Eric Brandt Sells 54,500 Shares of Lam Research (NASDAQ:LRCX) Stock

Key Points

• Lam Research director Eric Brandt sold 54,500 shares on June 11 at an average price of $350.80, totaling about $19.1 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and Brandt’s ownership fell by 21.48%.
• The stock has been rallying sharply, recently trading at $389.39 and near its 52-week high of $393.07. Lam Research now carries a market value of about $486.96 billion and has significantly outpaced its 50-day and 200-day moving averages.
• Fundamentals and analyst sentiment remain strong: the company beat earnings and revenue estimates in its latest quarter and raised guidance, while analysts still mostly rate the stock a Buy with a consensus price target of $324.26. Lam Research also announced a quarterly dividend of $0.26 per share.

Lam Research Corporation (NASDAQ:LRCX - Get Free Report) Director Eric Brandt sold 54,500 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $350.80, for a total transaction of $19,118,600.00. Following the transaction, the director owned 199,205 shares in the company, valued at $69,881,114. This represents a 21.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lam Research Stock Performance

Shares of Lam Research stock traded up $22.58 during trading on Monday, hitting $389.39. 5,993,984 shares of the stock were exchanged, compared to its average volume of 10,824,539. The stock has a market capitalization of $486.96 billion, a price-to-earnings ratio of 73.39, a price-to-earnings-growth ratio of 3.02 and a beta of 1.85. The company has a fifty day moving average price of $286.10 and a 200-day moving average price of $234.16. Lam Research Corporation has a 1-year low of $87.75 and a 1-year high of $393.07. The company has a current ratio of 2.54, a quick ratio of 1.77 and a debt-to-equity ratio of 0.35.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.36 by $0.11. Lam Research had a net margin of 30.94% and a return on equity of 66.21%. The business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the prior year, the business earned $1.04 EPS. Lam Research's quarterly revenue was up 23.8% on a year-over-year basis. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. As a group, equities analysts predict that Lam Research Corporation will post 5.7 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, June 17th. This represents a $1.04 dividend on an annualized basis and a yield of 0.3%. Lam Research's dividend payout ratio is 19.62%.

Hedge Funds Weigh In On Lam Research

Several large investors have recently modified their holdings of the business. GSG Advisors LLC increased its position in shares of Lam Research by 3.1% during the first quarter. GSG Advisors LLC now owns 1,387 shares of the semiconductor company's stock worth $296,000 after buying an additional 42 shares during the period. Valued Wealth Advisors LLC increased its position in shares of Lam Research by 7.9% during the first quarter. Valued Wealth Advisors LLC now owns 589 shares of the semiconductor company's stock worth $126,000 after buying an additional 43 shares during the period. Greenup Street Wealth Management LLC increased its position in shares of Lam Research by 1.8% during the first quarter. Greenup Street Wealth Management LLC now owns 2,433 shares of the semiconductor company's stock worth $520,000 after buying an additional 44 shares during the period. Triumph Capital Management increased its position in shares of Lam Research by 22.5% during the fourth quarter. Triumph Capital Management now owns 245 shares of the semiconductor company's stock worth $42,000 after buying an additional 45 shares during the period. Finally, Traphagen Investment Advisors LLC increased its position in shares of Lam Research by 2.4% during the fourth quarter. Traphagen Investment Advisors LLC now owns 1,963 shares of the semiconductor company's stock worth $336,000 after buying an additional 46 shares during the period. Institutional investors own 84.61% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LRCX shares. Citigroup restated a "buy" rating and set a $315.00 target price (up from $300.00) on shares of Lam Research in a research report on Thursday, April 23rd. Oppenheimer reaffirmed an "outperform" rating and set a $400.00 price target on shares of Lam Research in a report on Monday. Weiss Ratings downgraded shares of Lam Research from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, May 14th. Raymond James Financial set a $425.00 price target on shares of Lam Research in a report on Wednesday, June 10th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $575.00 price target (up from $320.00) on shares of Lam Research in a report on Monday, June 1st. Twenty-eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $324.26.

Lam Research Company Profile

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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