CenterBook Partners LP Lowers Stock Position in Lam Research Corporation $LRCX

Key Points

• CenterBook Partners LP cut its Lam Research stake by 23.6% in the fourth quarter, selling 4,165 shares and leaving it with 13,484 shares worth about $2.3 million.
• Lam Research posted strong results and guidance, beating quarterly EPS and revenue estimates, lifting its 2026 WFE forecast, and maintaining a positive outlook supported by analyst price-target increases.
• Insiders have recently sold shares, including SVP Neil J. Fernandes and insider Ava Harter, while the company also announced a quarterly dividend of $0.26 per share.

CenterBook Partners LP lessened its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 23.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,484 shares of the semiconductor company's stock after selling 4,165 shares during the period. CenterBook Partners LP's holdings in Lam Research were worth $2,308,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Lam Research by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 130,974,214 shares of the semiconductor company's stock worth $17,537,447,000 after buying an additional 364,949 shares during the last quarter. State Street Corp grew its stake in shares of Lam Research by 0.4% in the third quarter. State Street Corp now owns 59,817,352 shares of the semiconductor company's stock worth $8,024,684,000 after acquiring an additional 265,805 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Lam Research by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 33,747,368 shares of the semiconductor company's stock valued at $5,764,117,000 after acquiring an additional 126,613 shares in the last quarter. Norges Bank purchased a new position in shares of Lam Research in the 4th quarter worth about $3,645,427,000. Finally, Invesco Ltd. raised its position in shares of Lam Research by 18.2% in the 3rd quarter. Invesco Ltd. now owns 21,182,948 shares of the semiconductor company's stock worth $2,836,397,000 after purchasing an additional 3,263,658 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Lam Research

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

• Positive Sentiment: UBS lifted its price target on Lam Research to $375 from $310, signaling higher confidence in the company’s outlook and helping drive buying interest. Why Lam Research (LRCX) Stock Is Trading Up Today
• Positive Sentiment: Lam Research said it has raised its 2026 WFE forecast, which points to stronger expected spending in semiconductor manufacturing equipment. Lam Research (LRCX) Raises WFE Forecast at BofA Global Technology Conference
• Neutral Sentiment: Multiple articles highlighted Lam Research as a strategic AI and growth-market investment, but these pieces were more thematic than directly tied to a near-term operating update. Lam Research (LRCX): A Strategic Investment in the Transformative Industry
• Neutral Sentiment: Broad semiconductor-market commentary noted the sector’s recent reversal and a possible correction, which could create volatility for LRCX even if the long-term demand case remains intact. Semiconductor shorts pile on as winning trade reverses
• Negative Sentiment: Some commentary suggested the stock may still look overvalued despite real AI-related tailwinds, which could temper upside if investors focus on valuation. Lam Research: AI Tailwinds Are Real, But The Stock Still Looks Overvalued

Lam Research Trading Up 0.8%

Shares of LRCX stock opened at $327.16 on Wednesday. The company has a current ratio of 2.54, a quick ratio of 1.77 and a debt-to-equity ratio of 0.35. Lam Research Corporation has a 12-month low of $87.75 and a 12-month high of $349.09. The stock has a market capitalization of $409.14 billion, a P/E ratio of 61.73, a P/E/G ratio of 2.69 and a beta of 1.85. The firm's 50 day moving average is $277.79 and its 200 day moving average is $229.81.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share for the quarter, beating 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 business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period in the previous year, the business earned $1.04 EPS. The company's quarterly revenue was up 23.8% compared to the same quarter last year. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. Research analysts expect that Lam Research Corporation will post 5.67 earnings per share for the current year.

Lam Research Announces Dividend

The firm 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 is 19.62%.

Insider Buying and Selling

In other news, 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 completion of the sale, the senior vice president owned 66,129 shares of the company's stock, valued at $16,872,153.06. The trade was a 21.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 on 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 completion of 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 31,839 shares of company stock worth $8,561,667. 0.31% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LRCX shares. BNP Paribas Exane raised their price objective on shares of Lam Research from $250.00 to $260.00 and gave the company a "neutral" rating in a research note on Thursday, April 23rd. TD Cowen increased their price target on shares of Lam Research from $290.00 to $340.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. New Street Research raised their price target on shares of Lam Research from $235.00 to $280.00 and gave the company a "neutral" rating in a research report on Monday, April 27th. 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 report on Friday, April 24th. Finally, Bank of America increased their target price on Lam Research from $285.00 to $330.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Twenty-seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $306.52.

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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