Allstate Corp Invests $3.51 Million in Lam Research Corporation $LRCX

Key Points

• Allstate Corp purchased 48,308 shares of Lam Research Corporation for approximately $3.5 million in the first quarter, indicating a strong interest in semiconductor stocks.
• Major institutional investors, including Vanguard Group and Ameriprise Financial, have significantly increased their stakes in Lam Research, indicating growing confidence in the company's performance.
• Lam Research reported impressive earnings, with a 33.6% year-over-year increase in revenue and an EPS of $1.33, surpassing analyst expectations.

Allstate Corp bought a new position in Lam Research Corporation (NASDAQ:LRCX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 48,308 shares of the semiconductor company's stock, valued at approximately $3,512,000.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Lam Research by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 129,152,102 shares of the semiconductor company's stock worth $9,389,358,000 after buying an additional 8,364,375 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Lam Research by 950.5% in the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock worth $2,495,128,000 after buying an additional 31,255,726 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Lam Research by 2.8% in the 1st quarter. Invesco Ltd. now owns 17,330,771 shares of the semiconductor company's stock worth $1,259,947,000 after buying an additional 472,636 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Lam Research by 1,067.0% in the 4th quarter. Northern Trust Corp now owns 15,869,244 shares of the semiconductor company's stock worth $1,146,235,000 after buying an additional 14,509,407 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Lam Research by 6,383.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,574,691 shares of the semiconductor company's stock worth $980,500,000 after buying an additional 13,365,317 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Trading Up 1.2%

Shares of NASDAQ LRCX traded up $1.20 during midday trading on Monday, hitting $101.28. The stock had a trading volume of 5,435,192 shares, compared to its average volume of 12,678,572. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $108.02. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 1.55. The firm has a market cap of $128.18 billion, a P/E ratio of 24.35, a price-to-earnings-growth ratio of 1.29 and a beta of 1.65. The company's 50-day simple moving average is $98.57 and its 200 day simple moving average is $84.75.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. Lam Research had a return on equity of 58.17% and a net margin of 29.07%.The business had revenue of $5.17 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period last year, the company earned $1.03 EPS. The firm's revenue was up 33.6% on a year-over-year basis. Lam Research has set its Q1 2026 guidance at 1.100-1.300 EPS. Research analysts anticipate that Lam Research Corporation will post 3.71 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LRCX. Citigroup raised their price target on Lam Research from $108.00 to $113.00 and gave the company a "buy" rating in a report on Friday, August 1st. The Goldman Sachs Group began coverage on Lam Research in a report on Thursday, July 10th. They set a "buy" rating and a $115.00 price target for the company. Wells Fargo & Company set a $98.00 price target on Lam Research and gave the company an "equal weight" rating in a report on Thursday, July 31st. B. Riley reaffirmed a "buy" rating and set a $115.00 price target (up from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. Finally, Barclays set a $83.00 price target on Lam Research and gave the company an "equal weight" rating in a report on Monday, July 28th. Twenty investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Lam Research presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.30.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.