Conning Inc. Sells 2,003 Shares of Lam Research Corporation $LRCX

Key Points

• Conning Inc. reduced its stake in Lam Research Corporation by 3.3% during the 2nd quarter, selling 2,003 shares, leaving it with a total of 58,610 shares valued at approximately $5.7 million.
• Since the beginning of the year, several institutions, such as Smallwood Wealth Investment Management and the Saudi Central Bank, have initiated positions in Lam Research, highlighting an increased institutional interest in the company.
• Lam Research's stock has a current market capitalization of $165.66 billion and recently reported impressive earnings, exceeding analyst estimates with a revenue of $5.17 billion for the last quarter.

Conning Inc. cut its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 3.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,610 shares of the semiconductor company's stock after selling 2,003 shares during the period. Conning Inc.'s holdings in Lam Research were worth $5,705,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Smallwood Wealth Investment Management LLC purchased a new position in Lam Research during the first quarter valued at $26,000. REAP Financial Group LLC purchased a new position in Lam Research during the second quarter valued at $31,000. 1 North Wealth Services LLC purchased a new position in Lam Research during the first quarter valued at $36,000. Rossby Financial LCC purchased a new position in Lam Research during the first quarter valued at $37,000. Finally, Saudi Central Bank purchased a new position in Lam Research during the first quarter valued at $37,000. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LRCX. Oppenheimer raised their target price on shares of Lam Research from $110.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. KeyCorp raised their target price on shares of Lam Research from $105.00 to $115.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Needham & Company LLC raised their target price on shares of Lam Research from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Wall Street Zen raised shares of Lam Research from a "hold" rating to a "buy" rating in a research note on Saturday, October 4th. Finally, Summit Insights cut shares of Lam Research from a "buy" rating to a "hold" rating in a research note on Thursday, July 31st. Twenty-three equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $121.00.

Lam Research Price Performance

Lam Research stock opened at $131.37 on Friday. The firm has a 50-day moving average price of $114.80 and a 200-day moving average price of $94.46. The firm has a market capitalization of $165.66 billion, a PE ratio of 31.58, a price-to-earnings-growth ratio of 1.72 and a beta of 1.84. The company has a current ratio of 2.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.38. Lam Research Corporation has a 12-month low of $56.32 and a 12-month high of $153.70.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. The firm had revenue of $5.17 billion during the quarter, compared to analyst estimates of $4.99 billion. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The business's revenue was up 33.6% on a year-over-year basis. During the same quarter last year, the business earned $1.03 EPS. Lam Research has set its Q1 2026 guidance at 1.100-1.300 EPS. As a group, equities research analysts forecast that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 24th will be issued a $0.26 dividend. This is a boost from Lam Research's previous quarterly dividend of $0.23. The ex-dividend date is Wednesday, September 24th. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. Lam Research's dividend payout ratio (DPR) is 25.00%.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.

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