Bank Pictet & Cie Europe AG Buys Shares of 5,176 Lam Research Corporation (NASDAQ:LRCX)

Bank Pictet & Cie Europe AG acquired a new stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 5,176 shares of the semiconductor company's stock, valued at approximately $376,000.

Several other hedge funds and other institutional investors have also made changes to their positions in LRCX. Financial Perspectives Inc lifted its stake in Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 309 shares during the last quarter. Fairway Wealth LLC lifted its stake in Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 306 shares during the last quarter. Midwest Capital Advisors LLC purchased a new stake in Lam Research during the fourth quarter worth approximately $27,000. West Paces Advisors Inc. purchased a new stake in Lam Research during the fourth quarter worth approximately $27,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in Lam Research during the fourth quarter worth approximately $27,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on LRCX. Jefferies Financial Group boosted their target price on Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Mizuho boosted their target price on Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Morgan Stanley lifted their price target on Lam Research from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. Wells Fargo & Company cut their price target on Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft set a $70.00 price target on Lam Research and gave the stock a "hold" rating in a research report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.78.

Lam Research Stock Performance

Shares of NASDAQ:LRCX traded down $0.42 during trading on Thursday, reaching $92.24. The company had a trading volume of 9,373,055 shares, compared to its average volume of 12,291,497. The firm has a market capitalization of $117.99 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 1.30 and a beta of 1.65. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. The stock's fifty day moving average price is $79.16 and its 200 day moving average price is $77.49. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The firm had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the prior year, the company posted $7.79 earnings per share. Lam Research's quarterly revenue was up 24.4% on a year-over-year basis. As a group, equities research analysts predict that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Wednesday, June 18th. Lam Research's dividend payout ratio is presently 25.63%.

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.