Banque Pictet & Cie SA Purchases 182,809 Shares of Lam Research Co. (NASDAQ:LRCX)

Banque Pictet & Cie SA grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1,530.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 194,755 shares of the semiconductor company’s stock after acquiring an additional 182,809 shares during the quarter. Banque Pictet & Cie SA’s holdings in Lam Research were worth $14,067,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in LRCX. Creative Planning lifted its stake in Lam Research by 2.5% in the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after buying an additional 1,146 shares during the period. Asset Dedication LLC increased its stake in shares of Lam Research by 469.4% in the 3rd quarter. Asset Dedication LLC now owns 279 shares of the semiconductor company’s stock valued at $228,000 after acquiring an additional 230 shares in the last quarter. Jamison Private Wealth Management Inc. lifted its position in shares of Lam Research by 2,500.0% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 442 shares of the semiconductor company’s stock valued at $361,000 after acquiring an additional 425 shares during the period. Carderock Capital Management Inc. boosted its stake in Lam Research by 3.3% during the third quarter. Carderock Capital Management Inc. now owns 11,192 shares of the semiconductor company’s stock worth $9,134,000 after acquiring an additional 362 shares in the last quarter. Finally, Greater Midwest Financial Group LLC acquired a new stake in Lam Research in the third quarter worth $1,644,000. 84.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LRCX has been the topic of several research reports. Cantor Fitzgerald upgraded shares of Lam Research from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $95.00 to $100.00 in a report on Thursday, January 30th. The Goldman Sachs Group dropped their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. B. Riley reduced their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 target price (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Finally, BNP Paribas raised shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.72.

Lam Research Trading Up 2.1 %

Shares of LRCX stock opened at $83.30 on Friday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The firm has a market cap of $106.93 billion, a P/E ratio of 25.30, a PEG ratio of 1.37 and a beta of 1.46. The company has a 50 day moving average of $77.19 and a 200-day moving average of $77.92. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00.

Lam Research (NASDAQ:LRCX) last released its 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 return on equity of 51.86% and a net margin of 26.49%. Sell-side analysts anticipate that Lam Research Co. will post 3.69 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders 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 yield of 1.10%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.95%.

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.