Zurcher Kantonalbank Zurich Cantonalbank Has $44.94 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 1,008.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 large investors have also modified their holdings of LRCX. Axxcess Wealth Management LLC boosted its stake in Lam Research by 37.6% in the 3rd quarter. Axxcess Wealth Management LLC now owns 1,080 shares of the semiconductor company's stock worth $881,000 after buying an additional 295 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in Lam Research by 2,400.0% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company's stock worth $163,000 after purchasing an additional 192 shares during the last quarter. Chartwell Investment Partners LLC raised its stake in Lam Research by 8.4% during the third quarter. Chartwell Investment Partners LLC now owns 11,328 shares of the semiconductor company's stock worth $9,245,000 after purchasing an additional 876 shares during the period. GDS Wealth Management purchased a new stake in shares of Lam Research during the 3rd quarter valued at $484,000. Finally, Laffer Tengler Investments Inc. increased its holdings in shares of Lam Research by 1.8% during the 3rd quarter. Laffer Tengler Investments Inc. now owns 9,474 shares of the semiconductor company's stock worth $7,732,000 after buying an additional 163 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were 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 document filed with the SEC, which is accessible through this link. 0.29% of the stock is owned by corporate insiders.

Lam Research Stock Performance

NASDAQ LRCX traded up $2.94 during trading hours on Wednesday, hitting $76.30. The company had a trading volume of 6,775,785 shares, compared to its average volume of 11,056,400. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The business has a fifty day simple moving average of $79.35 and a 200-day simple moving average of $77.52. The firm has a market cap of $97.94 billion, a P/E ratio of 23.20, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (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%. Equities analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.21%. Lam Research's dividend payout ratio is presently 27.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Sanford C. Bernstein raised Lam Research from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. The Goldman Sachs Group dropped their target price on shares of Lam Research from $96.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Morgan Stanley upped their target price on Lam Research from $76.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 5th. 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 report on Friday, January 17th. Finally, Wells Fargo & Company increased their price objective on shares of Lam Research from $82.00 to $85.00 and gave the company an "equal weight" rating in a research report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $98.22.

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.