Zurich Insurance Group Ltd FI Buys Shares of 425,652 Lam Research Co. (NASDAQ:LRCX)

Zurich Insurance Group Ltd FI bought a new stake in Lam Research Co. (NASDAQ:LRCX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 425,652 shares of the semiconductor company's stock, valued at approximately $30,745,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Centerpoint Advisors LLC lifted 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 worth $72,000 after buying an additional 900 shares during the last quarter. Transform Wealth LLC acquired a new position in shares of Lam Research during the 4th quarter worth about $17,269,000. E. Ohman J or Asset Management AB acquired a new position in shares of Lam Research during the 4th quarter worth about $4,258,000. Huntington National Bank lifted its position in shares of Lam Research by 944.0% during the 4th quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock worth $21,291,000 after purchasing an additional 266,527 shares during the last quarter. Finally, Trust Co. of Oklahoma lifted its position in shares of Lam Research by 904.2% during the 4th quarter. Trust Co. of Oklahoma now owns 25,778 shares of the semiconductor company's stock worth $1,862,000 after purchasing an additional 23,211 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Insiders Place Their Bets

In other Lam Research 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 transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.29% of the company's stock.

Lam Research Stock Down 0.7%

NASDAQ LRCX opened at $83.82 on Tuesday. The firm has a market cap of $107.22 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64. Lam Research Co. has a one year low of $56.32 and a one year high of $113.00. The stock's 50 day simple moving average is $72.50 and its 200 day simple moving average is $75.53. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Lam Research's revenue for the quarter was up 24.4% on a year-over-year basis. During the same period in the prior year, the company earned $7.79 EPS. As a group, sell-side analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Oppenheimer cut their price objective on Lam Research from $95.00 to $80.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Evercore ISI boosted their price objective on Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. UBS Group cut their price target on Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a report on Monday, April 14th. Mizuho upped their price target on Lam Research from $87.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Finally, TD Securities cut their price target on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $91.56.

About Lam Research

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.