Zurich Insurance Group Ltd FI Has $96.37 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

Zurich Insurance Group Ltd FI increased its holdings in Lam Research Co. (NASDAQ:LRCX) by 14.5% during the second quarter, HoldingsChannel reports. The fund owned 90,500 shares of the semiconductor company’s stock after acquiring an additional 11,452 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in Lam Research were worth $96,369,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Insigneo Advisory Services LLC boosted its position in shares of Lam Research by 2.6% during the second quarter. Insigneo Advisory Services LLC now owns 907 shares of the semiconductor company’s stock valued at $966,000 after buying an additional 23 shares during the last quarter. Mill Creek Capital Advisors LLC purchased a new stake in Lam Research in the 2nd quarter valued at $226,000. Xponance Inc. boosted its holdings in Lam Research by 1.4% during the 2nd quarter. Xponance Inc. now owns 32,084 shares of the semiconductor company’s stock worth $34,165,000 after acquiring an additional 454 shares during the last quarter. Tairen Capital Ltd boosted its holdings in Lam Research by 199.5% during the 2nd quarter. Tairen Capital Ltd now owns 163,605 shares of the semiconductor company’s stock worth $174,215,000 after acquiring an additional 108,973 shares during the last quarter. Finally, Lombard Odier Asset Management Europe Ltd bought a new stake in shares of Lam Research in the 2nd quarter worth $3,646,000. Institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

LRCX has been the topic of several analyst reports. Barclays boosted their price target on shares of Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,130.00 target price on shares of Lam Research in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft decreased their price target on Lam Research from $1,100.00 to $950.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $1,200.00 target price on shares of Lam Research in a research report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,012.84.

Insider Activity at Lam Research

In other Lam Research news, CEO Timothy Archer sold 9,650 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the transaction, the chief executive officer now directly owns 84,639 shares in the company, valued at approximately $90,596,739.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Neil J. Fernandes sold 4,409 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the transaction, the senior vice president now owns 6,857 shares of the company’s stock, valued at $7,239,346.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy Archer sold 9,650 shares of Lam Research stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the sale, the chief executive officer now directly owns 84,639 shares of the company’s stock, valued at approximately $90,596,739.21. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,326 shares of company stock valued at $17,383,715. Company insiders own 0.32% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX stock opened at $791.06 on Wednesday. Lam Research Co. has a 12 month low of $574.42 and a 12 month high of $1,130.00. The stock has a market capitalization of $102.74 billion, a P/E ratio of 29.09, a PEG ratio of 1.51 and a beta of 1.48. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The firm’s 50 day moving average is $825.01 and its 200 day moving average is $922.49.

Lam Research’s stock is scheduled to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be payable to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, beating the consensus estimate of $7.58 by $0.56. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the previous year, the company earned $5.98 earnings per share. Lam Research’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, sell-side analysts anticipate that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Tuesday, September 17th. This is an increase from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s dividend payout ratio (DPR) is 33.84%.

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.