Lam Research Co. (NASDAQ:LRCX) Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its stake in Lam Research Co. (NASDAQ:LRCX) by 1,010.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,872,549 shares of the semiconductor company’s stock after purchasing an additional 7,163,580 shares during the quarter. Lam Research comprises about 0.6% of Pictet Asset Management Holding SA’s portfolio, making the stock its 28th biggest holding. Pictet Asset Management Holding SA’s holdings in Lam Research were worth $568,634,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Algert Global LLC raised its holdings in shares of Lam Research by 40.5% in the 3rd quarter. Algert Global LLC now owns 694 shares of the semiconductor company’s stock worth $566,000 after purchasing an additional 200 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Lam Research in the 3rd quarter worth about $220,000. Loomis Sayles & Co. L P acquired a new position in Lam Research in the 3rd quarter valued at approximately $486,000. Qsemble Capital Management LP acquired a new stake in shares of Lam Research during the 3rd quarter valued at about $267,000. Finally, Townsquare Capital LLC lifted its stake in shares of Lam Research by 20.9% in the 3rd quarter. Townsquare Capital LLC now owns 7,591 shares of the semiconductor company’s stock valued at $6,195,000 after purchasing an additional 1,310 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Trading Down 1.7 %

NASDAQ:LRCX opened at $74.81 on Friday. The business has a 50 day moving average price of $79.66 and a two-hundred day moving average price of $77.32. 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 twelve month low of $68.87 and a twelve month high of $113.00. The company has a market cap of $96.03 billion, a P/E ratio of 22.72, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating the consensus estimate 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, analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.23%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is 27.96%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. The Goldman Sachs Group lowered their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Oppenheimer started coverage on Lam Research in a report on Thursday, March 20th. They set an “outperform” rating and a $95.00 price objective on the stock. Finally, Morgan Stanley raised their target price on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $98.06.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by corporate insiders.

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.