AIA Group Ltd Reduces Stock Position in Lam Research Corporation $LRCX

Key Points

• AIA Group Ltd cut its Lam Research stake by 30.5% in the first quarter, selling 79,982 shares and leaving it with 181,890 shares valued at about $38.9 million.
• Lam Research beat quarterly expectations, reporting EPS of $1.47 versus $1.36 expected and revenue of $5.84 billion versus $5.70 billion expected, with revenue up 23.8% year over year.
• Analysts remain bullish on LRCX, with several firms raising price targets and the consensus rating staying at “Moderate Buy” with an average target price of $358.67.

AIA Group Ltd trimmed its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 30.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 181,890 shares of the semiconductor company's stock after selling 79,982 shares during the period. Lam Research comprises approximately 0.6% of AIA Group Ltd's holdings, making the stock its 28th largest holding. AIA Group Ltd's holdings in Lam Research were worth $38,863,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in LRCX. Cedar Mountain Advisors LLC increased its stake in shares of Lam Research by 242.9% in the first quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company's stock worth $26,000 after buying an additional 85 shares during the last quarter. Vermillion Wealth Management Inc. bought a new position in Lam Research during the 1st quarter valued at $26,000. PMV Capital Advisers LLC acquired a new position in Lam Research during the 4th quarter worth $25,000. Bayban acquired a new position in Lam Research during the 4th quarter worth $26,000. Finally, Mcguire Capital Advisors Inc. bought a new stake in shares of Lam Research in the 4th quarter worth about $27,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $313.30 on Friday. The company has a market cap of $391.80 billion, a PE ratio of 59.11, a P/E/G ratio of 1.85 and a beta of 1.80. Lam Research Corporation has a fifty-two week low of $90.93 and a fifty-two week high of $438.50. The firm has a 50-day simple moving average of $339.57 and a 200 day simple moving average of $268.94. The company has a quick ratio of 1.77, a current ratio of 2.54 and a debt-to-equity ratio of 0.35.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share (EPS) 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 analysts' expectations of $5.70 billion. During the same quarter last year, the company posted $1.04 earnings per share. Lam Research's revenue was up 23.8% on a year-over-year basis. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. On average, sell-side analysts anticipate that Lam Research Corporation will post 5.68 EPS for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th were issued 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 dividend payout ratio (DPR) is 19.62%.

Insider Buying and Selling

In related news, insider Ava Harter sold 6,010 shares of the business's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $258.66, for a total transaction of $1,554,546.60. Following the completion of the transaction, the insider owned 53,205 shares in the company, valued at $13,762,005.30. The trade was a 10.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Abhijit Y. Talwalkar sold 18,282 shares of the company's stock in a transaction on Monday, July 13th. The stock was sold at an average price of $335.00, for a total value of $6,124,470.00. Following the transaction, the director owned 87,142 shares of the company's stock, valued at approximately $29,192,570. The trade was a 17.34% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 104,621 shares of company stock worth $33,804,737. Company insiders own 0.31% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on LRCX shares. Susquehanna restated a "positive" rating and issued a $475.00 target price (up from $385.00) on shares of Lam Research in a research note on Tuesday, June 30th. Stifel Nicolaus lifted their price target on Lam Research from $325.00 to $425.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Wells Fargo & Company reissued an "overweight" rating and issued a $450.00 price objective (up from $365.00) on shares of Lam Research in a report on Monday, June 22nd. Rothschild & Co Redburn upped their price objective on Lam Research from $305.00 to $420.00 and gave the company a "buy" rating in a research note on Wednesday, June 17th. Finally, B. Riley Financial increased their target price on 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 given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $358.67.

Lam Research Company 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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