Envestnet Portfolio Solutions Inc. Has $46.95 Million Position in Lam Research Corporation $LRCX

Key Points

• Envestnet Portfolio Solutions reduced its Lam Research position by 4.2% in the second quarter, retaining 108,335 shares valued at approximately $46.95 million. Institutional investors collectively own 84.61% of LRCX.
• Lam Research reported quarterly EPS of $1.82, beating estimates of $1.69, while revenue rose 30% year over year to $6.72 billion. The company also increased its quarterly dividend to $0.33 per share.
• LRCX shares recently traded down 1.2% at $307.28, while analysts maintained a broadly bullish outlook with a “Moderate Buy” consensus and an average price target of $361.81.

Envestnet Portfolio Solutions Inc. lessened its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 4.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 108,335 shares of the semiconductor company's stock after selling 4,746 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Lam Research were worth $46,945,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp lifted its position in shares of Lam Research by 2.6% during the 2nd quarter. State Street Corp now owns 60,704,130 shares of the semiconductor company's stock valued at $26,320,468,000 after acquiring an additional 1,545,830 shares during the period. Geode Capital Management LLC increased its stake in Lam Research by 0.4% in 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 purchasing an additional 126,613 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Lam Research by 5.5% during the second quarter. Bank of America Corp DE now owns 11,244,147 shares of the semiconductor company's stock valued at $4,872,426,000 after purchasing an additional 584,489 shares during the period. Van ECK Associates Corp boosted its position in shares of Lam Research by 411.8% during the 2nd quarter. Van ECK Associates Corp now owns 11,089,395 shares of the semiconductor company's stock worth $4,805,368,000 after purchasing an additional 8,922,854 shares in the last quarter. Finally, Invesco Ltd. boosted its position 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 in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lam Research

In other Lam Research 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 value of $6,124,470.00. Following the completion of the transaction, the director owned 87,142 shares in the company, valued at $29,192,570. This represents a 17.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ava Harter sold 5,000 shares of the firm's stock in a transaction on Monday, August 31st. The shares were sold at an average price of $302.46, for a total value of $1,512,300.00. Following the sale, the insider directly owned 42,462 shares of the company's stock, valued at approximately $12,843,056.52. This represents a 10.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 32,839 shares of company stock valued at $10,644,740. 0.31% of the stock is owned by insiders.

Lam Research Stock Down 1.2%

Shares of LRCX traded down $3.68 during trading hours on Wednesday, reaching $307.28. 9,124,912 shares of the stock traded hands, compared to its average volume of 10,898,841. The company has a current ratio of 2.63, a quick ratio of 1.91 and a debt-to-equity ratio of 0.30. The stock has a fifty day simple moving average of $305.28 and a 200 day simple moving average of $296.62. Lam Research Corporation has a 52 week low of $125.02 and a 52 week high of $438.50. The company has a market cap of $384.51 billion, a price-to-earnings ratio of 53.35, a PEG ratio of 1.20 and a beta of 1.85.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $1.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.69 by $0.13. The business had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.66 billion. Lam Research had a net margin of 31.27% and a return on equity of 67.60%. The firm's quarterly revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.33 EPS. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. On average, equities analysts forecast that Lam Research Corporation will post 9.33 EPS for the current year.

Lam Research Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 23rd will be issued a $0.33 dividend. This is a boost from Lam Research's previous quarterly dividend of $0.26. This represents a $1.32 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, September 23rd. Lam Research's dividend payout ratio is currently 18.06%.

Wall Street Analysts Forecast Growth

LRCX has been the subject of a number of research analyst reports. Cantor Fitzgerald set a $500.00 target price on Lam Research and gave the company an "overweight" rating in a research report on Monday, June 29th. Raymond James Financial set a $425.00 price target on Lam Research in a report on Wednesday, June 10th. Zacks Research raised Lam Research from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 17th. Barclays restated an "overweight" rating and set a $335.00 price objective (up from $275.00) on shares of Lam Research in a report on Thursday, June 11th. Finally, Mizuho lowered their target price on Lam Research from $370.00 to $365.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $361.81.

Lam Research Profile

Lam Research Corporation is a semiconductor equipment company that develops and manufactures systems used in the fabrication of integrated circuits. Its equipment supports key wafer-processing steps, including deposition, etch, wafer cleaning, and related processes used to create and connect the microscopic features found on semiconductor devices.

The company serves semiconductor manufacturers producing a range of products, including memory, logic, and specialty chips. In addition to manufacturing equipment, Lam Research provides installation, maintenance, spare parts, upgrades, technical support, and other services intended to help customers operate and improve their fabrication facilities.

Founded in 1980, Lam Research is headquartered in Fremont, California, and serves customers through a global network of offices, engineering facilities, and support operations.

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