Boothbay Fund Management LLC Sells 39,907 Shares of Lam Research Corporation $LRCX

Key Points

• Boothbay Fund Management cut its Lam Research stake by 43.6% in the fourth quarter, selling 39,907 shares and leaving it with 51,652 shares worth about $8.84 million.
• Wall Street sentiment remains positive on LRCX, with 28 analysts rating it a Buy and six a Hold; the average price target is $333.62, while several firms recently raised targets, including Barclays to $335.
• Lam Research posted strong recent results, beating earnings and revenue estimates, and its stock has surged to $374.18, near its 52-week high of $397.63. The company also announced a quarterly dividend of $0.26 per share, payable July 8.

Boothbay Fund Management LLC trimmed its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 43.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 51,652 shares of the semiconductor company's stock after selling 39,907 shares during the period. Boothbay Fund Management LLC's holdings in Lam Research were worth $8,842,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. PMV Capital Advisers LLC bought a new stake in Lam Research in the 4th quarter worth about $25,000. Core Wealth Advisors LLC bought a new stake in Lam Research in the 4th quarter worth about $29,000. University of Illinois Foundation bought a new stake in Lam Research in the 4th quarter worth about $30,000. Wilkerson Advisory Group LLC bought a new stake in Lam Research in the 4th quarter worth about $33,000. Finally, Stance Capital LLC bought a new stake in Lam Research in the 3rd quarter worth about $26,000. 84.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LRCX. BNP Paribas Exane increased their target price on shares of Lam Research from $250.00 to $260.00 and gave the company a "neutral" rating in a research report on Thursday, April 23rd. Needham & Company LLC reissued a "buy" rating and set a $300.00 target price on shares of Lam Research in a research report on Thursday, April 23rd. Barclays reissued an "overweight" rating and set a $335.00 target price (up from $275.00) on shares of Lam Research in a research report on Thursday, June 11th. Royal Bank Of Canada increased their target price on shares of Lam Research from $290.00 to $310.00 and gave the company an "outperform" rating in a research report on Thursday, April 23rd. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $290.00 target price on shares of Lam Research in a research report on Thursday, April 23rd. Twenty-eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $333.62.

Lam Research Stock Performance

Shares of LRCX stock opened at $374.18 on Thursday. The stock has a market capitalization of $467.94 billion, a P/E ratio of 70.60, a PEG ratio of 3.04 and a beta of 1.85. The company has a current ratio of 2.54, a quick ratio of 1.77 and a debt-to-equity ratio of 0.35. The firm's 50 day moving average is $295.60 and its 200 day moving average is $238.88. Lam Research Corporation has a 12 month low of $87.75 and a 12 month high of $397.63.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.36 by $0.11. The company 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%. Lam Research's revenue was up 23.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.04 EPS. 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 5.7 earnings per share for the current year.

Lam Research Dividend Announcement

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

Key Headlines Impacting Lam Research

Here are the key news stories impacting Lam Research this week:

• Positive Sentiment: Rothschild & Co Redburn raised its price target on Lam Research to $420 from $305 and reiterated a buy rating, signaling confidence in further upside. MarketScreener article on Rothschild & Co Redburn target raise
• Positive Sentiment: Citi also boosted its Lam Research price target to $450 from $315, citing booming wafer fab equipment demand and stronger forecast assumptions for the semiconductor capital spending cycle. Yahoo/Investing.com article on Citi target hike
• Positive Sentiment: Analyst and market commentary continue to point to strong memory-equipment demand and AI-driven packaging growth as key growth catalysts for Lam Research. Motley Fool article on memory stock and Lam Research growth
• Positive Sentiment: Multiple articles describe Lam Research as a profitable, high-quality growth stock, which supports investor enthusiasm around its earnings power and premium valuation. Insider Monkey article on most profitable American stocks
• Neutral Sentiment: There was also insider selling by a director under a pre-arranged 10b5-1 plan, which is notable but not necessarily a negative signal. SEC filing for director share sale
• Neutral Sentiment: The broader chip-equipment group is rallying with Intel’s manufacturing update lifting sentiment across semiconductor stocks, adding sector tailwinds for LRCX. Yahoo/Investing.com article on chip stocks rebound

Insider Activity at Lam Research

In related news, SVP Neil J. Fernandes sold 7,659 shares of the company's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $309.60, for a total transaction of $2,371,226.40. Following the sale, the senior vice president directly owned 58,470 shares in the company, valued at approximately $18,102,312. This represents a 11.58% decrease in their position. The sale was disclosed in a filing 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 company's stock in a transaction that occurred 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 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 SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 86,339 shares of company stock worth $27,680,267. 0.31% of the stock is owned by corporate 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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