Principal Financial Group Inc. Sells 12,423 Shares of Lam Research Corporation (LRCX)

Principal Financial Group Inc. lowered its holdings in Lam Research Corporation (NASDAQ:LRCX) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 497,285 shares of the semiconductor company’s stock after selling 12,423 shares during the quarter. Principal Financial Group Inc. owned approximately 0.31% of Lam Research Corporation worth $92,018,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LRCX. Odey Holdings AG lifted its holdings in Lam Research Corporation by 9.9% in the 2nd quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock worth $115,000 after buying an additional 73 shares during the period. BDO Wealth Advisors LLC purchased a new stake in Lam Research Corporation in the 2nd quarter worth approximately $118,000. Bollard Group LLC purchased a new stake in Lam Research Corporation in the 3rd quarter worth approximately $130,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Lam Research Corporation in the 2nd quarter worth approximately $134,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its holdings in Lam Research Corporation by 358.3% in the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,100 shares of the semiconductor company’s stock worth $156,000 after buying an additional 860 shares during the period. Institutional investors and hedge funds own 94.51% of the company’s stock.

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Lam Research Corporation (NASDAQ LRCX) opened at $207.39 on Friday. Lam Research Corporation has a 52-week low of $95.10 and a 52-week high of $211.41. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.83 and a current ratio of 3.31. The firm has a market capitalization of $33,585.98, a P/E ratio of 17.86, a P/E/G ratio of 0.97 and a beta of 1.63.

Lam Research Corporation (NASDAQ:LRCX) last posted its quarterly earnings data on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.27 by $0.19. Lam Research Corporation had a return on equity of 30.19% and a net margin of 22.85%. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the company earned $1.81 EPS. The firm’s revenue for the quarter was up 51.8% on a year-over-year basis. equities analysts forecast that Lam Research Corporation will post 14.45 earnings per share for the current year.

Several research firms have weighed in on LRCX. Argus increased their price objective on Lam Research Corporation from $196.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. Berenberg Bank reiterated a “buy” rating and issued a $240.00 price objective on shares of Lam Research Corporation in a report on Thursday, October 19th. Needham & Company LLC increased their price objective on Lam Research Corporation from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. Bank of America Corporation increased their price objective on Lam Research Corporation from $230.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. Finally, J P Morgan Chase & Co reiterated a “buy” rating and issued a $230.00 price objective on shares of Lam Research Corporation in a report on Wednesday, October 18th. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $209.32.

In other Lam Research Corporation news, Director Stephen G. Newberry sold 750 shares of Lam Research Corporation stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $195.09, for a total value of $146,317.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Timothy Archer sold 11,590 shares of Lam Research Corporation stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $181.76, for a total value of $2,106,598.40. The disclosure for this sale can be found here. In the last three months, insiders sold 40,419 shares of company stock valued at $7,167,497. Corporate insiders own 0.41% of the company’s stock.

Lam Research Corporation Profile

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.

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Institutional Ownership by Quarter for Lam Research Corporation (NASDAQ:LRCX)

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