Clearbridge Investments LLC Raises Holdings in Lam Research Corporation $LRCX

Key Points

• Clearbridge Investments increased its Lam Research stake by 5.5% in the fourth quarter, buying 23,687 more shares and lifting its total position to 451,872 shares worth about $77.35 million.
• Several other large institutional investors also boosted or initiated positions in LRCX, and hedge funds and other institutions now own about 84.61% of the company’s stock.
• Lam Research reported stronger-than-expected quarterly results, with EPS of $1.47 and revenue of $5.84 billion, while analysts remain broadly positive with an average Moderate Buy rating and a $303.30 price target.

Clearbridge Investments LLC grew its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 451,872 shares of the semiconductor company's stock after purchasing an additional 23,687 shares during the quarter. Clearbridge Investments LLC's holdings in Lam Research were worth $77,351,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Lam Research by 0.3% during the third quarter. Vanguard Group Inc. now owns 130,974,214 shares of the semiconductor company's stock worth $17,537,447,000 after purchasing an additional 364,949 shares during the last quarter. State Street Corp grew its holdings in shares of Lam Research by 0.4% during the third quarter. State Street Corp now owns 59,817,352 shares of the semiconductor company's stock worth $8,024,684,000 after purchasing an additional 265,805 shares during the last quarter. Geode Capital Management LLC grew 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 worth $5,764,117,000 after purchasing an additional 126,613 shares during the last quarter. Norges Bank purchased a new position in shares of Lam Research during the fourth quarter worth about $3,645,427,000. Finally, Invesco Ltd. grew its holdings in shares of Lam Research by 18.2% during the third 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. Hedge funds and other institutional investors own 84.61% of the company's stock.

Insider Buying and Selling

In other news, SVP Neil J. Fernandes sold 7,659 shares of Lam Research 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 completion of the sale, the senior vice president directly owned 58,470 shares in the company, valued at approximately $18,102,312. This trade represents a 11.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ava Harter sold 6,010 shares of Lam Research 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 of the company's stock, valued at approximately $13,762,005.30. The trade was a 10.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 31,839 shares of company stock valued at $8,561,667. Insiders own 0.31% of the company's stock.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $324.45 on Tuesday. 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 has a market cap of $405.75 billion, a P/E ratio of 61.22, a PEG ratio of 2.51 and a beta of 1.85. Lam Research Corporation has a 52 week low of $87.02 and a 52 week high of $346.19. The company has a 50-day moving average price of $275.48 and a 200 day moving average price of $228.55.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.70 billion. Lam Research had a net margin of 30.94% and a return on equity of 66.21%. The firm's revenue was up 23.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.04 earnings per share. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. Research analysts predict that Lam Research Corporation will post 5.67 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Wednesday, June 17th will be given 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 (DPR) is presently 19.62%.

Analysts Set New Price Targets

Several brokerages have issued reports on LRCX. Oppenheimer reaffirmed an "outperform" rating and set a $330.00 price objective on shares of Lam Research in a report on Thursday, April 23rd. Evercore raised their price target on Lam Research from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. Bank of America raised their price target on Lam Research from $285.00 to $330.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft raised their price target on Lam Research from $300.00 to $325.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Finally, Barclays set a $275.00 price target on Lam Research and gave the stock an "equal weight" rating in a report on Thursday, April 23rd. Twenty-seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $303.30.

Lam Research Company 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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