Allstate Corp Buys 49,743 Shares of Lam Research Corporation $LRCX

Key Points

• Allstate Corp more than doubled its stake in Lam Research in the fourth quarter, buying 49,743 additional shares and bringing its total holdings to 96,095 shares worth about $16.45 million.
• Lam Research posted a strong quarter, with EPS of $1.47 beating expectations and revenue of $5.84 billion topping estimates; revenue also rose 23.8% year over year.
• Analyst sentiment remains positive, with several firms raising price targets and the stock carrying a Moderate Buy consensus rating and average target of $293.46.

Allstate Corp increased its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 107.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,095 shares of the semiconductor company's stock after buying an additional 49,743 shares during the quarter. Allstate Corp's holdings in Lam Research were worth $16,450,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Generali Investments Management Co LLC raised its holdings in shares of Lam Research by 62.0% during the 4th quarter. Generali Investments Management Co LLC now owns 36,274 shares of the semiconductor company's stock valued at $6,209,000 after buying an additional 13,878 shares in the last quarter. Lingohr Asset Management GmbH grew its position in shares of Lam Research by 590.7% in the 3rd quarter. Lingohr Asset Management GmbH now owns 59,555 shares of the semiconductor company's stock worth $7,974,000 after buying an additional 50,933 shares during the last quarter. Mediolanum International Funds Ltd grew its position in shares of Lam Research by 52.0% in the 3rd quarter. Mediolanum International Funds Ltd now owns 262,544 shares of the semiconductor company's stock worth $34,417,000 after buying an additional 89,856 shares during the last quarter. Thoroughbred Financial Services LLC grew its position in shares of Lam Research by 115.2% in the 3rd quarter. Thoroughbred Financial Services LLC now owns 22,198 shares of the semiconductor company's stock worth $2,972,000 after buying an additional 11,883 shares during the last quarter. Finally, Truist Financial Corp lifted its stake in shares of Lam Research by 119.6% in the 3rd quarter. Truist Financial Corp now owns 1,676,637 shares of the semiconductor company's stock valued at $224,502,000 after purchasing an additional 913,009 shares during the period. Institutional investors own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. TD Cowen boosted their price target on Lam Research from $290.00 to $340.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. Susquehanna increased their price target on Lam Research from $350.00 to $385.00 and gave the company a "positive" rating in a research note on Thursday, April 23rd. BNP Paribas Exane increased their price target on Lam Research from $250.00 to $260.00 and gave the stock a "neutral" rating in a report on Thursday, April 23rd. Cantor Fitzgerald reissued an "overweight" rating and set a $320.00 target price on shares of Lam Research in a research report on Thursday, April 23rd. Finally, UBS Group set a $300.00 price target on Lam Research in a report on Thursday, January 29th. Twenty-seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $293.46.

Lam Research Price Performance

Shares of Lam Research stock opened at $305.35 on Tuesday. The business has a 50 day simple moving average of $255.98 and a two-hundred day simple moving average of $216.78. Lam Research Corporation has a 12 month low of $79.49 and a 12 month high of $309.98. The stock has a market capitalization of $381.86 billion, a P/E ratio of 57.61, a PEG ratio of 2.53 and a beta of 1.81. 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 quarterly earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.11. The business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.70 billion. Lam Research had a return on equity of 66.21% and a net margin of 30.94%.The business's revenue was up 23.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.04 earnings per share. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. As a group, analysts predict that Lam Research Corporation will post 5.67 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Wednesday, June 17th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Wednesday, June 17th. Lam Research's dividend payout ratio (DPR) is presently 19.62%.

Insider Activity

In other Lam Research news, SVP Neil J. Fernandes sold 18,170 shares of the firm's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $255.14, for a total transaction of $4,635,893.80. Following the transaction, the senior vice president owned 66,129 shares of the company's stock, valued at approximately $16,872,153.06. This trade represents a 21.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ava Harter sold 6,010 shares of the firm's stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $258.66, for a total value of $1,554,546.60. Following the transaction, the insider directly owned 53,205 shares in the company, valued at approximately $13,762,005.30. This represents a 10.15% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 120,066 shares of company stock worth $27,953,242. Corporate insiders own 0.31% of the company's stock.

About Lam Research

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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