Fifth Third Bancorp Sells 4,176 Shares of Lam Research Corporation $LRCX

Key Points

• Fifth Third Bancorp has reduced its stake in Lam Research Corporation by selling 4,176 shares, bringing its total holdings to 153,605 shares valued at approximately $14.95 million.
• Lam Research reported earnings of $1.33 per share, exceeding analysts' expectations of $1.21, and achieved a quarterly revenue of $5.17 billion, which is a 33.6% increase year-over-year.
• The company announced a quarterly dividend increase from $0.23 to $0.26 per share, reflecting a commitment to returning value to shareholders.

Fifth Third Bancorp trimmed its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 153,605 shares of the semiconductor company's stock after selling 4,176 shares during the quarter. Fifth Third Bancorp's holdings in Lam Research were worth $14,952,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of LRCX. Smallwood Wealth Investment Management LLC bought a new stake in Lam Research during the first quarter valued at approximately $26,000. Bruce G. Allen Investments LLC lifted its holdings in shares of Lam Research by 207.3% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 421 shares of the semiconductor company's stock worth $41,000 after acquiring an additional 284 shares during the last quarter. Park Square Financial Group LLC purchased a new position in Lam Research in the fourth quarter worth $31,000. 1 North Wealth Services LLC bought a new position in Lam Research in the first quarter valued at $36,000. Finally, Saudi Central Bank bought a new position in Lam Research in the first quarter valued at $37,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Price Performance

LRCX stock opened at $128.32 on Thursday. The stock has a market capitalization of $161.82 billion, a price-to-earnings ratio of 30.85, a PEG ratio of 1.68 and a beta of 1.76. The firm's 50-day moving average price is $105.18 and its two-hundred day moving average price is $89.35. 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 $133.57.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted 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. Lam Research had a return on equity of 58.17% and a net margin of 29.07%.The company had revenue of $5.17 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same period last year, the firm earned $1.03 earnings per share. Lam Research's quarterly revenue was up 33.6% on a year-over-year basis. Lam Research has set its Q1 2026 guidance at 1.100-1.300 EPS. As a group, equities analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 24th will be issued a dividend of $0.26 per share. This is a boost from Lam Research's previous quarterly dividend of $0.23. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, September 24th. Lam Research's dividend payout ratio is currently 22.12%.

Analyst Upgrades and Downgrades

LRCX has been the subject of a number of research reports. Barclays set a $83.00 price objective on Lam Research and gave the stock an "equal weight" rating in a report on Monday, July 28th. KeyCorp upped their target price on Lam Research from $105.00 to $115.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Cantor Fitzgerald lifted their price target on shares of Lam Research from $115.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Wall Street Zen cut shares of Lam Research from a "buy" rating to a "hold" rating in a research note on Saturday, September 20th. Finally, UBS Group increased their target price on shares of Lam Research from $95.00 to $120.00 and gave the company a "buy" rating in a report on Monday, July 21st. Twenty investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Lam Research currently has an average rating of "Moderate Buy" and an average target price of $111.35.

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.

Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lam Research Corporation (NASDAQ:LRCX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.