65,806 Lam Research Corporation $LRCX Shares Sold by Smith Group Asset Management LLC

Key Points

• Smith Group Asset Management cut its Lam Research stake by 37.4%, selling 65,806 shares and retaining 109,941 shares valued at approximately $36.1 million. Institutional investors still own 84.61% of LRCX.
• Lam Research exceeded quarterly expectations with $8.22 billion in revenue and $2.20 EPS, while revenue rose 54.4% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $360.23.
• The company increased its quarterly dividend to $0.33 per share, equivalent to a $1.32 annualized payout and a 0.5% yield; insider transactions reported in the article were sales.

Smith Group Asset Management LLC lessened its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 37.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,941 shares of the semiconductor company's stock after selling 65,806 shares during the quarter. Lam Research makes up about 2.4% of Smith Group Asset Management LLC's holdings, making the stock its 17th largest position. Smith Group Asset Management LLC's holdings in Lam Research were worth $36,117,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of LRCX. State Street Corp grew its holdings in Lam Research by 2.6% during the second quarter. State Street Corp now owns 60,704,130 shares of the semiconductor company's stock worth $26,320,468,000 after buying an additional 1,545,830 shares in the last quarter. Bank of America Corp DE lifted its stake in Lam Research by 5.5% during the 2nd quarter. Bank of America Corp DE now owns 11,244,147 shares of the semiconductor company's stock valued at $4,872,426,000 after acquiring an additional 584,489 shares in the last quarter. Van ECK Associates Corp lifted its stake in Lam Research by 411.8% during the 2nd quarter. Van ECK Associates Corp now owns 11,089,395 shares of the semiconductor company's stock valued at $4,805,368,000 after acquiring an additional 8,922,854 shares in the last quarter. Amundi lifted its stake in Lam Research by 23.7% during the 1st quarter. Amundi now owns 10,147,479 shares of the semiconductor company's stock valued at $2,168,107,000 after acquiring an additional 1,942,862 shares in the last quarter. Finally, Janus Henderson Group PLC boosted 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 worth $1,975,244,000 after acquiring an additional 181,087 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on LRCX shares. Citigroup reiterated a "buy" rating and issued a $435.00 target price (down from $450.00) on shares of Lam Research in a research note on Thursday, October 22nd. Fundamental Research set a $390.00 target price on shares of Lam Research in a report on Thursday, October 1st. Wall Street Zen raised shares of Lam Research from a "hold" rating to a "buy" rating in a research report on Saturday, October 24th. UBS Group restated a "buy" rating and set a $400.00 price target (down from $425.00) on shares of Lam Research in a report on Thursday, October 22nd. Finally, B. Riley Financial upped their price objective on shares of Lam Research from $350.00 to $390.00 and gave the stock a "buy" rating in a research report on Thursday, October 1st. Twenty-six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Lam Research presently has a consensus rating of "Moderate Buy" and a consensus price target of $360.23.

Lam Research Stock Performance

Shares of LRCX opened at $253.82 on Thursday. The stock has a 50 day moving average of $296.95 and a 200 day moving average of $283.50. The company has a market capitalization of $317.06 billion, a price-to-earnings ratio of 37.83, a PEG ratio of 0.86 and a beta of 1.85. Lam Research Corporation has a 12 month low of $135.50 and a 12 month high of $438.50. The company has a current ratio of 2.48, a quick ratio of 1.86 and a debt-to-equity ratio of 0.27.

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

Lam Research Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 23rd were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, September 23rd. This represents a $1.32 annualized dividend and a dividend yield of 0.5%. This is a boost from Lam Research's previous quarterly dividend of $0.26. Lam Research's payout ratio is 19.67%.

Insiders Place Their Bets

In related news, insider Ava Harter sold 5,000 shares of the business's stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $302.46, for a total value of $1,512,300.00. Following the transaction, the insider directly owned 42,462 shares of the company's stock, valued at approximately $12,843,056.52. The trade was a 10.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 9,557 shares of the stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the transaction, the director owned 20,995 shares of the company's stock, valued at approximately $6,607,966.30. The trade was a 31.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.31% of the company's stock.

Lam Research News Roundup

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

• Positive Sentiment: Strong earnings and outlook: Lam Research reported quarterly revenue of $8.22 billion, up sharply from the prior year and ahead of analyst expectations. Earnings per share also exceeded consensus, while management projected approximately $8.60 billion in revenue and about $2.33 in EPS for the December quarter, signaling continued demand. Lam Research Gains as Strong Earnings and a Chip-Sector Rebound Support Shares
• Positive Sentiment: Foundry momentum: Foundry revenue reached a record in fiscal first-quarter 2027, with foundry accounting for 46% of Systems revenue, up from 44% in the previous quarter. This supports the view that advanced-node manufacturing and rising chip complexity are driving equipment purchases. Lam Research Sees Record Foundry Sales
• Positive Sentiment: Industry tailwinds and valuation appeal: SK Hynix’s long-term memory shortage outlook suggests years of potential fab construction, while analysts and research services view LRCX as more attractive after its recent selloff. Several published price targets remain well above the current trading level.
• Neutral Sentiment: Institutional positioning was mixed: many funds added shares, but others reduced holdings. This indicates continued investor interest alongside ongoing uncertainty about semiconductor-cycle durability.
• Negative Sentiment: Recent volatility and insider selling: LRCX remains well below its recent high after concerns about AI spending and valuation triggered a sharp pullback. Reported insider activity over the past six months consisted entirely of sales, which may reinforce near-term caution.

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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