Jackson Wealth Management LLC Sells 94,917 Shares of Lam Research Corporation $LRCX

Key Points

• Jackson Wealth Management cut its Lam Research stake by 92.4%, selling 94,917 shares and retaining 7,815 shares worth approximately $3.39 million. Institutional investors collectively own 84.61% of the company.
• Analysts maintain a broadly positive outlook, with Lam Research carrying a “Moderate Buy” consensus rating and an average price target of $357.31.
• Lam Research exceeded quarterly expectations with $1.82 in EPS and $6.72 billion in revenue, while revenue rose 30% year over year. The company also raised its quarterly dividend to $0.33 per share.

Jackson Wealth Management LLC decreased its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 92.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,815 shares of the semiconductor company's stock after selling 94,917 shares during the period. Lam Research makes up about 2.0% of Jackson Wealth Management LLC's investment portfolio, making the stock its 12th largest holding. Jackson Wealth Management LLC's holdings in Lam Research were worth $3,386,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bayban acquired a new position in Lam Research during the 4th quarter worth approximately $26,000. Vermillion Wealth Management Inc. acquired a new position in Lam Research during the first quarter worth $26,000. Cedar Mountain Advisors LLC increased its stake in Lam Research by 242.9% in the 1st quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company's stock valued at $26,000 after buying an additional 85 shares during the last quarter. Paladin Partners LLC acquired a new position in shares of Lam Research during the 2nd quarter worth about $26,000. Finally, Mcguire Capital Advisors Inc. bought a new position in shares of Lam Research in the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. HSBC restated a "hold" rating and issued a $333.00 price target on shares of Lam Research in a research note on Monday, July 27th. Susquehanna reiterated 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. TD Cowen restated a "buy" rating and set a $400.00 price objective (up from $340.00) on shares of Lam Research in a research note on Thursday, July 9th. Needham & Company LLC reiterated a "buy" rating and issued a $390.00 target price on shares of Lam Research in a research note on Thursday, July 30th. Finally, UBS Group restated a "buy" rating and issued a $375.00 price objective (up from $310.00) on shares of Lam Research in a research note on Tuesday, June 9th. One 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. Based on data from MarketBeat, Lam Research currently has an average rating of "Moderate Buy" and a consensus price target of $357.31.

Insider Activity at Lam Research

In other Lam Research news, Director Eric Brandt sold 54,500 shares of the firm's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $350.80, for a total transaction of $19,118,600.00. Following the transaction, the director owned 199,205 shares in the company, valued at $69,881,114. This trade represents a 21.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Abhijit Y. Talwalkar sold 18,282 shares of Lam Research stock in a transaction on Monday, July 13th. The shares were sold at an average price of $335.00, for a total value of $6,124,470.00. Following the completion of the transaction, the director directly owned 87,142 shares of the company's stock, valued at $29,192,570. This represents a 17.34% decrease in their ownership of the stock. 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 own 0.31% of the company's stock.

Lam Research Stock Down 0.1%

LRCX opened at $301.49 on Tuesday. The stock has a fifty day moving average of $328.26 and a 200-day moving average of $290.09. The company has a market capitalization of $377.26 billion, a P/E ratio of 52.34, a P/E/G ratio of 1.20 and a beta of 1.84. Lam Research Corporation has a fifty-two week low of $94.11 and a fifty-two week high of $438.50. 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 issued its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.13. The business had revenue of $6.72 billion during the quarter, compared to analysts' expectations 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 was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.33 EPS. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. On average, equities analysts expect that Lam Research Corporation will post 9.33 EPS for the current year.

Lam Research Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 23rd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.4%. This is an increase from Lam Research's previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, September 23rd. Lam Research's dividend payout ratio is presently 18.06%.

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