Professional Advisory Services Inc. decreased its position in shares of Lam Research Corporation (NASDAQ:LRCX – Free Report) by 5.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,275 shares of the semiconductor company’s stock after selling 1,827 shares during the period. Lam Research makes up approximately 1.1% of Professional Advisory Services Inc.’s holdings, making the stock its 27th largest holding. Professional Advisory Services Inc.’s holdings in Lam Research were worth $9,617,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Paladin Partners LLC bought a new position in Lam Research during the second quarter valued at approximately $26,000. Quintet Private Bank Europe S.A. lifted its holdings in shares of Lam Research by 100.0% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 100 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 50 shares during the last quarter. Bravera Wealth purchased a new stake in shares of Lam Research in the 2nd quarter valued at $46,000. Cedar Mountain Advisors LLC grew its holdings in shares of Lam Research by 242.9% during the 1st quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 85 shares during the last quarter. Finally, Comprehensive Financial Planning Inc. PA bought a new position in shares of Lam Research during the 2nd quarter valued at $52,000. 84.61% of the stock is currently owned by institutional investors.
Lam Research Trading Down 2.7%
NASDAQ LRCX traded down $8.92 during trading on Thursday, hitting $320.59. The company had a trading volume of 8,995,183 shares, compared to its average volume of 10,727,219. The company’s fifty day moving average is $310.47 and its 200-day moving average is $305.77. Lam Research Corporation has a one year low of $131.02 and a one year high of $438.50. The company has a current ratio of 2.63, a quick ratio of 1.91 and a debt-to-equity ratio of 0.30. The company has a market cap of $401.19 billion, a price-to-earnings ratio of 55.66, a price-to-earnings-growth ratio of 1.32 and a beta of 1.85.
Lam Research Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 23rd will be given a dividend of $0.33 per share. This is an increase from Lam Research’s previous quarterly dividend of $0.26. This represents a $1.32 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, September 23rd. Lam Research’s payout ratio is 22.92%.
Lam Research News Summary
Here are the key news stories impacting Lam Research this week:
- Positive Sentiment: Lam Research remains a major beneficiary of AI-related chip investment, including demand for advanced packaging, high-bandwidth memory and semiconductor manufacturing equipment. The stock has gained approximately 73% year to date and was identified as one of the leading return-on-equity stocks. Is Lam Research a Smart AI Stock Pick?
- Positive Sentiment: Recent investment commentary highlighted Lam alongside NVIDIA, Applied Materials and TSMC as companies with dependable earnings and durable growth prospects from the AI semiconductor cycle. Top Chip Stocks to Ride the AI Boom
- Positive Sentiment: Lam’s latest reported quarter showed strong execution: earnings per share and revenue exceeded consensus estimates, with revenue up 30% year over year. Management also provided quarterly EPS guidance of $2.00 to $2.30, supporting the growth narrative.
Insider Activity
In other Lam Research news, insider Ava Harter sold 5,000 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $302.46, for a total value of $1,512,300.00. Following the sale, the insider owned 42,462 shares in the company, valued at approximately $12,843,056.52. This represents a 10.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 9,557 shares of Lam Research stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the transaction, the director owned 20,995 shares of the company’s stock, valued at $6,607,966.30. The trade was a 31.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 32,839 shares of company stock worth $10,644,740. Corporate insiders own 0.31% of the company’s stock.
Analysts Set New Price Targets
Several analysts have weighed in on the stock. Jefferies Financial Group set a $335.00 price target on shares of Lam Research and gave the stock a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings lowered Lam Research from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, September 4th. Bank of America increased their target price on Lam Research from $330.00 to $480.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Rothschild & Co Redburn lifted their price target on Lam Research from $305.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Finally, Citigroup reiterated a “buy” rating and issued a $450.00 price objective (up from $315.00) on shares of Lam Research in a research report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $364.59.
Get Our Latest Stock Report on Lam Research
Lam Research Profile
Lam Research Corporation is a semiconductor equipment company that designs, manufactures, and services systems used in the fabrication of integrated circuits and other electronic devices. Its equipment supports key steps in the wafer manufacturing process, helping semiconductor producers create increasingly small and complex features on silicon wafers.
The company’s portfolio includes systems for etch, deposition, wafer cleaning, surface preparation, and related manufacturing processes.
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