Foster & Motley Inc. Invests $10.60 Million in Lam Research Corporation $LRCX

Key Points

• Foster & Motley acquired a new $10.6 million stake in Lam Research during the second quarter, purchasing 24,454 shares. Institutional investors and hedge funds collectively own 84.61% of the company.
• Analysts remain broadly bullish, with a consensus rating of “Moderate Buy” and an average price target of $358.47. Several firms recently raised their targets, although Morgan Stanley lowered its target to $367.
• Lam Research exceeded quarterly expectations, reporting $1.82 in EPS and $6.72 billion in revenue, up 30% year over year. Meanwhile, insiders sold 80,441 shares worth $27.6 million over the past 90 days, and the stock opened at $310.17 after a 1.2% decline.

Foster & Motley Inc. bought a new stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 24,454 shares of the semiconductor company's stock, valued at approximately $10,596,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Bayban acquired a new stake in Lam Research in the fourth quarter valued at about $26,000. Vermillion Wealth Management Inc. acquired a new position in Lam Research during the 1st quarter worth approximately $26,000. Cedar Mountain Advisors LLC increased its position 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 purchasing an additional 85 shares during the period. Paladin Partners LLC purchased a new position in shares of Lam Research during the 2nd quarter worth approximately $26,000. Finally, Mcguire Capital Advisors Inc. purchased a new position in shares of Lam Research during the 4th quarter worth approximately $27,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Susquehanna restated a "positive" rating and issued a $475.00 price target (up from $385.00) on shares of Lam Research in a research note on Tuesday, June 30th. Rothschild & Co Redburn increased their price objective on Lam Research from $305.00 to $420.00 and gave the stock a "buy" rating in a research report on Wednesday, June 17th. TD Cowen reissued a "buy" rating and issued a $400.00 target price (up from $340.00) on shares of Lam Research in a report on Thursday, July 9th. Morgan Stanley decreased their target price on shares of Lam Research from $404.00 to $367.00 and set an "overweight" rating on the stock in a research report on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $320.00 price target on shares of Lam Research in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Lam Research has a consensus rating of "Moderate Buy" and a consensus target price of $358.47.

Insider Buying and Selling

In other Lam Research news, Director Eric Brandt sold 54,500 shares of the company'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 transaction, the director directly owned 199,205 shares in the company, valued at approximately $69,881,114. This represents a 21.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Abhijit Y. Talwalkar sold 18,282 shares of the company's stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $335.00, for a total transaction of $6,124,470.00. Following the transaction, the director directly owned 87,142 shares in the company, valued at $29,192,570. The trade was a 17.34% 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 80,441 shares of company stock worth $27,614,296 in the last ninety days. Insiders own 0.31% of the company's stock.

Lam Research Stock Down 1.2%

Lam Research stock opened at $310.17 on Tuesday. Lam Research Corporation has a fifty-two week low of $94.11 and a fifty-two week high of $438.50. The firm has a market capitalization of $388.12 billion, a price-to-earnings ratio of 53.85, a price-to-earnings-growth ratio of 1.25 and a beta of 1.84. The stock's fifty day moving average is $335.90 and its two-hundred day moving average is $286.99. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.91 and a current ratio of 2.63.

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, topping the consensus estimate of $1.69 by $0.13. The business had revenue of $6.72 billion for 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%. The business's revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.33 EPS. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. Analysts predict that Lam Research Corporation will post 9.32 EPS for the current fiscal year.

Lam Research Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source