Zurcher Kantonalbank Zurich Cantonalbank Buys 566,061 Shares of Lam Research Co. (NASDAQ:LRCX)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Lam Research Co. (NASDAQ:LRCX) by 1,008.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 622,188 shares of the semiconductor company’s stock after purchasing an additional 566,061 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lam Research were worth $44,941,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of LRCX. Cypress Capital Group increased its holdings in Lam Research by 3.7% during the 3rd quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock worth $2,987,000 after purchasing an additional 132 shares during the period. Savvy Advisors Inc. increased its holdings in Lam Research by 58.3% during the 3rd quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock worth $297,000 after purchasing an additional 134 shares during the period. West Oak Capital LLC increased its holdings in Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 135 shares during the period. Baldwin Investment Management LLC increased its holdings in Lam Research by 1.4% during the 3rd quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock worth $8,364,000 after purchasing an additional 137 shares during the period. Finally, Bedell Frazier Investment Counselling LLC increased its holdings in Lam Research by 10.1% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company’s stock worth $1,272,000 after purchasing an additional 143 shares during the period. 84.61% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Lam Research 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.29% of the stock is currently owned by insiders.

Lam Research Stock Performance

Shares of LRCX opened at $73.81 on Tuesday. The stock has a 50-day moving average of $79.33 and a two-hundred day moving average of $77.59. 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 quick ratio of 1.73 and a current ratio of 2.54. The stock has a market cap of $94.75 billion, a P/E ratio of 22.42, a P/E/G ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last issued 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 3.71 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 given a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.25%. Lam Research’s dividend payout ratio is currently 27.96%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Morgan Stanley raised their price objective on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a research report on Friday, January 17th. Wells Fargo & Company increased their target price on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and increased their target price for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. Finally, Barclays dropped their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

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.