Pictet Asset Management Holding SA Raises Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Pictet Asset Management Holding SA grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1,010.4% during the fourth quarter, according to the company in its most recent 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 makes up about 0.6% of Pictet Asset Management Holding SA’s investment portfolio, making the stock its 28th biggest position. Pictet Asset Management Holding SA owned 0.61% of Lam Research worth $568,634,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Financial Perspectives Inc boosted its holdings in shares of Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 309 shares during the last quarter. Fairway Wealth LLC raised its position in shares of Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after buying an additional 306 shares during the period. Atwood & Palmer Inc. acquired a new position in Lam Research in the fourth quarter valued at $27,000. Midwest Capital Advisors LLC purchased a new stake in Lam Research during the fourth quarter valued at about $27,000. Finally, Bell Investment Advisors Inc increased its stake in Lam Research by 836.6% during the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 343 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research 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 sale, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

LRCX has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Lam Research in a report on Thursday, January 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 target price on shares of Lam Research in a research note on Tuesday, February 18th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Barclays cut their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Wells Fargo & Company upped their target price on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.06.

Lam Research Price Performance

Shares of LRCX opened at $74.81 on Friday. The firm has a market cap of $96.03 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 1.47 and a beta of 1.53. The stock has a 50 day moving average of $79.66 and a 200-day moving average of $77.32. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, analysts forecast that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders 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 dividend yield of 1.23%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

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.