Cullinan Associates Inc. Takes Position in Lam Research Corporation $LRCX

Key Points

• Cullinan Associates Inc. opened a new position in Lam Research in the first quarter, buying 64,500 shares worth about $13.8 million. The stock now makes up roughly 1.1% of the firm’s portfolio.
• Wall Street sentiment remains constructive, with several analysts lifting price targets recently; the consensus rating is Moderate Buy and the average price target is $350.81. Recent calls from Mizuho, Stifel, and Needham all pointed to upside tied to AI-driven chip demand and semiconductor equipment spending.
• Lam Research reported strong quarterly results, beating earnings and revenue estimates, and it also paid a quarterly dividend of $0.26 per share. Despite insider selling in recent months, institutional investors still own 84.61% of the company.

Cullinan Associates Inc. acquired a new position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 64,500 shares of the semiconductor company's stock, valued at approximately $13,781,000. Lam Research accounts for approximately 1.1% of Cullinan Associates Inc.'s holdings, making the stock its 22nd biggest holding.

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

Analysts Set New Price Targets

LRCX has been the subject of several recent analyst reports. B. Riley Financial raised their target price on Lam Research from $350.00 to $375.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. New Street Research increased their price target on Lam Research from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Monday, April 27th. Seaport Research Partners initiated coverage on shares of Lam Research in a research report on Monday, May 4th. They set a "buy" rating and a $300.00 price objective for the company. Raymond James Financial set a $425.00 price objective on shares of Lam Research in a research note on Wednesday, June 10th. Finally, Wall Street Zen downgraded shares of Lam Research from a "buy" rating to a "hold" rating in a research report on Sunday, May 10th. Twenty-eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, Lam Research presently has a consensus rating of "Moderate Buy" and a consensus price target of $350.81.

Insider Buying and Selling at Lam Research

In other news, insider Ava Harter sold 6,010 shares of the business's stock in a transaction dated 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 completion of the sale, the insider directly owned 53,205 shares of the company's stock, valued at $13,762,005.30. The trade was a 10.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eric Brandt sold 54,500 shares of the company's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $350.80, for a total transaction of $19,118,600.00. Following the completion of the sale, the director owned 199,205 shares in the company, valued at $69,881,114. This represents a 21.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 86,339 shares of company stock valued at $27,680,267. Corporate insiders own 0.31% of the company's stock.

Lam Research News Roundup

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

• Positive Sentiment: Mizuho raised its price target on Lam Research to $400 from $380 and kept an outperform rating, adding to the bullish analyst momentum around the stock.
• Positive Sentiment: Stifel Nicolaus boosted its target to $425 from $325 and reiterated a buy rating, citing above-consensus estimates and suggesting further upside for LRCX.
• Positive Sentiment: Needham also increased its target to $390 from $300 and maintained a buy rating, reinforcing the view that Lam Research is well positioned to benefit from AI-driven chip demand.
• Positive Sentiment: Additional coverage highlighted Lam Research as a beneficiary of broader AI infrastructure spending and possible easing of China-related chip restrictions, which could improve sentiment across semiconductor equipment names. Does AI Rebound and China Chip Access Shift Change The Bull Case For Lam Research (LRCX)?
• Neutral Sentiment: Lam Research announced that it will host its June quarter financial conference call and webcast on July 29, giving investors a near-term catalyst to watch.
• Neutral Sentiment: Short-interest data showed no meaningful change, with reported short interest at zero shares, so it does not appear to be a factor driving the move.

Lam Research Stock Down 0.8%

NASDAQ:LRCX traded down $2.84 on Friday, hitting $350.33. The stock had a trading volume of 6,880,746 shares, compared to its average volume of 13,276,366. The company has a quick ratio of 1.77, a current ratio of 2.54 and a debt-to-equity ratio of 0.35. Lam Research Corporation has a 52 week low of $90.93 and a 52 week high of $438.50. The business's fifty day moving average is $334.89 and its 200 day moving average is $263.61. The company has a market cap of $438.11 billion, a PE ratio of 66.10, a P/E/G ratio of 2.07 and a beta of 1.80.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share for the quarter, topping analysts' consensus estimates of $1.36 by $0.11. Lam Research had a return on equity of 66.21% and a net margin of 30.94%.The company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period in the prior year, the firm earned $1.04 earnings per share. Lam Research's revenue for the quarter was up 23.8% on a year-over-year basis. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. On average, equities research analysts expect that Lam Research Corporation will post 5.68 EPS for the current fiscal year.

Lam Research Announces Dividend

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

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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