Retirement Systems of Alabama increased its stake in Lam Research Corporation (NASDAQ:LRCX – Free Report) by 18.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 311,528 shares of the semiconductor company’s stock after purchasing an additional 48,811 shares during the quarter. Retirement Systems of Alabama’s holdings in Lam Research were worth $102,340,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of LRCX. Fulcrum Asset Management LLP boosted its stake in Lam Research by 148.5% during the 3rd quarter. Fulcrum Asset Management LLP now owns 21,206 shares of the semiconductor company’s stock valued at $6,868,000 after purchasing an additional 12,672 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Lam Research by 17.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 700,385 shares of the semiconductor company’s stock valued at $238,201,000 after purchasing an additional 102,283 shares during the period. StoneRidge PMG Advisors LLC acquired a new position in shares of Lam Research during the 3rd quarter valued at $2,426,000. Burton Enright Welch bought a new stake in shares of Lam Research in the 3rd quarter worth $405,000. Finally, Beverly Hills Private Wealth LLC raised its stake in shares of Lam Research by 31.1% in the 3rd quarter. Beverly Hills Private Wealth LLC now owns 935 shares of the semiconductor company’s stock worth $307,000 after buying an additional 222 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently weighed in on LRCX shares. UBS Group restated a “buy” rating and issued a $400.00 price objective (down from $425.00) on shares of Lam Research in a report on Thursday, October 22nd. Citigroup reaffirmed a “buy” rating and set a $435.00 target price (down from $450.00) on shares of Lam Research in a report on Thursday, October 22nd. HSBC reiterated a “hold” rating and issued a $333.00 price target on shares of Lam Research in a research report on Monday, July 27th. Mizuho dropped their price target on shares of Lam Research from $365.00 to $360.00 and set an “outperform” rating on the stock in a research report on Thursday, October 22nd. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $350.00 price target (down from $450.00) on shares of Lam Research in a report on Thursday, July 30th. Twenty-six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $357.57.
Check Out Our Latest Stock Report on Lam Research
Lam Research Trading Up 10.4%
Shares of LRCX opened at $221.31 on Tuesday. Lam Research Corporation has a 1-year low of $135.50 and a 1-year high of $438.50. The business’s 50-day moving average price is $282.76 and its 200 day moving average price is $283.64. The stock has a market capitalization of $276.45 billion, a P/E ratio of 32.98, a P/E/G ratio of 0.82 and a beta of 1.97. The company has a current ratio of 2.48, a quick ratio of 1.86 and a debt-to-equity ratio of 0.27.
Lam Research (NASDAQ:LRCX – Get Free Report) last posted its quarterly earnings results on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.02. The firm had revenue of $8.22 billion for the quarter, compared to analyst estimates of $8.14 billion. Lam Research had a return on equity of 72.15% and a net margin of 32.34%. Lam Research’s quarterly revenue was up 54.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.26 earnings per share. Analysts expect that Lam Research Corporation will post 9.59 earnings per share for the current year.
Lam Research Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 6th. Stockholders of record on Wednesday, December 2nd will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, December 2nd. This represents a $1.32 annualized dividend and a dividend yield of 0.6%. Lam Research’s dividend payout ratio is 19.67%.
Lam Research announced that its board has authorized a stock buyback program on Thursday, November 5th that authorizes the company to repurchase $25 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
More Lam Research News
Here are the key news stories impacting Lam Research this week:
- Positive Sentiment: Coverage said Lam shares gained after a reported $25 billion buyback plan, citing strong AI demand, record earnings and a lower valuation as supporting factors. Yahoo Finance article Zacks article
- Positive Sentiment: Chip-equipment shares rallied broadly, with Lam reported up alongside Applied Materials and ASML. The sector move may have lifted LRCX amid optimism ahead of Applied Materials’ earnings. 247WallSt article
- Positive Sentiment: A dividend announcement was also cited in coverage of Lam’s share advance, adding to the capital-return news. American Banking News article
- Neutral Sentiment: B. Riley cut its price target to $310 from $338 but maintained a Buy rating, leaving its target well above the price cited in the report. The reduction is a cautionary signal, while the rating remains supportive. Tickerreport article
- Neutral Sentiment: Director Bethany Mayer sold 16 shares under a pre-arranged Rule 10b5-1 plan, a small transaction that reduced her holdings by 0.9%. SEC filing
- Negative Sentiment: Technical commentary described the rebound as occurring within a still-dominant downtrend, suggesting the recent strength may not yet signal a trend reversal. Technical analysis
Insiders Place Their Bets
In other Lam Research news, insider Ava Harter sold 5,000 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $302.46, for a total transaction of $1,512,300.00. Following the transaction, the insider directly owned 42,462 shares of the company’s stock, valued at $12,843,056.52. This represents a 10.53% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the transaction, the director directly owned 20,995 shares in the company, valued at $6,607,966.30. The trade was a 31.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 14,573 shares of company stock worth $4,523,606 in the last 90 days. 0.31% of the stock is owned by insiders.
Lam Research Company Profile
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.
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