5,184 Lam Research Corporation $LRCX Shares Sold by GRIMES & Co WEALTH MANAGEMENT LLC

Key Points

• GRIMES & Co. cut its Lam Research stake by 32.7% in the third quarter, selling 5,184 shares and retaining 10,690 shares valued at about $3.51 million.
• Institutional ownership remains high at 84.61%, with several major investors—including State Street and Bank of America—reporting increased positions.
• Lam Research slightly beat quarterly earnings and revenue estimates, with revenue up 54.4% year over year; it also raised its quarterly dividend to $0.33 per share.

GRIMES & Co WEALTH MANAGEMENT LLC trimmed its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 32.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,690 shares of the semiconductor company's stock after selling 5,184 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC's holdings in Lam Research were worth $3,512,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Lam Research by 2.6% during the second quarter. State Street Corp now owns 60,704,130 shares of the semiconductor company's stock valued at $26,320,468,000 after acquiring an additional 1,545,830 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Lam Research by 5.5% in the second quarter. Bank of America Corp DE now owns 11,244,147 shares of the semiconductor company's stock worth $4,872,426,000 after purchasing an additional 584,489 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Lam Research by 411.8% in the second quarter. Van ECK Associates Corp now owns 11,089,395 shares of the semiconductor company's stock worth $4,805,368,000 after purchasing an additional 8,922,854 shares during the last quarter. Amundi grew its stake in shares of Lam Research by 23.7% in the first quarter. Amundi now owns 10,147,479 shares of the semiconductor company's stock worth $2,168,107,000 after purchasing an additional 1,942,862 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Lam Research by 2.0% during the 1st quarter. Janus Henderson Group PLC now owns 9,265,026 shares of the semiconductor company's stock valued at $1,975,244,000 after purchasing an additional 181,087 shares during the period. 84.61% of the stock is currently owned by institutional investors.

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 stock was sold at an average price of $302.46, for a total value of $1,512,300.00. Following the completion of the transaction, the insider owned 42,462 shares in the company, valued at approximately $12,843,056.52. This represents a 10.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 the firm's stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $314.74, for a total value of $3,007,970.18. Following the transaction, the director directly owned 20,995 shares of the company's stock, valued at $6,607,966.30. This represents a 31.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.31% of the stock is currently owned by corporate insiders.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $230.72 on Wednesday. Lam Research Corporation has a 1 year low of $135.50 and a 1 year high of $438.50. The stock has a market capitalization of $288.21 billion, a P/E ratio of 34.38, a P/E/G ratio of 0.84 and a beta of 1.97. The company's 50-day moving average is $291.15 and its 200 day moving average is $283.95. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.48 and a quick ratio of 1.86.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, October 21st. The semiconductor company reported $2.20 EPS for the quarter, topping the consensus estimate of $2.18 by $0.02. Lam Research had a net margin of 32.34% and a return on equity of 72.15%. The business had revenue of $8.22 billion during the quarter, compared to analyst estimates of $8.14 billion. During the same period last year, the business posted $1.26 earnings per share. Lam Research's quarterly revenue was up 54.4% compared to the same quarter last year. On average, sell-side analysts expect that Lam Research Corporation will post 9.59 earnings per share for the current year.

Lam Research Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 23rd were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.6%. This is a positive change from Lam Research's previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, September 23rd. Lam Research's dividend payout ratio is currently 19.67%.

More Lam Research News

Here are the key news stories impacting Lam Research this week:

• Positive Sentiment: Reports pointed to strong AI-chip demand and December-quarter guidance that helped support a Tuesday rebound; Jim Cramer’s endorsement also added to the positive sentiment. What Is Going on With Lam Research Stock on Tuesday? The wider semiconductor sector’s recovery provided another tailwind. Lam Research Stock Rises Amid Semiconductor Sector Rebound
• Positive Sentiment: Bernstein reportedly sees 53% potential upside after LRCX fell 34% over the past month, suggesting some analysts view the selloff as an opportunity. Bernstein Sees Upside in Lam Research
• Neutral Sentiment: Lam reported a record September quarter, with revenue of $8.22 billion and net income of $2.75 billion. Its December-quarter revenue outlook of about $8.6 billion and EPS guidance near $2.33 were broadly in line with expectations, limiting the positive surprise. Should Cautious Guidance Require Action From Lam Research Investors?
• Negative Sentiment: Component shortages could constrain execution, while management expects China-related revenue to decline in the near term. These risks, alongside concerns about AI spending across chip-equipment makers, contributed to the post-earnings selloff and may keep volatility elevated. Is Lam Research Stock's Fall a Bargain or a Warning?

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LRCX shares. Wall Street Zen raised Lam Research from a "hold" rating to a "buy" rating in a research report on Saturday, October 24th. Evercore set a $315.00 price objective on Lam Research in a report on Tuesday, October 20th. Morgan Stanley set a $339.00 price objective on Lam Research and gave the stock an "overweight" rating in a research report on Thursday, October 22nd. UBS Group reissued a "buy" rating and set a $400.00 target price (down from $425.00) on shares of Lam Research in a research note on Thursday, October 22nd. Finally, Berenberg Bank set a $420.00 target price on Lam Research in a report on Wednesday, September 9th. Twenty-six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $360.23.

Lam Research Company Profile

Lam Research Corporation NASDAQ: LRCX is a semiconductor equipment company that develops and manufactures systems used to fabricate integrated circuits. Its technologies support key stages of wafer processing, helping semiconductor manufacturers create the increasingly complex structures found in memory, logic and other types of chips.

The company's product portfolio includes etch systems, which selectively remove materials from wafers; deposition systems, which apply thin films; and cleaning solutions used to remove contaminants and residue during manufacturing.

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