Allianz SE Takes $1.37 Million Position in Lam Research Co. (NASDAQ:LRCX)

Allianz SE bought a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,968 shares of the semiconductor company’s stock, valued at approximately $1,369,000.

Other large investors have also bought and sold shares of the company. West Oak Capital LLC grew its stake in shares of Lam Research by 50.9% in 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 during the period. IHT Wealth Management LLC grew its stake in Lam Research by 5.7% in the third quarter. IHT Wealth Management LLC now owns 2,729 shares of the semiconductor company’s stock valued at $2,216,000 after acquiring an additional 147 shares during the period. Community Bank N.A. increased its holdings in shares of 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 in the last quarter. Algert Global LLC raised its position in shares of Lam Research by 40.5% during the third 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, Stevens Capital Management LP grew its position in Lam Research by 112.4% in the 3rd quarter. Stevens Capital Management LP now owns 427 shares of the semiconductor company’s stock valued at $348,000 after purchasing an additional 226 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. The Goldman Sachs Group lowered their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a research report on Tuesday, February 18th. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a report on Friday, January 17th. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and raised their target price for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Finally, Oppenheimer started coverage on Lam Research in a report on Thursday, March 20th. They set an “outperform” rating and a $95.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.59.

Lam Research Price Performance

Lam Research stock opened at $72.61 on Friday. The firm has a market capitalization of $93.21 billion, a P/E ratio of 22.06, a PEG ratio of 1.47 and a beta of 1.53. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The business has a fifty day moving average price of $79.51 and a 200-day moving average price of $77.31.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating 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, equities research analysts forecast that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.29% of the company’s stock.

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.