7th largest position. Cincinnati Insurance Co.’s holdings in Lam Research were worth $180,005,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Parisi Gray Wealth Management boosted its position in shares of Lam Research by 652.9% during the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after purchasing an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY bought a new position in Lam Research in the fourth quarter valued at $815,000. Centerpoint Advisors LLC increased its position in shares of Lam Research by 900.0% in the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 900 shares during the last quarter. Worldquant Millennium Advisors LLC increased its position in shares of Lam Research by 51.9% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after purchasing an additional 73,648 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its position in Lam Research by 4,085.9% during the third quarter. Benjamin Edwards Inc. now owns 13,395 shares of the semiconductor company’s stock worth $10,932,000 after acquiring an additional 13,075 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Trading Down 1.7 %

NASDAQ:LRCX opened at $74.81 on Friday. The firm’s fifty day moving average is $79.66 and its 200-day moving average is $77.32. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. 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 firm has a market cap of $96.03 billion, a P/E ratio of 22.72, a P/E/G ratio of 1.47 and a beta of 1.53.

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 the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Equities analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was 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 in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on LRCX. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and raised their price objective for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. Mizuho boosted their price objective on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research report on Friday, January 17th. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Finally, Oppenheimer initiated coverage on shares of Lam Research in a research note on Thursday, March 20th. They issued an “outperform” rating and a $95.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average price target of $98.06.

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.