Lam Research Corporation $LRCX Stock Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 15.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,064,304 shares of the semiconductor company’s stock after buying an additional 411,622 shares during the quarter. Lam Research accounts for 1.0% of Pictet Asset Management Holding SA’s investment portfolio, making the stock its 13th largest holding. Pictet Asset Management Holding SA owned 0.25% of Lam Research worth $1,006,578,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in LRCX. State Street Corp increased its stake in shares of Lam Research by 2.6% during the second quarter. State Street Corp now owns 60,704,130 shares of the semiconductor company’s stock worth $26,320,468,000 after acquiring an additional 1,545,830 shares during the period. Bank of America Corp DE lifted its position in Lam Research by 5.5% in the second quarter. Bank of America Corp DE now owns 11,244,147 shares of the semiconductor company’s stock valued at $4,872,426,000 after purchasing an additional 584,489 shares during the period. Van ECK Associates Corp boosted its holdings in Lam Research by 411.8% in the 2nd quarter. Van ECK Associates Corp now owns 11,089,395 shares of the semiconductor company’s stock valued at $4,805,368,000 after purchasing an additional 8,922,854 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Lam Research in the 2nd quarter valued at approximately $3,777,585,000. Finally, Amundi increased its position in Lam Research by 23.7% during the 1st quarter. Amundi now owns 10,147,479 shares of the semiconductor company’s stock worth $2,168,107,000 after purchasing an additional 1,942,862 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LRCX. Weiss Ratings downgraded Lam Research from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, September 4th. Wall Street Zen upgraded Lam Research from a “hold” rating to a “buy” rating in a research note on Saturday, October 24th. Evercore set a $315.00 price target on Lam Research in a research note on Tuesday, October 20th. Bank of America reaffirmed a “buy” rating and set a $345.00 price objective on shares of Lam Research in a report on Thursday, October 22nd. Finally, Needham & Company LLC cut their price objective on Lam Research from $390.00 to $290.00 and set a “buy” rating for the company in a research report on Thursday, October 22nd. Twenty-six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and an average price target of $360.23.

Insider Activity at Lam Research

In related news, Director Bethany Mayer sold 9,557 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 20,995 shares of the company’s stock, valued at $6,607,966.30. This trade represents a 31.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ava Harter sold 5,000 shares of Lam Research stock in a transaction on 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 transaction, the insider directly owned 42,462 shares of the company’s stock, valued at approximately $12,843,056.52. This represents a 10.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.31% of the company’s stock.

Key Headlines Impacting Lam Research

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

Lam Research Trading Up 8.2%

Shares of LRCX opened at $200.44 on Friday. The company has a current ratio of 2.48, a quick ratio of 1.86 and a debt-to-equity ratio of 0.27. The firm’s 50-day moving average is $284.37 and its two-hundred day moving average is $283.67. Lam Research Corporation has a twelve month low of $135.50 and a twelve month high of $438.50. The firm has a market capitalization of $250.38 billion, a P/E ratio of 29.87, a PEG ratio of 0.74 and a beta of 1.97.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.02. Lam Research had a net margin of 32.34% and a return on equity of 72.15%. The company had revenue of $8.22 billion during the quarter, compared to analysts’ expectations of $8.14 billion. During the same period last year, the company posted $1.26 earnings per share. The firm’s quarterly revenue was up 54.4% compared to the same quarter last year. On average, research analysts predict that Lam Research Corporation will post 9.59 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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

Lam Research announced that its Board of Directors has approved a share buyback plan on Thursday, November 5th that allows the company to buy back $25 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 9% of its stock through open market purchases. Share repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

About Lam Research

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.