Cetera Investment Advisers Trims Stake in Lam Research Corporation $LRCX

Key Points

• Cetera Investment Advisers trimmed its Lam Research position by 5.4% in the first quarter, selling 21,460 shares and ending with 377,593 shares valued at about $80.7 million.
• Lam Research posted strong quarterly results, reporting earnings of $1.47 per share versus the $1.36 estimate and revenue of $5.84 billion, up 23.8% year over year.
• Analyst sentiment remains broadly positive, with multiple firms raising price targets and MarketBeat data showing a consensus “Moderate Buy” rating and average target price of $360.51.

Cetera Investment Advisers lessened its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 5.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 377,593 shares of the semiconductor company's stock after selling 21,460 shares during the quarter. Cetera Investment Advisers' holdings in Lam Research were worth $80,676,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. State Street Corp raised its stake in Lam Research by 0.4% in the 3rd quarter. State Street Corp now owns 59,817,352 shares of the semiconductor company's stock valued at $8,024,684,000 after purchasing an additional 265,805 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Lam Research by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 33,747,368 shares of the semiconductor company's stock valued at $5,764,117,000 after purchasing an additional 126,613 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Lam Research by 7.7% during the 4th quarter. Invesco Ltd. now owns 22,821,354 shares of the semiconductor company's stock worth $3,906,559,000 after purchasing an additional 1,638,406 shares during the last quarter. Norges Bank acquired a new stake in shares of Lam Research during the 4th quarter worth about $3,645,427,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Lam Research by 352.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,695,210 shares of the semiconductor company's stock worth $2,344,347,000 after buying an additional 10,666,540 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Price Performance

LRCX opened at $319.78 on Friday. The company's 50 day simple moving average is $341.33 and its 200 day simple moving average is $273.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.77 and a current ratio of 2.54. Lam Research Corporation has a 1 year low of $90.93 and a 1 year high of $438.50. The stock has a market capitalization of $399.91 billion, a PE ratio of 60.34, a P/E/G ratio of 1.90 and a beta of 1.80.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.36 by $0.11. The firm had revenue of $5.84 billion during the quarter, compared to analyst estimates 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 for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.04 earnings per share. As a group, sell-side analysts expect that Lam Research Corporation will post 5.68 EPS for the current year.

Lam Research Announces Dividend

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

Insider Activity at Lam Research

In other news, Director Abhijit Y. Talwalkar sold 18,282 shares of the company's stock in a transaction on Monday, July 13th. The stock was sold at an average price of $335.00, for a total transaction of $6,124,470.00. Following the completion of the sale, the director directly owned 87,142 shares in the company, valued at $29,192,570. This represents a 17.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Neil J. Fernandes sold 7,659 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $309.60, for a total value of $2,371,226.40. Following the completion of the transaction, the senior vice president directly owned 58,470 shares in the company, valued at $18,102,312. This trade 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 104,621 shares of company stock valued at $33,804,737 over the last quarter. 0.31% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

LRCX has been the subject of a number of analyst reports. Seaport Research Partners began coverage on shares of Lam Research in a research report on Monday, May 4th. They issued a "buy" rating and a $300.00 price objective for the company. Berenberg Bank raised their target price on shares of Lam Research from $265.00 to $335.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. B. Riley Financial lifted their target price 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. Sanford C. Bernstein boosted their price target on Lam Research from $325.00 to $340.00 and gave the company an "outperform" rating in a report on Thursday, May 21st. Finally, HSBC increased their price target on Lam Research from $221.00 to $247.00 and gave the stock a "hold" rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $360.51.

Trending Headlines about Lam Research

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

• Positive Sentiment: Lam Research is being highlighted as one of the semiconductor names likely to benefit from the ongoing AI infrastructure buildout, with investors continuing to favor chip equipment companies tied to advanced manufacturing. Billionaire Investor Philippe Laffont's Top 5 Tech Picks
• Positive Sentiment: Recent coverage says Lam Research heads into its next earnings report with the ingredients for a possible beat, suggesting expectations are constructive ahead of results. Lam Research (LRCX) Earnings Expected to Grow: What to Know Ahead of Next Week's Release
• Positive Sentiment: Wall Street’s generally bullish view on Lam Research is another supportive factor, with analyst sentiment implying confidence in the company’s longer-term fundamentals. Is It Worth Investing in Lam Research (LRCX) Based on Wall Street's Bullish Views?
• Neutral Sentiment: Lam Research recently joined the AI Materials Foundry as a founding partner, reinforcing its AI relevance, but the article also notes that the stock has cooled recently after a strong run. Lam Research (LRCX) Following AI Materials Foundry Move Looks About Right
• Neutral Sentiment: Broader semiconductor optimism remains intact, with semiconductor ETFs up sharply this year and investors watching Intel’s earnings as a read-through for the group. Semiconductor ETFs Surge Ahead of Intel Earnings
• Negative Sentiment: Some market commentary points to profit-taking in technology stocks ahead of major earnings releases, which can weigh on sentiment across the semiconductor sector, including Lam Research. Nasdaq slips and Dow climbs as investors brace for big tech earnings, Super Micro surges

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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