Pictet Asset Management Holding SA Has $588.64 Million Stake in Lam Research Corporation (NASDAQ:LRCX)

Pictet Asset Management Holding SA boosted its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 2.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,096,940 shares of the semiconductor company's stock after acquiring an additional 224,391 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.63% of Lam Research worth $588,642,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in LRCX. Jackson Creek Investment Advisors LLC grew its position in shares of Lam Research by 62.1% during the 1st quarter. Jackson Creek Investment Advisors LLC now owns 10,009 shares of the semiconductor company's stock worth $728,000 after buying an additional 3,835 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Lam Research by 368.4% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,367 shares of the semiconductor company's stock worth $681,000 after buying an additional 7,367 shares during the period. Creekmur Asset Management LLC grew its position in shares of Lam Research by 8,100.0% during the 1st quarter. Creekmur Asset Management LLC now owns 8,200 shares of the semiconductor company's stock worth $596,000 after buying an additional 8,100 shares during the period. Commerzbank Aktiengesellschaft FI grew its position in shares of Lam Research by 16.2% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 12,035 shares of the semiconductor company's stock worth $875,000 after buying an additional 1,678 shares during the period. Finally, Forum Financial Management LP grew its position in shares of Lam Research by 9.4% during the 1st quarter. Forum Financial Management LP now owns 5,928 shares of the semiconductor company's stock worth $431,000 after buying an additional 511 shares during the period. Institutional investors own 84.61% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on LRCX shares. TD Securities lowered their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Mizuho lifted their price target on shares of Lam Research from $100.00 to $115.00 and gave the stock an "outperform" rating in a research report on Monday. Evercore ISI lifted their price target on shares of Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Cantor Fitzgerald reissued an "overweight" rating and set a $115.00 price objective (up previously from $90.00) on shares of Lam Research in a research note on Tuesday, June 24th. Finally, B. Riley reissued a "buy" rating and set a $115.00 price objective (up previously from $95.00) on shares of Lam Research in a research note on Wednesday, June 18th. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Lam Research presently has a consensus rating of "Moderate Buy" and an average target price of $99.14.

Lam Research Stock Down 0.1%

LRCX traded down $0.13 during trading on Friday, reaching $100.66. The company had a trading volume of 8,114,872 shares, compared to its average volume of 12,310,280. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. Lam Research Corporation has a 12 month low of $56.32 and a 12 month high of $102.19. The business's fifty day moving average price is $91.10 and its 200 day moving average price is $80.82. The company has a market cap of $128.76 billion, a P/E ratio of 28.05, a PEG ratio of 1.42 and a beta of 1.68.

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

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were issued a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.91%. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

Lam Research Company 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.