Envestnet Portfolio Solutions Inc. Sells 27,271 Shares of Lam Research Corporation $LRCX

Key Points

• Envestnet Portfolio Solutions Inc. reduced its Lam Research stake by 17.1% in the fourth quarter, selling 27,271 shares and leaving it with 132,491 shares valued at about $22.68 million.
• Lam Research reported strong quarterly results, posting EPS of $1.47 versus estimates of $1.36 and revenue of $5.84 billion versus expectations of $5.70 billion, with revenue up 23.8% year over year.
• Analysts remain broadly upbeat: JPMorgan and Wells Fargo raised price targets, and the stock currently has a Moderate Buy consensus with an average target price of $292.97.

Envestnet Portfolio Solutions Inc. cut its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 17.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,491 shares of the semiconductor company's stock after selling 27,271 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Lam Research were worth $22,680,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LRCX. Gambit Capital Management LLC acquired a new position in shares of Lam Research in the 4th quarter valued at $277,000. Cornerstone Management Inc. acquired a new stake in shares of Lam Research during the 4th quarter valued at about $690,000. WD Rutherford LLC increased its stake in Lam Research by 21.0% in the fourth quarter. WD Rutherford LLC now owns 10,063 shares of the semiconductor company's stock valued at $1,723,000 after acquiring an additional 1,747 shares during the period. Ironwood Investment Counsel LLC bought a new stake in Lam Research in the fourth quarter valued at about $1,111,000. Finally, Intrua Financial LLC acquired a new position in Lam Research in the fourth quarter worth about $274,000. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Performance

Shares of NASDAQ:LRCX opened at $277.96 on Tuesday. The business has a fifty day moving average of $247.50 and a 200-day moving average of $211.98. 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 twelve month low of $79.49 and a twelve month high of $302.00. The firm has a market cap of $347.61 billion, a PE ratio of 52.45, a price-to-earnings-growth ratio of 2.36 and a beta of 1.81.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The semiconductor company reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.11. The firm had revenue of $5.84 billion for 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%. The company's revenue was up 23.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.04 EPS. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. On average, equities research analysts predict that Lam Research Corporation will post 5.67 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Lam Research from $300.00 to $315.00 and gave the company an "overweight" rating in a report on Thursday, April 23rd. Wall Street Zen downgraded Lam Research from a "buy" rating to a "hold" rating in a research report on Sunday, May 10th. HSBC boosted their price target on Lam Research from $221.00 to $247.00 and gave the company a "hold" rating in a research note on Friday, April 24th. Wells Fargo & Company increased their price objective on Lam Research from $290.00 to $320.00 and gave the stock an "overweight" rating in a research note on Thursday, April 23rd. Finally, Weiss Ratings cut Lam Research from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday. Twenty-seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $292.97.

Insider Activity

In other Lam Research news, insider Ava Harter sold 6,010 shares of the company's stock in a transaction on Monday, April 27th. The stock was sold at an average price of $258.66, for a total transaction of $1,554,546.60. Following the transaction, the insider owned 53,205 shares of the company's stock, valued at approximately $13,762,005.30. This represents a 10.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Neil J. Fernandes sold 18,170 shares of Lam Research stock in a transaction on Friday, May 1st. The shares were sold at an average price of $255.14, for a total value of $4,635,893.80. Following the completion of the sale, the senior vice president directly owned 66,129 shares of the company's stock, valued at $16,872,153.06. This trade represents a 21.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 120,066 shares of company stock valued at $27,953,242 over the last three months. 0.31% of the stock is owned by insiders.

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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