Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its position in Lam Research Co. (NASDAQ:LRCX) by 949.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,625,490 shares of the semiconductor company’s stock after acquiring an additional 2,375,385 shares during the period. Principal Financial Group Inc. owned about 0.20% of Lam Research worth $189,639,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of LRCX. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Lam Research by 2,400.0% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock worth $163,000 after acquiring an additional 192 shares during the last quarter. Insight Wealth Partners LLC purchased a new position in Lam Research during the third quarter worth approximately $202,000. B&L Asset Management LLC acquired a new position in shares of Lam Research in the 3rd quarter valued at $204,000. CWC Advisors LLC. purchased a new stake in shares of Lam Research during the 3rd quarter valued at $220,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Lam Research during the 3rd quarter worth $220,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald raised Lam Research from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $95.00 to $100.00 in a research report on Thursday, January 30th. The Goldman Sachs Group decreased their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. Stifel Nicolaus restated a “buy” rating and issued a $100.00 price target (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Wells Fargo & Company boosted their price objective on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Finally, Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $95.72.

Lam Research Trading Down 0.7 %

NASDAQ LRCX opened at $82.75 on Tuesday. The company has a market capitalization of $106.22 billion, a price-to-earnings ratio of 25.14, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46. 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 Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The company’s fifty day moving average price is $77.48 and its two-hundred day moving average price is $77.86.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, research analysts predict that Lam Research Co. will post 3.69 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.95%.

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.