Cincinnati Specialty Underwriters Insurance CO Buys 25,047 Shares of Lam Research Co. (NASDAQ:LRCX)

Cincinnati Specialty Underwriters Insurance CO lifted its stake in Lam Research Co. (NASDAQ:LRCX) by 900.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,830 shares of the semiconductor company’s stock after acquiring an additional 25,047 shares during the quarter. Lam Research accounts for about 0.6% of Cincinnati Specialty Underwriters Insurance CO’s investment portfolio, making the stock its 28th largest holding. Cincinnati Specialty Underwriters Insurance CO’s holdings in Lam Research were worth $2,010,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of LRCX. West Oak Capital LLC lifted its stake in shares of Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 135 shares in the last quarter. IHT Wealth Management LLC raised its position in Lam Research by 5.7% during the third quarter. IHT Wealth Management LLC now owns 2,729 shares of the semiconductor company’s stock valued at $2,216,000 after purchasing an additional 147 shares during the period. Community Bank N.A. increased its position in Lam Research by 12.5% during the third quarter. Community Bank N.A. now owns 1,765 shares of the semiconductor company’s stock valued at $1,440,000 after acquiring an additional 196 shares during the last quarter. Algert Global LLC boosted its stake in shares of Lam Research by 40.5% during the 3rd quarter. Algert Global LLC now owns 694 shares of the semiconductor company’s stock worth $566,000 after purchasing an additional 200 shares during the period. Finally, Icon Wealth Advisors LLC grew its stake in shares of Lam Research by 11.0% during the third quarter. Icon Wealth Advisors LLC now owns 2,217 shares of the semiconductor company’s stock valued at $1,809,000 after buying an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Activity at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value 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 trade represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is currently owned by insiders.

Lam Research Price Performance

NASDAQ LRCX opened at $74.81 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The stock has a market capitalization 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. The business’s fifty day moving average is $79.66 and its two-hundred day moving average is $77.32.

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%. On average, research analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have weighed in on LRCX. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and upped their target price for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Wells Fargo & Company increased their price target on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Morgan Stanley boosted their price objective on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Mizuho raised their price target on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group lowered their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.06.

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.