Bleakley Financial Group LLC Buys 4,678 Shares of Lam Research Corporation $LRCX

Key Points

• Bleakley Financial Group LLC increased its Lam Research stake by 12.4% in Q1, buying 4,678 additional shares and lifting its holdings to 42,367 shares worth about $9.05 million.
• Lam Research beat earnings expectations in its latest quarterly report, posting $1.47 EPS on $5.84 billion in revenue, with revenue up 23.8% year over year.
• Analysts remain broadly bullish on LRCX, with 28 Buy ratings and an average target price of $350.81, while several firms recently raised their price targets.

Bleakley Financial Group LLC increased its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 12.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,367 shares of the semiconductor company's stock after buying an additional 4,678 shares during the period. Bleakley Financial Group LLC's holdings in Lam Research were worth $9,052,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LRCX. PMV Capital Advisers LLC bought a new position in Lam Research in the 4th quarter worth about $25,000. Stance Capital LLC purchased a new position in shares of Lam Research during the third quarter worth approximately $26,000. Bayban bought a new stake in shares of Lam Research during the fourth quarter valued at approximately $26,000. Vermillion Wealth Management Inc. bought a new stake in shares of Lam Research during the first quarter valued at approximately $26,000. Finally, Cedar Mountain Advisors LLC boosted its holdings 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 valued at $26,000 after purchasing an additional 85 shares during the period. Institutional investors own 84.61% of the company's stock.

Lam Research Stock Performance

Shares of LRCX stock opened at $329.92 on Tuesday. The firm has a market cap of $412.59 billion, a price-to-earnings ratio of 62.25, a PEG ratio of 2.07 and a beta of 1.80. Lam Research Corporation has a 52-week low of $90.93 and a 52-week high of $438.50. The company has a quick ratio of 1.77, a current ratio of 2.54 and a debt-to-equity ratio of 0.35. The company's 50 day moving average is $336.33 and its 200 day moving average is $265.32.

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. The company 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%.Lam Research's revenue was up 23.8% on a year-over-year basis. During the same quarter 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. On average, sell-side analysts anticipate that Lam Research Corporation will post 5.68 EPS for the current fiscal year.

Lam Research Dividend Announcement

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

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 value of $19,118,600.00. Following the transaction, the director owned 199,205 shares in the company, valued at $69,881,114. The trade was a 21.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $2,371,226.40. Following the completion of the transaction, the senior vice president owned 58,470 shares of the company's stock, valued at $18,102,312. This represents a 11.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 86,339 shares of company stock worth $27,680,267 in the last three months. 0.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on LRCX shares. Morgan Stanley increased their price objective on Lam Research from $331.00 to $404.00 and gave the stock an "overweight" rating in a research note on Monday, July 6th. Mizuho lifted 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. B. Riley Financial upped 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. HSBC increased their price target on Lam Research from $221.00 to $247.00 and gave the stock a "hold" rating in a research report on Friday, April 24th. Finally, Raymond James Financial set a $425.00 price target on Lam Research in a research note on Wednesday, June 10th. Twenty-eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, Lam Research presently has an average rating of "Moderate Buy" and an average target price of $350.81.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.