Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in Lam Research Co. (NASDAQ:LRCX)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Lam Research Co. (NASDAQ:LRCX) by 160.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 87,147 shares of the semiconductor company’s stock after acquiring an additional 53,688 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Lam Research worth $20,141,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of LRCX. Lcnb Corp boosted its position in shares of Lam Research by 2.2% in the second quarter. Lcnb Corp now owns 2,306 shares of the semiconductor company’s stock worth $433,000 after buying an additional 50 shares during the period. Wealthfront Advisers LLC boosted its position in shares of Lam Research by 1.2% in the third quarter. Wealthfront Advisers LLC now owns 4,374 shares of the semiconductor company’s stock worth $1,011,000 after buying an additional 50 shares during the period. Cypress Capital LLC boosted its position in shares of Lam Research by 1.4% in the second quarter. Cypress Capital LLC now owns 4,126 shares of the semiconductor company’s stock worth $775,000 after buying an additional 56 shares during the period. Confluence Wealth Management LLC boosted its position in shares of Lam Research by 2.0% in the second quarter. Confluence Wealth Management LLC now owns 2,906 shares of the semiconductor company’s stock worth $546,000 after buying an additional 56 shares during the period. Finally, V Wealth Advisors LLC boosted its position in shares of Lam Research by 0.5% in the second quarter. V Wealth Advisors LLC now owns 11,960 shares of the semiconductor company’s stock worth $2,261,000 after buying an additional 65 shares during the period. 88.37% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:LRCX traded down $2.40 during trading on Friday, hitting $233.70. The company’s stock had a trading volume of 1,468,740 shares, compared to its average volume of 1,633,380. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.96 and a current ratio of 3.61. Lam Research Co. has a fifty-two week low of $122.64 and a fifty-two week high of $244.98. The stock’s 50-day moving average price is $230.88 and its two-hundred day moving average price is $202.72. The company has a market capitalization of $34.20 billion, a PE ratio of 16.06, a PEG ratio of 1.60 and a beta of 1.65.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $3.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.40 by $0.22. Lam Research had a return on equity of 43.72% and a net margin of 22.70%. The firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter in the prior year, the firm posted $5.31 earnings per share. Lam Research’s revenue for the quarter was down 24.5% compared to the same quarter last year. On average, equities analysts predict that Lam Research Co. will post 13.54 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Tuesday, October 1st were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.97%. This is a boost from Lam Research’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Monday, September 30th. Lam Research’s dividend payout ratio is presently 31.62%.

Several brokerages have recently weighed in on LRCX. Nomura began coverage on Lam Research in a research report on Wednesday, September 18th. They issued a “neutral” rating and a $216.00 target price for the company. Royal Bank of Canada reiterated a “buy” rating on shares of Lam Research in a research note on Wednesday, August 7th. Citigroup boosted their price target on Lam Research from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. KeyCorp boosted their price target on Lam Research from $236.00 to $252.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, DA Davidson cut Lam Research from a “buy” rating to a “neutral” rating and cut their price target for the stock from $225.00 to $200.00 in a research note on Monday, July 8th. Twelve analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $227.06.

In other news, SVP Sarah A. O’dowd sold 22,140 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $233.77, for a total transaction of $5,175,667.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Abhijit Y. Talwalkar sold 3,987 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $210.00, for a total value of $837,270.00. The disclosure for this sale can be found here. Insiders have sold a total of 67,997 shares of company stock worth $15,654,855 over the last quarter. Insiders own 0.43% of the company’s stock.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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

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