Fred Alger Management LLC Increases Stock Holdings in Lam Research Corporation $LRCX

Key Points

• Fred Alger Management LLC increased its stake in Lam Research Corporation by 10.2% during the first quarter, holding 83,071 shares worth approximately $6.06 million at the end of the quarter.
• The company reported a 33.6% year-over-year increase in revenue during its latest quarter, with earnings per share of $1.33, exceeding analysts' estimates.
• Lam Research recently announced a quarterly dividend increase to $0.26 per share, signaling positive financial performance and a commitment to returning value to shareholders.

Fred Alger Management LLC increased its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 10.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 83,071 shares of the semiconductor company's stock after buying an additional 7,721 shares during the period. Fred Alger Management LLC's holdings in Lam Research were worth $6,059,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of LRCX. Meridian Wealth Management LLC boosted its position in shares of Lam Research by 1.4% during the first quarter. Meridian Wealth Management LLC now owns 9,732 shares of the semiconductor company's stock worth $707,000 after acquiring an additional 130 shares during the last quarter. GW&K Investment Management LLC boosted its position in shares of Lam Research by 10.1% during the first quarter. GW&K Investment Management LLC now owns 1,534 shares of the semiconductor company's stock worth $112,000 after acquiring an additional 141 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in shares of Lam Research by 1.2% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 12,498 shares of the semiconductor company's stock worth $909,000 after acquiring an additional 146 shares during the last quarter. Citizens National Bank Trust Department boosted its position in shares of Lam Research by 34.0% during the first quarter. Citizens National Bank Trust Department now owns 603 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 153 shares during the last quarter. Finally, Progressive Investment Management Corp lifted its position in Lam Research by 0.4% during the first quarter. Progressive Investment Management Corp now owns 42,581 shares of the semiconductor company's stock valued at $3,096,000 after purchasing an additional 156 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Raymond James Financial increased their target price on shares of Lam Research from $90.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Stifel Nicolaus raised their price target on shares of Lam Research from $92.00 to $110.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Barclays set a $83.00 price target on shares of Lam Research and gave the stock an "equal weight" rating in a research note on Monday, July 28th. Needham & Company LLC raised their price target on shares of Lam Research from $110.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, Oppenheimer raised their price target on shares of Lam Research from $110.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Twenty investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $107.96.

Lam Research Stock Performance

NASDAQ LRCX traded up $1.38 on Friday, hitting $116.96. 11,054,667 shares of the company's stock traded hands, compared to its average volume of 11,901,450. The company has a current ratio of 2.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.38. The firm's 50-day moving average price is $100.71 and its two-hundred day moving average price is $86.43. Lam Research Corporation has a 1-year low of $56.32 and a 1-year high of $117.50. The firm has a market capitalization of $148.03 billion, a PE ratio of 28.12, a P/E/G ratio of 1.38 and a beta of 1.76.

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, beating the consensus estimate of $1.21 by $0.12. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The firm had revenue of $5.17 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same period in the previous year, the business posted $1.03 EPS. The business's revenue was up 33.6% compared to the same quarter last year. Lam Research has set its Q1 2026 guidance at 1.100-1.300 EPS. As a group, analysts expect that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 24th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, September 24th. This is a positive change 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 0.9%. Lam Research's payout ratio is currently 25.00%.

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.