Pictet Asset Management Holding SA Acquires 411,622 Shares of Lam Research Corporation $LRCX

Pictet Asset Management Holding SA grew its holdings in Lam Research Corporation (NASDAQ:LRCX) by 15.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,064,304 shares of the semiconductor company’s stock after purchasing an additional 411,622 shares during the quarter. Lam Research makes up approximately 1.0% of Pictet Asset Management Holding SA’s portfolio, making the stock its 13th largest holding. Pictet Asset Management Holding SA’s holdings in Lam Research were worth $1,006,578,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Paladin Partners LLC purchased a new stake in Lam Research in the 2nd quarter valued at approximately $26,000. William Mack & Associates Inc. acquired a new stake in Lam Research during the 3rd quarter valued at $25,000. Dakota Community Bank & Trust NA purchased a new position in Lam Research during the third quarter worth $33,000. Quintet Private Bank Europe S.A. increased its position in Lam Research by 100.0% during the third quarter. Quintet Private Bank Europe S.A. now owns 100 shares of the semiconductor company’s stock worth $33,000 after buying an additional 50 shares in the last quarter. Finally, Bravera Wealth purchased a new position in Lam Research during the second quarter worth $46,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Lam Research news, Director Bethany Mayer sold 9,557 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $314.74, for a total value of $3,007,970.18. Following the sale, the director directly owned 20,995 shares of the company’s stock, valued at approximately $6,607,966.30. This trade represents a 31.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ava Harter sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $302.46, for a total value of $1,512,300.00. Following the completion of the sale, the insider directly owned 42,462 shares in the company, valued at approximately $12,843,056.52. The trade was a 10.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.31% of the company’s stock.

Lam Research Trading Up 8.2%

Shares of LRCX opened at $200.44 on Friday. The stock has a fifty day moving average of $284.37 and a two-hundred day moving average of $283.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.86 and a current ratio of 2.48. The company has a market capitalization of $250.38 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 0.74 and a beta of 1.97. Lam Research Corporation has a fifty-two week low of $135.50 and a fifty-two week high of $438.50.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.02. Lam Research had a return on equity of 72.15% and a net margin of 32.34%. The business had revenue of $8.22 billion for the quarter, compared to analysts’ expectations of $8.14 billion. During the same quarter last year, the firm earned $1.26 earnings per share. The business’s revenue was up 54.4% on a year-over-year basis. As a group, analysts forecast that Lam Research Corporation will post 9.59 EPS for the current year.

Lam Research announced that its board has initiated a share repurchase plan on Thursday, November 5th that authorizes the company to repurchase $25 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 9% of its shares through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 6th. Investors of record on Wednesday, December 2nd will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, December 2nd. This represents a $1.32 annualized dividend and a yield of 0.7%. Lam Research’s dividend payout ratio is 19.67%.

More Lam Research News

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

• Positive Sentiment: The authorization allows Lam Research to repurchase up to about 9% of its shares. Investors may view the plan as a sign of management confidence and a potential source of support for per-share earnings. Lam Research Shares Gain on $25 Billion Buyback Authorization
• Positive Sentiment: The company also declared a quarterly dividend of $0.33 per share, payable January 6 to shareholders of record December 2. Lam Research Corporation Announces $25 Billion Share Repurchase Authorization and Declares Quarterly Dividend
• Neutral Sentiment: The buyback has drawn attention to LRCX’s significant presence in semiconductor, technology and Nasdaq-100 funds; overlapping holdings could amplify the stock’s effect on investors’ portfolios in either direction. Own a Semiconductor ETF? Lam Research’s Buyback Move Affects You
• Negative Sentiment: Broader chip-sector volatility remains a risk: recent coverage cited concerns about AI-related spending, possible capital-expenditure slowdowns, regulation and investor profit-taking. Those worries could temper gains if they persist. Chip Stocks Just Had Their Second-Worst Day on Record

Analysts Set New Price Targets

A number of research firms have recently weighed in on LRCX. Fundamental Research set a $390.00 price target on Lam Research in a report on Thursday, October 1st. Wells Fargo & Company reaffirmed an “overweight” rating and set a $350.00 price objective (down from $450.00) on shares of Lam Research in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $375.00 price objective on shares of Lam Research in a research report on Monday, October 19th. Bank of America reissued a “buy” rating and issued a $345.00 target price on shares of Lam Research in a research note on Thursday, October 22nd. Finally, Needham & Company LLC reduced their target price on shares of Lam Research from $390.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, October 22nd. Twenty-six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $360.23.

Lam Research Profile

Lam Research is a global supplier of equipment and services used to manufacture semiconductors. Its products help chipmakers create and process the microscopic structures that form integrated circuits.

The company’s wafer fabrication equipment is used for processes including etch, thin-film deposition and wafer cleaning. Lam also provides services such as equipment maintenance, upgrades, spare parts and other support for chip manufacturing operations.

Founded in 1980 and headquartered in Fremont, California, Lam Research serves semiconductor manufacturers around the world.