Kayne Anderson Rudnick Investment Management LLC Purchases 12,612 Shares of Lam Research Corporation $LRCX

Key Points

• Kayne Anderson Rudnick Investment Management LLC significantly increased its stake in Lam Research Corporation by 314.3%, now holding 16,625 shares valued at approximately $1.21 million.
• Analysts are generally optimistic about Lam Research, with 20 analysts rating the stock as a "Buy" and price targets ranging from $115 to $125.
• Lam Research reported earnings of $1.33 per share, outperforming estimates and marking a 33.6% increase in revenue from the previous year.

Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 314.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,625 shares of the semiconductor company's stock after buying an additional 12,612 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Lam Research were worth $1,209,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of LRCX. Meridian Wealth Management LLC boosted its position in Lam Research by 1.4% during the 1st quarter. Meridian Wealth Management LLC now owns 9,732 shares of the semiconductor company's stock valued at $707,000 after acquiring an additional 130 shares in 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 valued at $112,000 after purchasing an additional 141 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Lam Research by 1.2% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 12,498 shares of the semiconductor company's stock valued at $909,000 after buying an additional 146 shares in the last quarter. Citizens National Bank Trust Department boosted its holdings in shares of Lam Research by 34.0% during the 1st quarter. Citizens National Bank Trust Department now owns 603 shares of the semiconductor company's stock valued at $44,000 after buying an additional 153 shares in the last quarter. Finally, Progressive Investment Management Corp boosted its stake 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 worth $3,096,000 after acquiring an additional 156 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

Lam Research Stock Performance

Shares of NASDAQ LRCX traded down $3.94 during trading on Friday, hitting $100.15. The company had a trading volume of 12,177,963 shares, compared to its average volume of 11,487,494. Lam Research Corporation has a 12 month low of $56.32 and a 12 month high of $108.02. The firm has a market capitalization of $126.75 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 1.34 and a beta of 1.65. The stock has a 50 day simple moving average of $99.45 and a 200 day simple moving average of $85.27. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.55 and a current ratio of 2.21.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 EPS for the quarter, beating analysts' consensus estimates of $1.21 by $0.12. The business had revenue of $5.17 billion for the quarter, compared to analysts' expectations of $4.99 billion. Lam Research had a return on equity of 58.17% and a net margin of 29.07%.The business's quarterly revenue was up 33.6% on a year-over-year basis. During the same period last year, the firm earned $1.03 earnings per share. Lam Research has set its Q1 2026 guidance at 1.100-1.300 EPS. As a group, analysts anticipate that Lam Research Corporation will post 3.71 earnings per share 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 $0.26 dividend. This is a boost from Lam Research's previous quarterly dividend of $0.23. The ex-dividend date is Wednesday, September 24th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. Lam Research's payout ratio is presently 22.12%.

Analyst Ratings Changes

LRCX has been the topic of several analyst reports. Citigroup boosted their target price on Lam Research from $108.00 to $113.00 and gave the stock a "buy" rating in a report on Friday, August 1st. 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 upped their target price 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. Erste Group Bank started coverage on shares of Lam Research in a research note on Thursday, August 14th. They issued a "buy" rating on the stock. Finally, Morgan Stanley upped their price objective on Lam Research from $87.00 to $94.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Twenty investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Lam Research currently has an average rating of "Moderate Buy" and a consensus target price of $107.30.

About Lam Research

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.