Evolve Private Wealth LLC purchased a new stake in shares of Lam Research Corporation (NASDAQ:LRCX – Free Report) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 41,550 shares of the semiconductor company’s stock, valued at approximately $7,123,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Lam Research by 0.4% during the third quarter. State Street Corp now owns 59,817,352 shares of the semiconductor company’s stock valued at $8,024,684,000 after acquiring an additional 265,805 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Lam Research by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 33,747,368 shares of the semiconductor company’s stock valued at $5,764,117,000 after acquiring an additional 126,613 shares during the period. Norges Bank acquired a new position in shares of Lam Research during the fourth quarter valued at $3,645,427,000. Invesco Ltd. boosted its holdings in shares of Lam Research by 18.2% during the third quarter. Invesco Ltd. now owns 21,182,948 shares of the semiconductor company’s stock valued at $2,836,397,000 after acquiring an additional 3,263,658 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Lam Research by 352.2% during the fourth 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 during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.
Lam Research Stock Performance
LRCX stock opened at $374.18 on Thursday. The company has a market capitalization of $467.94 billion, a P/E ratio of 70.60, a PEG ratio of 3.04 and a beta of 1.85. The company has a 50-day simple moving average of $295.60 and a 200 day simple moving average of $238.88. Lam Research Corporation has a fifty-two week low of $87.75 and a fifty-two week high of $397.63. The company has a quick ratio of 1.77, a current ratio of 2.54 and a debt-to-equity ratio of 0.35.
Lam Research Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 17th will be given a $0.26 dividend. The ex-dividend date is Wednesday, June 17th. This represents a $1.04 annualized dividend and a yield of 0.3%. Lam Research’s payout ratio is 19.62%.
Key Stories Impacting Lam Research
Here are the key news stories impacting Lam Research this week:
- Positive Sentiment: Rothschild & Co Redburn raised its price target on Lam Research to $420 from $305 and reiterated a buy rating, signaling confidence in further upside. MarketScreener article on Rothschild & Co Redburn target raise
- Positive Sentiment: Citi also boosted its Lam Research price target to $450 from $315, citing booming wafer fab equipment demand and stronger forecast assumptions for the semiconductor capital spending cycle. Yahoo/Investing.com article on Citi target hike
- Positive Sentiment: Analyst and market commentary continue to point to strong memory-equipment demand and AI-driven packaging growth as key growth catalysts for Lam Research. Motley Fool article on memory stock and Lam Research growth
- Positive Sentiment: Multiple articles describe Lam Research as a profitable, high-quality growth stock, which supports investor enthusiasm around its earnings power and premium valuation. Insider Monkey article on most profitable American stocks
- Neutral Sentiment: There was also insider selling by a director under a pre-arranged 10b5-1 plan, which is notable but not necessarily a negative signal. SEC filing for director share sale
- Neutral Sentiment: The broader chip-equipment group is rallying with Intel’s manufacturing update lifting sentiment across semiconductor stocks, adding sector tailwinds for LRCX. Yahoo/Investing.com article on chip stocks rebound
Insiders Place Their Bets
In other Lam Research news, insider Ava Harter sold 6,010 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $258.66, for a total value of $1,554,546.60. Following the sale, the insider directly owned 53,205 shares in the company, valued at approximately $13,762,005.30. The trade was a 10.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Neil J. Fernandes sold 7,659 shares of the business’s stock in a transaction dated 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 completion of the sale, the senior vice president owned 58,470 shares in the company, valued at approximately $18,102,312. This trade represents a 11.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 86,339 shares of company stock worth $27,680,267. 0.31% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several brokerages have recently issued reports on LRCX. Susquehanna boosted their price target on shares of Lam Research from $350.00 to $385.00 and gave the company a “positive” rating in a report on Thursday, April 23rd. Zacks Research downgraded shares of Lam Research from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Citigroup reaffirmed a “buy” rating and issued a $450.00 price objective (up from $315.00) on shares of Lam Research in a report on Wednesday. Cantor Fitzgerald set a $425.00 price objective on shares of Lam Research and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Finally, Weiss Ratings downgraded shares of Lam Research from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 14th. Twenty-eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $333.62.
View Our Latest Stock Report on Lam Research
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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