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

Principal Financial Group Inc. lowered its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 250,105 shares of the semiconductor company’s stock after selling 3,730 shares during the period. Principal Financial Group Inc.’s holdings in Lam Research were worth $204,106,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Csenge Advisory Group raised its position in shares of Lam Research by 7.4% in the first quarter. Csenge Advisory Group now owns 306 shares of the semiconductor company’s stock valued at $297,000 after buying an additional 21 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Lam Research by 4.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,495 shares of the semiconductor company’s stock valued at $17,969,000 after acquiring an additional 748 shares during the last quarter. Nelson Capital Management LLC acquired a new position in Lam Research in the 1st quarter valued at $437,000. Hansen & Associates Financial Group Inc. purchased a new position in shares of Lam Research during the 1st quarter worth $300,000. Finally, Sustainable Insight Capital Management LLC acquired a new stake in shares of Lam Research during the first quarter worth $9,600,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Transactions at Lam Research

In related news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the sale, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.29% of the company’s stock.

Lam Research Price Performance

LRCX opened at $79.21 on Friday. Lam Research Co. has a twelve month low of $64.11 and a twelve month high of $113.00. The firm has a market cap of $101.92 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 1.18 and a beta of 1.48. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The company has a fifty day simple moving average of $77.73 and a 200 day simple moving average of $88.66.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same period last year, the firm earned $6.85 earnings per share. The company’s revenue was up 19.7% on a year-over-year basis. Equities research analysts expect that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.16%. Lam Research’s dividend payout ratio (DPR) is currently 29.74%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on LRCX shares. Morgan Stanley reduced their target price on Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. B. Riley lowered their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. Finally, Mizuho lowered their price objective on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $97.03.

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.