ABC Arbitrage SA Takes Position in Lam Research Corporation $LRCX

Key Points

• ABC Arbitrage SA opened a new position in Lam Research during the first quarter, buying 14,469 shares valued at about $3.09 million.
• Lam Research reported strong quarterly results, with EPS of $1.47 beating estimates and revenue of $5.84 billion topping expectations; revenue rose 23.8% year over year.
• Analyst sentiment remains positive, with several firms raising price targets and the stock holding a consensus rating of Moderate Buy and an average target price of $350.81.

ABC Arbitrage SA purchased a new position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 14,469 shares of the semiconductor company's stock, valued at approximately $3,091,000.

Several other institutional investors and hedge funds have also modified their holdings of LRCX. PMV Capital Advisers LLC bought a new position in Lam Research in the fourth quarter valued at about $25,000. Stance Capital LLC bought a new position in shares of Lam Research in the third quarter worth about $26,000. Bayban bought a new position in shares of Lam Research in the fourth quarter worth about $26,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Lam Research in the 1st quarter valued at approximately $26,000. Finally, Cedar Mountain Advisors LLC boosted its stake in shares of Lam Research by 242.9% in the 1st quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 85 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Down 5.8%

Shares of NASDAQ LRCX opened at $329.92 on Tuesday. The company has a 50 day simple moving average of $336.33 and a 200 day simple moving average of $265.32. The firm has a market cap of $412.59 billion, a PE ratio of 62.25, a price-to-earnings-growth ratio of 2.07 and a beta of 1.80. Lam Research Corporation has a 1 year low of $90.93 and a 1 year high of $438.50. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.54 and a quick ratio of 1.77.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share for the quarter, topping analysts' consensus estimates of $1.36 by $0.11. Lam Research had a net margin of 30.94% and a return on equity of 66.21%. The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period in the previous year, the firm posted $1.04 EPS. The company's revenue for the quarter was up 23.8% compared to the same quarter last year. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. On average, research analysts forecast that Lam Research Corporation will post 5.68 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th were paid a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.3%. Lam Research's payout ratio is currently 19.62%.

Analyst Ratings Changes

LRCX has been the subject of a number of research analyst reports. Needham & Company LLC upped their price objective on shares of Lam Research from $300.00 to $390.00 and gave the stock a "buy" rating in a research report on Friday. TD Cowen reissued a "buy" rating and issued a $400.00 price objective (up from $340.00) on shares of Lam Research in a research note on Thursday. Raymond James Financial set a $425.00 target price on shares of Lam Research in a research report on Wednesday, June 10th. Barclays reaffirmed an "overweight" rating and set a $335.00 target price (up from $275.00) on shares of Lam Research in a research note on Thursday, June 11th. Finally, B. Riley Financial upped their price target on shares of Lam Research from $350.00 to $375.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. Twenty-eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Lam Research currently has an average rating of "Moderate Buy" and a consensus target price of $350.81.

Insider Buying and Selling

In other Lam Research news, Director Eric Brandt sold 54,500 shares of Lam Research stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $350.80, for a total transaction of $19,118,600.00. Following the transaction, the director directly owned 199,205 shares of the company's stock, valued at approximately $69,881,114. The trade was a 21.48% decrease in their position. The sale was disclosed in a filing 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, SVP Neil J. Fernandes sold 7,659 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $309.60, for a total value of $2,371,226.40. Following the completion of the sale, the senior vice president owned 58,470 shares in the company, valued at $18,102,312. This trade represents a 11.58% 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. Insiders have sold a total of 86,339 shares of company stock valued at $27,680,267 over the last 90 days. 0.31% of the stock is owned by insiders.

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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