TrinityBridge Ltd reduced its stake in Lam Research Corporation (NASDAQ:LRCX – Free Report) by 18.3% during the third quarter, Holdings Channel.com reports. The firm owned 477,440 shares of the semiconductor company’s stock after selling 107,213 shares during the period. Lam Research accounts for about 4.6% of TrinityBridge Ltd’s portfolio, making the stock its 5th largest position. TrinityBridge Ltd’s holdings in Lam Research were worth $156,903,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of LRCX. Van ECK Associates Corp boosted its stake in shares of Lam Research by 411.8% during the second 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 during the period. Bank of New York Mellon Corp purchased a new position in shares of Lam Research in the second quarter worth $3,777,585,000. Jennison Associates LLC increased its stake in shares of Lam Research by 296.9% in the first quarter. Jennison Associates LLC now owns 3,373,306 shares of the semiconductor company’s stock worth $720,740,000 after buying an additional 2,523,351 shares during the period. California Public Employees Retirement System raised its holdings in Lam Research by 50.6% during the 1st quarter. California Public Employees Retirement System now owns 5,870,899 shares of the semiconductor company’s stock valued at $1,254,376,000 after buying an additional 1,972,277 shares during the last quarter. Finally, Amundi raised its holdings in Lam Research by 23.7% during the 1st quarter. Amundi now owns 10,147,479 shares of the semiconductor company’s stock valued at $2,168,107,000 after buying an additional 1,942,862 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts have weighed in on LRCX shares. Evercore set a $315.00 price target on shares of Lam Research in a research report on Tuesday, October 20th. Mizuho lowered their price objective on shares of Lam Research from $365.00 to $360.00 and set an “outperform” rating for the company in a research note on Thursday, October 22nd. Fundamental Research set a $390.00 target price on shares of Lam Research in a report on Thursday, October 1st. Citigroup reissued a “buy” rating and issued a $435.00 target price (down from $450.00) on shares of Lam Research in a research note on Thursday, October 22nd. Finally, UBS Group restated a “buy” rating and set a $400.00 price target (down from $425.00) on shares of Lam Research in a report on Thursday, October 22nd. Twenty-six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $360.23.
Read Our Latest Analysis on Lam Research
Lam Research Stock Performance
NASDAQ:LRCX opened at $230.72 on Wednesday. The company has a quick ratio of 1.86, a current ratio of 2.48 and a debt-to-equity ratio of 0.27. The firm’s fifty day simple moving average is $291.15 and its 200 day simple moving average is $283.95. The stock has a market cap of $288.21 billion, a P/E ratio of 34.38, a price-to-earnings-growth ratio of 0.84 and a beta of 1.97. Lam Research Corporation has a twelve month low of $135.50 and a twelve month high of $438.50.
Lam Research (NASDAQ:LRCX – Get Free Report) last issued its quarterly earnings data on Wednesday, October 21st. The semiconductor company reported $2.20 EPS for the quarter, topping the consensus estimate of $2.18 by $0.02. Lam Research had a net margin of 32.34% and a return on equity of 72.15%. The business had revenue of $8.22 billion during the quarter, compared to analyst estimates of $8.14 billion. During the same period in the prior year, the business earned $1.26 EPS. The company’s revenue for the quarter was up 54.4% on a year-over-year basis. As a group, research analysts predict that Lam Research Corporation will post 9.59 EPS for the current year.
Lam Research Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 23rd were issued a dividend of $0.33 per share. The ex-dividend date was Wednesday, September 23rd. This is a positive change from Lam Research’s previous quarterly dividend of $0.26. This represents a $1.32 annualized dividend and a dividend yield of 0.6%. Lam Research’s dividend payout ratio (DPR) is 19.67%.
Insider Buying and Selling
In other news, insider Ava Harter sold 5,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider directly owned 42,462 shares of the company’s stock, valued at $12,843,056.52. The trade was a 10.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 9,557 shares of the company’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 sale, the director owned 20,995 shares in the company, valued at $6,607,966.30. The trade was a 31.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.31% of the company’s stock.
More Lam Research News
Here are the key news stories impacting Lam Research this week:
- Positive Sentiment: Reports pointed to strong AI-chip demand and December-quarter guidance that helped support a Tuesday rebound; Jim Cramer’s endorsement also added to the positive sentiment. What Is Going on With Lam Research Stock on Tuesday? The wider semiconductor sector’s recovery provided another tailwind. Lam Research Stock Rises Amid Semiconductor Sector Rebound
- Positive Sentiment: Bernstein reportedly sees 53% potential upside after LRCX fell 34% over the past month, suggesting some analysts view the selloff as an opportunity. Bernstein Sees Upside in Lam Research
- Neutral Sentiment: Lam reported a record September quarter, with revenue of $8.22 billion and net income of $2.75 billion. Its December-quarter revenue outlook of about $8.6 billion and EPS guidance near $2.33 were broadly in line with expectations, limiting the positive surprise. Should Cautious Guidance Require Action From Lam Research Investors?
- Negative Sentiment: Component shortages could constrain execution, while management expects China-related revenue to decline in the near term. These risks, alongside concerns about AI spending across chip-equipment makers, contributed to the post-earnings selloff and may keep volatility elevated. Is Lam Research Stock’s Fall a Bargain or a Warning?
Lam Research Company Profile
Lam Research Corporation (NASDAQ:LRCX) is a semiconductor equipment company that develops and manufactures systems used to fabricate integrated circuits. Its technologies support key stages of wafer processing, helping semiconductor manufacturers create the increasingly complex structures found in memory, logic and other types of chips.
The company’s product portfolio includes etch systems, which selectively remove materials from wafers; deposition systems, which apply thin films; and cleaning solutions used to remove contaminants and residue during manufacturing.
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