Cincinnati Financial Corp Acquires 249,516 Shares of Lam Research Co. (NASDAQ:LRCX)

Cincinnati Financial Corp grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 900.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 277,240 shares of the semiconductor company’s stock after buying an additional 249,516 shares during the period. Cincinnati Financial Corp’s holdings in Lam Research were worth $20,025,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. boosted its position in shares of Lam Research by 204.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 578,510 shares of the semiconductor company’s stock valued at $41,786,000 after acquiring an additional 388,782 shares during the last quarter. Covington Investment Advisors Inc. raised its stake in Lam Research by 956.8% in the fourth quarter. Covington Investment Advisors Inc. now owns 161,805 shares of the semiconductor company’s stock valued at $11,687,000 after purchasing an additional 146,494 shares in the last quarter. Cincinnati Specialty Underwriters Insurance CO lifted its position in Lam Research by 900.0% during the fourth quarter. Cincinnati Specialty Underwriters Insurance CO now owns 27,830 shares of the semiconductor company’s stock valued at $2,010,000 after purchasing an additional 25,047 shares during the last quarter. Norges Bank purchased a new position in Lam Research in the 4th quarter worth approximately $1,661,672,000. Finally, Blair William & Co. IL increased its holdings in shares of Lam Research by 824.9% in the 4th quarter. Blair William & Co. IL now owns 64,112 shares of the semiconductor company’s stock worth $4,631,000 after buying an additional 57,180 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 related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction on Thursday, February 20th. The shares were 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 in the company, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. The Goldman Sachs Group dropped their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Barclays cut their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a research report on Friday, January 17th. Cantor Fitzgerald restated an “overweight” rating and set a $100.00 price target on shares of Lam Research in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company lifted their price objective on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Six equities 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.06.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $74.81 on Friday. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The firm has a market capitalization of $96.03 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average of $79.66 and a 200 day moving average of $77.32.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. On average, research analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently disclosed 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. 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 currently 27.96%.

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.