Bleakley Financial Group LLC Grows Position in Lam Research Corporation $LRCX

Key Points

• Bleakley Financial Group increased its stake in Lam Research by 9.9% in the fourth quarter, bringing its holdings to 37,689 shares worth about $6.45 million.
• Wall Street sentiment remains positive overall: Lam Research has 27 Buy ratings and 7 Hold ratings, with a consensus price target of $293.46. Several firms recently raised targets, including B. Riley to $375.
• The company reported strong quarterly results, with EPS of $1.47 beating estimates and revenue of $5.84 billion topping expectations, while also announcing a quarterly dividend of $0.26 per share.

Bleakley Financial Group LLC boosted its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 9.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,689 shares of the semiconductor company's stock after purchasing an additional 3,396 shares during the quarter. Bleakley Financial Group LLC's holdings in Lam Research were worth $6,452,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. PMV Capital Advisers LLC purchased a new stake in Lam Research during the fourth quarter worth approximately $25,000. Stance Capital LLC purchased a new stake in Lam Research during the third quarter worth approximately $26,000. Triumph Capital Management purchased a new stake in Lam Research during the third quarter worth approximately $27,000. Strategic Wealth Investment Group LLC purchased a new stake in Lam Research during the second quarter worth approximately $29,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in Lam Research during the third quarter worth approximately $40,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LRCX has been the subject of several research reports. HSBC boosted their price objective on shares of Lam Research from $221.00 to $247.00 and gave the stock a "hold" rating in a research note on Friday, April 24th. B. Riley Financial boosted their price objective on shares of Lam Research from $350.00 to $375.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Needham & Company LLC reiterated a "buy" rating and set a $300.00 price objective on shares of Lam Research in a research note on Thursday, April 23rd. Barclays set a $275.00 price objective on shares of Lam Research and gave the stock an "equal weight" rating in a research note on Thursday, April 23rd. Finally, UBS Group set a $300.00 price objective on shares of Lam Research in a research note on Thursday, January 29th. Twenty-seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $293.46.

Lam Research Trading Up 5.7%

LRCX opened at $322.68 on Wednesday. The stock has a market capitalization of $403.53 billion, a PE ratio of 60.88, a P/E/G ratio of 2.53 and a beta of 1.81. The firm's fifty day moving average price is $258.19 and its 200 day moving average price is $217.89. 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 Corporation has a 12-month low of $79.49 and a 12-month high of $323.98.

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 the consensus estimate of $1.36 by $0.11. The firm had revenue of $5.84 billion for the quarter, compared to analysts' expectations of $5.70 billion. Lam Research had a net margin of 30.94% and a return on equity of 66.21%. The firm's quarterly revenue was up 23.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.04 earnings per share. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. As a group, research analysts expect that Lam Research Corporation will post 5.67 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 17th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, June 17th. This represents a $1.04 annualized dividend and a yield of 0.3%. Lam Research's payout ratio is presently 19.62%.

Insider Buying and Selling at Lam Research

In other Lam Research news, insider Ava Harter sold 6,010 shares of the business's stock in a transaction on Monday, April 27th. The shares were sold at an average price of $258.66, for a total transaction of $1,554,546.60. Following the completion of the sale, the insider owned 53,205 shares in the company, valued at $13,762,005.30. The trade was a 10.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Neil J. Fernandes sold 18,170 shares of the business's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $255.14, for a total transaction of $4,635,893.80. Following the sale, the senior vice president owned 66,129 shares of the company's stock, valued at approximately $16,872,153.06. The trade was a 21.55% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 120,066 shares of company stock worth $27,953,242 over the last 90 days. 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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