3,523 Lam Research Corporation $LRCX Shares Purchased by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management increased its Lam Research position by 5.4% in the third quarter, purchasing 3,523 shares and bringing its holdings to 68,976 shares valued at approximately $22.1 million. Institutional investors collectively own 84.61% of LRCX.
• Analysts maintain a broadly positive outlook, with Lam Research receiving a consensus rating of “Moderate Buy” and an average price target of $364.59. The company recently exceeded quarterly earnings and revenue expectations, reporting $1.82 in EPS and $6.72 billion in revenue.
• Lam Research raised its quarterly dividend from $0.26 to $0.33 per share, implying an annualized dividend of $1.32 and a 0.4% yield. However, company insiders recently sold shares, while insiders collectively own only 0.31% of the stock.

NorthCrest Asset Manangement LLC boosted its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 5.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 68,976 shares of the semiconductor company's stock after buying an additional 3,523 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Lam Research were worth $22,113,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Avior Wealth Management LLC boosted its stake in shares of Lam Research by 1.6% in the 3rd quarter. Avior Wealth Management LLC now owns 2,615 shares of the semiconductor company's stock valued at $859,000 after purchasing an additional 42 shares during the last quarter. Perpetual Ltd grew its position in shares of Lam Research by 0.4% during the 3rd quarter. Perpetual Ltd now owns 12,597 shares of the semiconductor company's stock worth $4,138,000 after buying an additional 52 shares during the period. Sacks & Associates LLC acquired a new stake in shares of Lam Research during the 3rd quarter worth approximately $205,000. Oak Grove Capital LLC raised its stake in shares of Lam Research by 3.1% during the third quarter. Oak Grove Capital LLC now owns 16,809 shares of the semiconductor company's stock worth $5,522,000 after buying an additional 500 shares during the last quarter. Finally, Stokes Capital Advisors LLC raised its stake in shares of Lam Research by 3.3% during the third quarter. Stokes Capital Advisors LLC now owns 2,083 shares of the semiconductor company's stock worth $684,000 after buying an additional 67 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LRCX has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $320.00 price objective on shares of Lam Research in a report on Thursday, July 30th. Jefferies Financial Group set a $335.00 target price on shares of Lam Research and gave the stock a "buy" rating in a report on Thursday, July 30th. HSBC reaffirmed a "hold" rating and set a $333.00 target price on shares of Lam Research in a report on Monday, July 27th. Citigroup reiterated a "buy" rating and set a $450.00 target price (up from $315.00) on shares of Lam Research in a research report on Wednesday, June 17th. 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 research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, Lam Research currently has a consensus rating of "Moderate Buy" and a consensus price target of $364.59.

Lam Research Stock Performance

Shares of NASDAQ:LRCX opened at $309.56 on Tuesday. The company has a market capitalization of $387.39 billion, a price-to-earnings ratio of 53.74, a P/E/G ratio of 1.26 and a beta of 1.85. The firm's 50 day simple moving average is $311.28 and its 200 day simple moving average is $306.87. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.63 and a quick ratio of 1.91. Lam Research Corporation has a fifty-two week low of $134.04 and a fifty-two week high of $438.50.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.13. The business had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.66 billion. Lam Research had a net margin of 31.27% and a return on equity of 67.60%. Lam Research's quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.33 EPS. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. As a group, sell-side analysts forecast that Lam Research Corporation will post 9.34 earnings per share for the current year.

Lam Research Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 23rd will be given a dividend of $0.33 per share. This is a positive change from Lam Research's previous quarterly dividend of $0.26. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, September 23rd. Lam Research's payout ratio is 22.92%.

Insiders Place Their Bets

In related news, insider Ava Harter sold 5,000 shares of the firm's stock in a transaction on Monday, August 31st. The stock was sold at an average price of $302.46, for a total transaction of $1,512,300.00. Following the sale, the insider owned 42,462 shares of the company's stock, valued at approximately $12,843,056.52. This trade represents a 10.53% decrease in their position. The sale was disclosed in a filing with the SEC, 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 dated 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 transaction, the director owned 20,995 shares in the company, valued at approximately $6,607,966.30. This represents a 31.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.31% of the company's stock.

Lam Research Company 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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