425,652 Shares in Lam Research Co. (NASDAQ:LRCX) Acquired by Zurich Insurance Group Ltd FI

Zurich Insurance Group Ltd FI purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 425,652 shares of the semiconductor company's stock, valued at approximately $30,745,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LRCX. Centerpoint Advisors LLC lifted its position in shares of Lam Research by 900.0% during the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock worth $72,000 after purchasing an additional 900 shares during the last quarter. Transform Wealth LLC bought a new position in Lam Research in the fourth quarter worth about $17,269,000. E. Ohman J or Asset Management AB acquired a new stake in shares of Lam Research in the fourth quarter valued at approximately $4,258,000. Huntington National Bank increased its stake in shares of Lam Research by 944.0% in the fourth quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock valued at $21,291,000 after purchasing an additional 266,527 shares during the period. Finally, Trust Co. of Oklahoma increased its stake in shares of Lam Research by 904.2% in the fourth quarter. Trust Co. of Oklahoma now owns 25,778 shares of the semiconductor company's stock valued at $1,862,000 after purchasing an additional 23,211 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Price Performance

NASDAQ:LRCX traded down $1.50 on Friday, reaching $81.06. The stock had a trading volume of 8,275,227 shares, compared to its average volume of 12,260,756. The company has a market capitalization of $103.69 billion, a P/E ratio of 24.62, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64. Lam Research Co. has a 1-year low of $56.32 and a 1-year high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The stock has a fifty day moving average price of $72.92 and a 200-day moving average price of $75.73.

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

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is 25.63%.

Analyst Ratings Changes

A number of research analysts recently commented on LRCX shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $90.00 price objective on shares of Lam Research in a research note on Thursday, April 24th. Bank of America decreased their price objective on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Wells Fargo & Company decreased their price objective on shares of Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Argus raised shares of Lam Research to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Susquehanna raised shares of Lam Research from a "neutral" rating to a "positive" rating and lifted their target price for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Seven investment 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 stock. Based on data from MarketBeat, Lam Research has an average rating of "Moderate Buy" and an average target price of $91.56.

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.