Lam Research Corporation (NASDAQ:LRCX – Get Free Report) dropped 6.3% during trading on Wednesday . The company traded as low as $305.08 and last traded at $307.17. 9,943,609 shares were traded during trading, a decline of 12% from the average session volume of 11,243,897 shares. The stock had previously closed at $327.92.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on LRCX. Morgan Stanley dropped their target price on Lam Research from $404.00 to $367.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Royal Bank Of Canada raised their price target on shares of Lam Research from $290.00 to $310.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Mizuho boosted their price objective on shares of Lam Research from $380.00 to $400.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Raymond James Financial set a $425.00 price objective on shares of Lam Research in a research note on Wednesday, June 10th. Finally, Rothschild & Co Redburn increased their target price on shares of Lam Research from $305.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $358.47.
View Our Latest Analysis on Lam Research
Lam Research Price Performance
Lam Research (NASDAQ:LRCX – Get Free Report) last posted its earnings results on Wednesday, July 29th. The semiconductor company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.13. Lam Research had a return on equity of 67.60% and a net margin of 31.27%.The company had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.66 billion. During the same period last year, the company earned $1.33 earnings per share. The business’s revenue was up 30.0% compared to the same quarter last year. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. On average, equities analysts anticipate that Lam Research Corporation will post 9.32 earnings per share for the current year.
Insider Activity
In other Lam Research news, SVP Neil J. Fernandes sold 7,659 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $309.60, for a total transaction of $2,371,226.40. Following the transaction, the senior vice president owned 58,470 shares in the company, valued at $18,102,312. This trade represents a 11.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Abhijit Y. Talwalkar sold 18,282 shares of Lam Research stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $335.00, for a total transaction of $6,124,470.00. Following the completion of the transaction, the director directly owned 87,142 shares in the company, valued at approximately $29,192,570. This represents a 17.34% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 80,441 shares of company stock valued at $27,614,296. Insiders own 0.31% of the company’s stock.
Institutional Investors Weigh In On Lam Research
Several hedge funds have recently modified their holdings of LRCX. Norges Bank bought a new position in shares of Lam Research during the 4th quarter worth about $3,645,427,000. Price T Rowe Associates Inc. MD boosted its position in shares of Lam Research by 352.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,695,210 shares of the semiconductor company’s stock valued at $2,344,347,000 after acquiring an additional 10,666,540 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Lam Research in the second quarter valued at about $3,777,585,000. Franklin Resources Inc. increased its stake in Lam Research by 57.0% in the fourth quarter. Franklin Resources Inc. now owns 10,110,560 shares of the semiconductor company’s stock valued at $1,730,724,000 after acquiring an additional 3,671,073 shares during the period. Finally, Corient Private Wealth LLC raised its position in Lam Research by 235.5% in the fourth quarter. Corient Private Wealth LLC now owns 5,199,441 shares of the semiconductor company’s stock worth $890,040,000 after purchasing an additional 3,649,553 shares in the last quarter. 84.61% of the stock is owned by institutional investors.
About Lam Research
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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