8,717,571 Shares in Lam Research Corporation $LRCX Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp acquired a new position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,717,571 shares of the semiconductor company's stock, valued at approximately $3,777,585,000. Lam Research accounts for 0.6% of Bank of New York Mellon Corp's investment portfolio, making the stock its 25th biggest holding. Bank of New York Mellon Corp owned 0.70% of Lam Research at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Stoneridge Investment Partners LLC acquired a new position in Lam Research during the second quarter worth about $2,277,000. Laraway Financial Advisors Inc acquired a new stake in shares of Lam Research during the 2nd quarter valued at $3,423,000. Clarus Group Inc. acquired a new stake in shares of Lam Research during the 2nd quarter valued at $243,000. Wealth Advisory Solutions LLC bought a new stake in Lam Research during the 2nd quarter worth $266,000. Finally, Petra Financial Advisors Inc. bought a new stake in Lam Research during the 2nd quarter worth $463,000. 84.61% of the stock is owned by institutional investors.

Insider Buying and Selling at Lam Research

In other news, SVP Neil J. Fernandes sold 7,659 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $309.60, for a total value of $2,371,226.40. Following the transaction, the senior vice president directly owned 58,470 shares of the company's stock, valued at $18,102,312. The trade was a 11.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Brandt sold 54,500 shares of the company's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $350.80, for a total value of $19,118,600.00. Following the sale, the director owned 199,205 shares in the company, valued at approximately $69,881,114. The trade was a 21.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 80,441 shares of company stock valued at $27,614,296. 0.31% of the stock is currently owned by insiders.

Lam Research Price Performance

Shares of LRCX opened at $310.17 on Tuesday. The business has a 50-day moving average of $335.90 and a 200-day moving average of $286.99. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.63 and a quick ratio of 1.91. The company has a market capitalization of $388.12 billion, a price-to-earnings ratio of 53.85, a price-to-earnings-growth ratio of 1.25 and a beta of 1.84. Lam Research Corporation has a 1 year low of $94.11 and a 1 year high of $438.50.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, July 29th. The semiconductor company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.69 by $0.13. Lam Research had a return on equity of 67.60% and a net margin of 31.27%.The business had revenue of $6.72 billion for the quarter, compared to analysts' expectations of $6.66 billion. During the same period in the prior year, the business posted $1.33 earnings per share. The firm's revenue was up 30.0% on a year-over-year basis. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. As a group, equities research analysts anticipate that Lam Research Corporation will post 9.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Mizuho increased their target price on Lam Research from $380.00 to $400.00 and gave the company an "outperform" rating in a research report on Thursday, July 9th. Barclays reaffirmed an "overweight" rating and issued a $335.00 price objective (up from $275.00) on shares of Lam Research in a research note on Thursday, June 11th. Cantor Fitzgerald set a $500.00 price objective on shares of Lam Research and gave the company an "overweight" rating in a report on Monday, June 29th. Jefferies Financial Group set a $335.00 target price on shares of Lam Research and gave the stock a "buy" rating in a research report on Thursday, July 30th. Finally, Needham & Company LLC reissued a "buy" rating and set a $390.00 target price on shares of Lam Research in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $358.47.

Lam Research 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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