Exchange Traded Concepts LLC grew its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 59.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 214,465 shares of the semiconductor company's stock after purchasing an additional 79,850 shares during the period. Lam Research comprises approximately 0.4% of Exchange Traded Concepts LLC's investment portfolio, making the stock its 27th largest position. Exchange Traded Concepts LLC's holdings in Lam Research were worth $92,934,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in LRCX. Cedar Mountain Advisors LLC raised its stake in Lam Research by 242.9% during the 1st quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company's stock worth $26,000 after buying an additional 85 shares during the period. Vermillion Wealth Management Inc. acquired a new stake in Lam Research in the first quarter valued at approximately $26,000. Hughes Financial Services LLC lifted its holdings in shares of Lam Research by 54.9% in the 2nd quarter. Hughes Financial Services LLC now owns 141 shares of the semiconductor company's stock worth $61,000 after purchasing an additional 50 shares in the last quarter. Bayban bought a new position in shares of Lam Research in the 4th quarter worth $26,000. Finally, Mcguire Capital Advisors Inc. acquired a new stake in Lam Research in the 4th quarter valued at $27,000. Institutional investors and hedge funds own 84.61% of the company's stock.
Insider Activity at Lam Research
In related news, Director Abhijit Y. Talwalkar sold 18,282 shares of Lam Research stock in a transaction on Monday, July 13th. The shares were sold at an average price of $335.00, for a total value of $6,124,470.00. Following the transaction, the director owned 87,142 shares in the company, valued at $29,192,570. This trade 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, Director Eric Brandt sold 54,500 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $350.80, for a total value of $19,118,600.00. Following the completion of the sale, the director directly owned 199,205 shares of the company's stock, valued at approximately $69,881,114. This trade 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. In the last three months, insiders have sold 80,441 shares of company stock valued at $27,614,296. Corporate insiders own 0.31% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on LRCX. Raymond James Financial set a $425.00 price objective on shares of Lam Research in a report on Wednesday, June 10th. Bank of America upped their target price on shares of Lam Research from $330.00 to $480.00 and gave the stock a "buy" rating in a report on Tuesday, June 23rd. TD Cowen reiterated a "buy" rating and set a $400.00 price target (up from $340.00) on shares of Lam Research in a research note on Thursday, July 9th. UBS Group reissued a "buy" rating and set a $375.00 price objective (up from $310.00) on shares of Lam Research in a report on Tuesday, June 9th. Finally, Sanford C. Bernstein increased their price objective on Lam Research from $325.00 to $340.00 and gave the stock an "outperform" rating in a research note on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $358.47.
Check Out Our Latest Stock Analysis on LRCX
Lam Research Price Performance
Shares of NASDAQ LRCX opened at $314.00 on Friday. The stock has a market cap of $392.91 billion, a PE ratio of 54.51, a price-to-earnings-growth ratio of 1.23 and a beta of 1.84. Lam Research Corporation has a fifty-two week low of $94.11 and a fifty-two week high of $438.50. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.91 and a current ratio of 2.63. The stock has a fifty day moving average of $337.47 and a 200-day moving average of $286.09.
Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $1.82 EPS for the quarter, beating analysts' consensus estimates of $1.69 by $0.13. The company had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.66 billion. Lam Research had a net margin of 31.27% and a return on equity of 67.60%. Lam Research's revenue was up 30.0% compared to the same quarter last year. During the same period last year, the business earned $1.33 earnings per share. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. Equities research analysts anticipate that Lam Research Corporation will post 9.32 earnings per share for the current year.
Lam Research Company Profile
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Free Report)
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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