Pictet Asset Management Holding SA Increases Stake in Lam Research Co. (NASDAQ:LRCX)

Pictet Asset Management Holding SA boosted its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 1,010.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,872,549 shares of the semiconductor company's stock after purchasing an additional 7,163,580 shares during the quarter. Lam Research makes up 0.6% of Pictet Asset Management Holding SA's holdings, making the stock its 28th largest position. Pictet Asset Management Holding SA owned about 0.61% of Lam Research worth $568,634,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of LRCX. Parisi Gray Wealth Management grew its stake in Lam Research by 652.9% in the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company's stock valued at $603,000 after acquiring an additional 7,241 shares during the period. Burns J W & Co. Inc. NY acquired a new stake in shares of Lam Research in the fourth quarter valued at about $815,000. Centerpoint Advisors LLC increased its stake in shares of Lam Research by 900.0% during the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock worth $72,000 after purchasing an additional 900 shares in the last quarter. Worldquant Millennium Advisors LLC raised its position in shares of Lam Research by 51.9% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company's stock worth $175,800,000 after purchasing an additional 73,648 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its holdings in Lam Research by 4,085.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 13,395 shares of the semiconductor company's stock worth $10,932,000 after buying an additional 13,075 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of brokerages have commented on LRCX. Barclays reduced their target price on Lam Research from $90.00 to $75.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. Wolfe Research lowered Lam Research from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 15th. Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 target price on shares of Lam Research in a report on Thursday, January 30th. Wells Fargo & Company raised their price target on shares of Lam Research from $82.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group cut their price objective on shares of Lam Research from $96.00 to $85.00 and set a "buy" rating for the company in a report on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Lam Research currently has an average rating of "Moderate Buy" and an average price target of $97.59.

Lam Research Trading Down 0.5 %

Shares of NASDAQ:LRCX traded down $0.36 during mid-day trading on Tuesday, reaching $72.34. 3,803,127 shares of the company were exchanged, compared to its average volume of 11,677,305. The firm has a market cap of $92.86 billion, a price-to-earnings ratio of 22.05, a P/E/G ratio of 1.47 and a beta of 1.53. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The firm's 50-day simple moving average is $79.35 and its 200 day simple moving average is $77.31.

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 for the quarter, beating 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 research analysts forecast that Lam Research Co. will post 3.71 EPS for the current 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 paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.27%. Lam Research's dividend payout ratio (DPR) is presently 27.96%.

Insider Activity

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.29% of the company's stock.

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.