Pictet Asset Management Holding SA Sells 2,608,015 Shares of Lam Research Corporation $LRCX

Key Points

• Pictet Asset Management cut its Lam Research stake by 38.4%, selling 2,608,015 shares and trimming its holding to 4,175,648 shares worth about $714.9M (Lam is Pictet's 25th-largest holding).
• Lam Research beat Q3 expectations with $1.47 EPS (vs. $1.36 est.) and $5.84B revenue, issued strong AI-driven guidance, and saw multiple analyst price-target upgrades that leave a consensus rating of "Moderate Buy" with an average target near $284.49.
• Insiders sold a total of 130,886 shares (~$29.7M) over the past three months, even as institutional investors own about 84.6% of the stock and insiders hold just 0.31%.

Pictet Asset Management Holding SA lessened its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 38.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,175,648 shares of the semiconductor company's stock after selling 2,608,015 shares during the period. Lam Research comprises approximately 0.7% of Pictet Asset Management Holding SA's holdings, making the stock its 25th biggest holding. Pictet Asset Management Holding SA owned about 0.33% of Lam Research worth $714,927,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in LRCX. Vanguard Group Inc. lifted its holdings in Lam Research by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 130,974,214 shares of the semiconductor company's stock valued at $17,537,447,000 after purchasing an additional 364,949 shares during the last quarter. State Street Corp boosted its position in Lam Research by 0.4% in the third quarter. State Street Corp now owns 59,817,352 shares of the semiconductor company's stock valued at $8,024,684,000 after buying an additional 265,805 shares in the last quarter. Invesco Ltd. grew its stake in Lam Research by 18.2% during the third quarter. Invesco Ltd. now owns 21,182,948 shares of the semiconductor company's stock worth $2,836,397,000 after buying an additional 3,263,658 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Lam Research by 781.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 11,340,865 shares of the semiconductor company's stock worth $1,518,542,000 after buying an additional 10,053,978 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Lam Research by 6.8% during the third quarter. Nordea Investment Management AB now owns 11,312,752 shares of the semiconductor company's stock worth $1,512,854,000 after buying an additional 718,178 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

Insider Buying and Selling

In other Lam Research news, Director Eric Brandt sold 35,000 shares of the business's stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $225.60, for a total transaction of $7,896,000.00. Following the completion of the sale, the director directly owned 253,705 shares of the company's stock, valued at approximately $57,235,848. The trade was a 12.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Douglas R. Bettinger sold 50,057 shares of the company's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $224.03, for a total transaction of $11,214,269.71. Following the transaction, the chief financial officer owned 1,081,705 shares in the company, valued at approximately $242,334,371.15. The trade was a 4.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 130,886 shares of company stock worth $29,658,802 over the last three months. 0.31% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LRCX. Stifel Nicolaus lifted their target price on shares of Lam Research from $300.00 to $325.00 and gave the company a "buy" rating in a research note on Thursday. Oppenheimer restated an "outperform" rating and set a $330.00 price target on shares of Lam Research in a research report on Thursday. New Street Research raised their price target on Lam Research from $140.00 to $235.00 and gave the company a "neutral" rating in a report on Tuesday, March 31st. Erste Group Bank downgraded Lam Research from a "buy" rating to a "hold" rating in a research report on Thursday, April 2nd. Finally, Needham & Company LLC reissued a "buy" rating and issued a $300.00 price objective on shares of Lam Research in a research note on Thursday. Twenty-six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $284.49.

Lam Research Price Performance

NASDAQ:LRCX opened at $267.78 on Monday. The company has a market cap of $334.88 billion, a price-to-earnings ratio of 50.52, a P/E/G ratio of 2.27 and a beta of 1.78. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.77 and a current ratio of 2.54. The stock's fifty day moving average price is $234.99 and its two-hundred day moving average price is $198.63. Lam Research Corporation has a 52-week low of $68.53 and a 52-week high of $275.84.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.36 by $0.11. The company had revenue of $5.84 billion during the quarter, compared to analysts' expectations of $5.70 billion. Lam Research had a return on equity of 66.21% and a net margin of 30.94%.The business's revenue for the quarter was up 23.8% on a year-over-year basis. During the same period last year, the firm earned $1.04 EPS. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. On average, analysts anticipate that Lam Research Corporation will post 5.53 EPS for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 8th. Investors of record on Wednesday, March 4th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Wednesday, March 4th. Lam Research's dividend payout ratio (DPR) is presently 19.62%.

Key Stories Impacting Lam Research

Here are the key news stories impacting Lam Research this week:

• Positive Sentiment: Q3 results beat expectations (EPS $1.47, revenue $5.84B) and management gave strong FY guidance tied to AI demand — investors view this as confirmation of a multi-year WFE upcycle. Earnings & press coverage
• Positive Sentiment: Major analysts have lifted price targets across the board (examples: TD Cowen $340, Susquehanna $385, JPMorgan $315, BofA $330), signaling upgraded revenue and margin forecasts driven by AI memory and logic chip spending. Analyst target upgrades
• Positive Sentiment: Several bank research notes reiterated buy/outperform ratings and sizable upside, reinforcing momentum and prompting institutional buyers to add exposure. Deutsche Bank price target raise
• Neutral Sentiment: Broad market action (Dow slip while Nasdaq gains) and strong moves in other chip names (Intel, AMD, Arm) contributed to sector flow into semiconductor-equipment names including LRCX. Market breadth coverage
• Neutral Sentiment: Not all firms moved to buy: a few kept neutral/equal-weight stances (e.g., Morgan Stanley, BNP Paribas), showing some analysts want to see more cycles of delivery before upgrading conviction. Morgan Stanley note
• Negative Sentiment: Valuation concerns: commentary and analysis warn the stock reflects a lot of AI upside already — some investors may view multiple and momentum as stretched, which could amplify pullbacks on any growth-slow surprises. Valuation caution analysis

Lam Research Profile

Lam Research Corporation NASDAQ: LRCX is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.

Lam's product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.

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