5,176 Shares in Lam Research Co. (NASDAQ:LRCX) Purchased by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG bought a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the first quarter, HoldingsChannel reports. The institutional investor bought 5,176 shares of the semiconductor company’s stock, valued at approximately $376,000.

Other hedge funds have also recently bought and sold shares of the company. Fairway Wealth LLC grew its holdings in Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 306 shares during the period. Financial Perspectives Inc increased its stake in Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 309 shares in the last quarter. West Paces Advisors Inc. purchased a new position in Lam Research in the 4th quarter worth about $27,000. Mpwm Advisory Solutions LLC purchased a new position in Lam Research in the 4th quarter worth about $27,000. Finally, Midwest Capital Advisors LLC purchased a new position in Lam Research in the 4th quarter worth about $27,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Up 4.3%

Shares of Lam Research stock opened at $93.41 on Tuesday. The firm has a market cap of $119.48 billion, a price-to-earnings ratio of 28.37, a P/E/G ratio of 1.47 and a beta of 1.65. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a 52-week low of $56.32 and a 52-week high of $113.00. The stock has a 50-day simple moving average of $77.79 and a 200-day simple moving average of $77.18.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. The business had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The firm’s revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the company earned $7.79 EPS. On average, equities research analysts expect that Lam Research Co. will post 3.71 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, July 9th. Stockholders of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.98%. Lam Research’s dividend payout ratio is 25.63%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on LRCX shares. Wells Fargo & Company dropped their price target on Lam Research from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. UBS Group dropped their price target on Lam Research from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Jefferies Financial Group lifted their price target on Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, March 28th. Morgan Stanley lifted their price target on Lam Research from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 24th. Finally, Barclays dropped their price target on Lam Research from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average target price of $90.87.

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.