Zurcher Kantonalbank Zurich Cantonalbank Has $41.79 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in Lam Research Co. (NASDAQ:LRCX) by 32.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,354 shares of the semiconductor company’s stock after selling 25,473 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lam Research were worth $41,790,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in LRCX. Valued Wealth Advisors LLC bought a new stake in shares of Lam Research during the fourth quarter valued at approximately $30,000. Orion Capital Management LLC bought a new stake in shares of Lam Research during the third quarter valued at approximately $25,000. BluePath Capital Management LLC bought a new stake in shares of Lam Research during the third quarter valued at approximately $28,000. Asset Dedication LLC increased its holdings in shares of Lam Research by 56.7% during the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 17 shares in the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of Lam Research during the third quarter valued at approximately $30,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock valued at $6,559,489 in the last 90 days. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

LRCX has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Lam Research in a report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 price objective for the company. TD Cowen upped their price target on Lam Research from $710.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. The Goldman Sachs Group upped their price target on Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Raymond James upped their price target on Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, UBS Group upped their price target on Lam Research from $885.00 to $1,130.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and an average target price of $875.55.

Lam Research Stock Down 1.2 %

Shares of NASDAQ LRCX opened at $951.83 on Wednesday. Lam Research Co. has a one year low of $482.74 and a one year high of $1,007.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. The business’s fifty day moving average price is $944.50 and its 200-day moving average price is $796.73. The stock has a market capitalization of $124.78 billion, a PE ratio of 37.25, a P/E/G ratio of 3.43 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, beating analysts’ consensus estimates of $7.06 by $0.46. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The firm had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the prior year, the firm earned $10.71 EPS. The business’s revenue for the quarter was down 28.8% compared to the same quarter last year. On average, equities research analysts anticipate that Lam Research Co. will post 28.9 EPS for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.84%. Lam Research’s dividend payout ratio is presently 30.94%.

Lam Research 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.