Gateway Investment Advisers LLC lifted its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 76.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 232,236 shares of the semiconductor company's stock after purchasing an additional 100,745 shares during the quarter. Lam Research makes up 1.0% of Gateway Investment Advisers LLC's investment portfolio, making the stock its 16th biggest holding. Gateway Investment Advisers LLC's holdings in Lam Research were worth $100,635,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Interchange Capital Partners LLC increased its position in Lam Research by 32.3% during the second quarter. Interchange Capital Partners LLC now owns 7,295 shares of the semiconductor company's stock worth $3,161,000 after buying an additional 1,780 shares during the period. Market Street Wealth Management Advisors LLC acquired a new stake in shares of Lam Research in the second quarter valued at approximately $406,000. SlateStone Wealth LLC acquired a new stake in shares of Lam Research in the second quarter valued at approximately $379,000. GFG Capital LLC purchased a new position in shares of Lam Research during the second quarter worth approximately $213,000. Finally, White Pine Investment CO purchased a new position in shares of Lam Research during the second quarter worth approximately $208,000. Hedge funds and other institutional investors own 84.61% of the company's stock.
Insider Transactions at Lam Research
In related news, Director Eric Brandt sold 54,500 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $350.80, for a total transaction of $19,118,600.00. Following the completion of the transaction, the director directly owned 199,205 shares of the company's stock, valued at $69,881,114. This represents a 21.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 firm's stock in a transaction dated 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 completion of the sale, the director owned 87,142 shares of the company's stock, valued at approximately $29,192,570. The trade was a 17.34% 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. Insiders have sold a total of 80,441 shares of company stock worth $27,614,296 over the last ninety days. 0.31% of the stock is currently owned by company insiders.
Lam Research Stock Performance
NASDAQ:LRCX opened at $327.92 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.63 and a quick ratio of 1.91. The firm has a market cap of $410.33 billion, a price-to-earnings ratio of 56.93, a price-to-earnings-growth ratio of 1.32 and a beta of 1.84. The firm's fifty day moving average price is $339.86 and its 200 day moving average price is $284.93. Lam Research Corporation has a 1-year low of $94.11 and a 1-year high of $438.50.
Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $1.82 EPS for the quarter, topping analysts' consensus estimates of $1.69 by $0.13. Lam Research had a net margin of 31.27% and a return on equity of 67.60%. The company had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.66 billion. During the same quarter in the prior year, the firm earned $1.33 EPS. Lam Research's quarterly revenue was up 30.0% on a year-over-year basis. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. On average, sell-side analysts expect that Lam Research Corporation will post 9.32 EPS for the current year.
Analyst Ratings Changes
Several analysts recently commented on LRCX shares. Citigroup reiterated a "buy" rating and issued a $450.00 price target (up from $315.00) on shares of Lam Research in a research report on Wednesday, June 17th. Berenberg Bank raised their price objective on shares of Lam Research from $265.00 to $335.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. HSBC restated a "hold" rating and issued a $333.00 price objective on shares of Lam Research in a research note on Monday, July 27th. Rothschild & Co Redburn upped their target price on shares of Lam Research from $305.00 to $420.00 and gave the company a "buy" rating in a report on Wednesday, June 17th. Finally, TD Cowen reissued a "buy" rating and set a $400.00 price target (up from $340.00) on shares of Lam Research in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Lam Research presently has a consensus rating of "Moderate Buy" and a consensus price target of $358.47.
Check Out Our Latest Research Report on Lam Research
Lam Research Profile
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Free Report)
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.
Further Reading
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