Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Lam Research Co. (NASDAQ:LRCX) by 6.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 56,127 shares of the semiconductor company’s stock after buying an additional 3,366 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lam Research were worth $45,804,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its position in shares of Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after acquiring an additional 15,005,178 shares in the last quarter. Foster Victor Wealth Advisors LLC increased its holdings in shares of Lam Research by 994.1% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company’s stock worth $190,066,000 after purchasing an additional 211,614 shares in the last quarter. Bridgewater Associates LP raised its stake in shares of Lam Research by 315.0% in the third quarter. Bridgewater Associates LP now owns 276,052 shares of the semiconductor company’s stock worth $225,281,000 after purchasing an additional 209,537 shares during the last quarter. Panagora Asset Management Inc. raised its stake in shares of Lam Research by 208.2% in the second quarter. Panagora Asset Management Inc. now owns 175,616 shares of the semiconductor company’s stock worth $187,005,000 after purchasing an additional 118,634 shares during the last quarter. Finally, Tairen Capital Ltd lifted its holdings in shares of Lam Research by 199.5% during the second quarter. Tairen Capital Ltd now owns 163,605 shares of the semiconductor company’s stock valued at $174,215,000 after purchasing an additional 108,973 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

LRCX has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Mizuho cut their target price on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Wells Fargo & Company dropped their price target on Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Finally, B. Riley reduced their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.97.

Lam Research Stock Performance

NASDAQ LRCX opened at $71.57 on Friday. The stock has a market capitalization of $92.09 billion, a PE ratio of 23.13, a P/E/G ratio of 1.14 and a beta of 1.48. Lam Research Co. has a 1-year low of $68.72 and a 1-year high of $113.00. The business has a 50 day simple moving average of $76.62 and a two-hundred day simple moving average of $86.79. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same quarter last year, the business earned $6.85 earnings per share. Lam Research’s quarterly revenue was up 19.7% compared to the same quarter last year. On average, research analysts predict that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.29%. Lam Research’s payout ratio is currently 29.74%.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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.