First Merchants Corp Sells 34,231 Shares of Lam Research Corporation $LRCX

Key Points

• First Merchants Corp reduced its stake in Lam Research by 24.8% in the first quarter, selling 34,231 shares and leaving it with 103,767 shares worth about $22.2 million.
• Wall Street sentiment remains upbeat: several analysts raised price targets, and the stock now carries an average Moderate Buy rating with a consensus target price of $333.62.
• Lam Research posted strong quarterly results, beating EPS and revenue estimates, while also benefiting from optimism around AI-driven demand and its wafer-fab equipment opportunity.

First Merchants Corp trimmed its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 24.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,767 shares of the semiconductor company's stock after selling 34,231 shares during the period. First Merchants Corp's holdings in Lam Research were worth $22,171,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Lam Research during the fourth quarter valued at approximately $3,645,427,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Lam Research by 352.2% in the fourth 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 in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Lam Research by 781.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 11,340,865 shares of the semiconductor company's stock worth $1,518,542,000 after purchasing an additional 10,053,978 shares during the last quarter. Franklin Resources Inc. raised its position in Lam Research by 57.0% in the 4th quarter. Franklin Resources Inc. now owns 10,110,560 shares of the semiconductor company's stock worth $1,730,724,000 after purchasing an additional 3,671,073 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in Lam Research by 235.5% during the 4th quarter. Corient Private Wealth LLC now owns 5,199,441 shares of the semiconductor company's stock worth $890,040,000 after buying an additional 3,649,553 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

Key Headlines Impacting Lam Research

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

• Positive Sentiment: Analysts and market commentary continue to highlight Lam Research as a key winner from the AI infrastructure buildout, with reports suggesting its wafer-fab equipment opportunity may be larger than expected. Lam Research Corporation (LRCX)’s WFE Opportunity May Be Bigger Than Expected
• Positive Sentiment: Oppenheimer raised its price target on LRCX to $400 from $330 and reiterated an Outperform rating, reinforcing the view that AI-related demand can drive further growth. Lam Research Corporation (LRCX)’s WFE Opportunity May Be Bigger Than Expected
• Positive Sentiment: Zacks noted LRCX jumped on above-average volume and said improving earnings estimate revisions could support more near-term upside. Lam Research (LRCX) Moves 4.0% Higher: Will This Strength Last?
• Positive Sentiment: Coverage from GuruFocus highlighted LRCX’s strong profitability and recent 4% share gain, which may be encouraging momentum investors. Lam Research Corp (LRCX) Shares Surge 4.0% -- What GF Score of 85 Tells Investors
• Neutral Sentiment: Several articles framed LRCX as an attractive stock on momentum and profitability grounds, but these were largely descriptive and did not introduce a major new catalyst. Are You Looking for a Top Momentum Pick? Why Lam Research (LRCX) is a Great Choice
• Negative Sentiment: Some comparative coverage argued Texas Instruments may be a better semiconductor buy than Lam Research due to valuation and growth visibility, which could temper enthusiasm at the margin. TXN vs. LRCX: Which Semiconductor Stock Is the Better Buy Right Now?
• Negative Sentiment: Fresh put-option activity in LRCX suggests some traders are hedging or betting on downside after the rally. Stock Traders Buy High Volume of Put Options on Lam Research NASDAQ: LRCX

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LRCX shares. Mizuho set a $380.00 price objective on Lam Research and gave the company an "outperform" rating in a research report on Wednesday, May 27th. New Street Research boosted their target price on Lam Research from $235.00 to $280.00 and gave the stock a "neutral" rating in a research report on Monday, April 27th. Seaport Research Partners assumed coverage on Lam Research in a research note on Monday, May 4th. They set a "buy" rating and a $300.00 price target on the stock. Evercore raised their price target on Lam Research from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Thursday, April 23rd. Finally, Stifel Nicolaus lifted their price objective on Lam Research from $300.00 to $325.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Twenty-eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $333.62.

Insider Activity

In related news, insider Ava Harter sold 6,010 shares of Lam Research stock in a transaction that occurred on 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 transaction, the insider owned 53,205 shares of the company's stock, valued at $13,762,005.30. This trade represents a 10.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Neil J. Fernandes sold 7,659 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $309.60, for a total transaction of $2,371,226.40. Following the transaction, the senior vice president owned 58,470 shares of the company's stock, valued at approximately $18,102,312. This represents a 11.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 86,339 shares of company stock valued at $27,680,267 in the last ninety days. 0.31% of the stock is owned by insiders.

Lam Research Price Performance

NASDAQ:LRCX opened at $389.04 on Monday. Lam Research Corporation has a 12-month low of $87.75 and a 12-month high of $401.00. The company has a quick ratio of 1.77, a current ratio of 2.54 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $486.52 billion, a P/E ratio of 73.40, a P/E/G ratio of 3.21 and a beta of 1.85. The stock's fifty day simple moving average is $301.75 and its 200-day simple moving average is $242.18.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced 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. Lam Research had a return on equity of 66.21% and a net margin of 30.94%.The business had revenue of $5.84 billion during the quarter, compared to analysts' expectations of $5.70 billion. During the same period in the previous year, the firm earned $1.04 earnings per share. The firm's quarterly revenue was up 23.8% compared to the same quarter last year. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. Equities research analysts expect that Lam Research Corporation will post 5.7 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Wednesday, June 17th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Wednesday, June 17th. Lam Research's 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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