Flputnam Investment Management Co. Trims Stock Position in Lam Research Corporation $LRCX

Key Points

• Flputnam Investment Management trimmed its Lam Research stake by 2.4% in the fourth quarter, selling 12,025 shares and ending with 484,829 shares worth about $82.99 million.
• Lam Research reported strong quarterly results, with EPS of $1.47 and revenue of $5.84 billion, both above analyst expectations; revenue rose 23.8% year over year.
• The company also raised its profile with a quarterly dividend of $0.26 per share and several analyst firms lifting price targets, while Wall Street consensus remains Moderate Buy.

Flputnam Investment Management Co. reduced its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 484,829 shares of the semiconductor company's stock after selling 12,025 shares during the quarter. Lam Research makes up about 1.2% of Flputnam Investment Management Co.'s holdings, making the stock its 16th biggest holding. Flputnam Investment Management Co.'s holdings in Lam Research were worth $82,993,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Generali Investments Management Co LLC boosted its holdings in shares of Lam Research by 62.0% during the 4th quarter. Generali Investments Management Co LLC now owns 36,274 shares of the semiconductor company's stock valued at $6,209,000 after buying an additional 13,878 shares in the last quarter. Lingohr Asset Management GmbH boosted its holdings in shares of Lam Research by 590.7% during the 3rd quarter. Lingohr Asset Management GmbH now owns 59,555 shares of the semiconductor company's stock valued at $7,974,000 after buying an additional 50,933 shares in the last quarter. Mediolanum International Funds Ltd boosted its holdings in shares of Lam Research by 52.0% during the 3rd quarter. Mediolanum International Funds Ltd now owns 262,544 shares of the semiconductor company's stock valued at $34,417,000 after buying an additional 89,856 shares in the last quarter. Thoroughbred Financial Services LLC boosted its holdings in shares of Lam Research by 115.2% during the 3rd quarter. Thoroughbred Financial Services LLC now owns 22,198 shares of the semiconductor company's stock valued at $2,972,000 after buying an additional 11,883 shares in the last quarter. Finally, Truist Financial Corp increased its position in Lam Research by 119.6% during the 3rd quarter. Truist Financial Corp now owns 1,676,637 shares of the semiconductor company's stock valued at $224,502,000 after buying an additional 913,009 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Performance

Shares of Lam Research stock opened at $322.68 on Wednesday. The stock has a market cap of $403.53 billion, a price-to-earnings ratio of 60.88, a PEG ratio of 2.53 and a beta of 1.81. The firm's 50-day moving average is $258.19 and its 200 day moving average is $217.89. Lam Research Corporation has a 1 year low of $79.49 and a 1 year high of $323.98. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.54 and a quick ratio of 1.77.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.11. The company had revenue of $5.84 billion for the quarter, compared to analysts' expectations of $5.70 billion. Lam Research had a net margin of 30.94% and a return on equity of 66.21%. Lam Research's revenue was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.04 EPS. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. Sell-side analysts anticipate that Lam Research Corporation will post 5.67 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 17th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, June 17th. This represents a $1.04 annualized dividend and a yield of 0.3%. Lam Research's dividend payout ratio is currently 19.62%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Berenberg Bank raised their price objective on Lam Research from $265.00 to $335.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Sanford C. Bernstein raised their price objective on Lam Research from $325.00 to $340.00 and gave the company an "outperform" rating in a research report on Thursday, May 21st. Weiss Ratings lowered Lam Research from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, May 14th. Summit Insights raised Lam Research from a "hold" rating to a "buy" rating in a research report on Thursday, January 29th. Finally, Susquehanna upped their price target on shares of Lam Research from $350.00 to $385.00 and gave the stock a "positive" rating in a research note on Thursday, April 23rd. Twenty-seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $293.46.

Insider Buying and Selling at Lam Research

In other Lam Research news, insider Ava Harter sold 6,010 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $13,762,005.30. This represents a 10.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Neil J. Fernandes sold 18,170 shares of the company's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $255.14, for a total transaction of $4,635,893.80. Following the transaction, the senior vice president owned 66,129 shares in the company, valued at $16,872,153.06. This represents a 21.55% 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 90 days, insiders have sold 120,066 shares of company stock worth $27,953,242. Company insiders own 0.31% of the company's stock.

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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