Lam Research Corporation $LRCX is Empire Life Investments Inc.'s 3rd Largest Position

Key Points

• Empire Life Investments reduced its Lam Research stake by 26.5% in the second quarter, selling 71,393 shares but retaining 197,593 shares valued at approximately $85.6 million. LRCX remains the fund’s third-largest holding, representing 4.8% of its portfolio.
• Lam Research reported stronger-than-expected quarterly results, with EPS of $1.82 versus the $1.69 consensus and revenue of $6.72 billion. Revenue increased 30% year over year, and the company issued first-quarter 2027 EPS guidance of $2.00–$2.30.
• Analysts maintain a generally positive outlook, with 27 of 32 covering analysts rating the stock Buy or Strong Buy and a consensus price target of $358.47. However, company directors sold shares under pre-arranged trading plans, contributing to $27.6 million in insider sales over the past 90 days.

Empire Life Investments Inc. reduced its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 26.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 197,593 shares of the semiconductor company's stock after selling 71,393 shares during the period. Lam Research comprises approximately 4.8% of Empire Life Investments Inc.'s portfolio, making the stock its 3rd biggest holding. Empire Life Investments Inc.'s holdings in Lam Research were worth $85,623,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Bravera Wealth purchased a new stake in shares of Lam Research in the 2nd quarter valued at $46,000. Cedar Mountain Advisors LLC raised its position in Lam Research by 242.9% in 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. Vermillion Wealth Management Inc. purchased a new position in Lam Research in the 1st quarter worth $26,000. Hughes Financial Services LLC lifted its stake in Lam Research by 54.9% in the second quarter. Hughes Financial Services LLC now owns 141 shares of the semiconductor company's stock worth $61,000 after purchasing an additional 50 shares during the last quarter. Finally, Bayban bought a new stake in Lam Research in the fourth quarter worth $26,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Performance

Shares of NASDAQ:LRCX opened at $314.00 on Friday. The company has a market cap of $392.91 billion, a price-to-earnings ratio of 54.51, a price-to-earnings-growth ratio of 1.25 and a beta of 1.84. The company has a 50-day moving average price of $337.47 and a 200-day moving average price of $286.09. The company has a current ratio of 2.63, a quick ratio of 1.91 and a debt-to-equity ratio of 0.30. Lam Research Corporation has a 12 month low of $94.11 and a 12 month high of $438.50.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, July 29th. The semiconductor company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.13. Lam Research had a return on equity of 67.60% and a net margin of 31.27%.The company had revenue of $6.72 billion for the quarter, compared to analysts' expectations of $6.66 billion. During the same period last year, the firm earned $1.33 earnings per share. 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. As a group, equities analysts anticipate that Lam Research Corporation will post 9.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LRCX. Wells Fargo & Company restated an "overweight" rating and set a $350.00 price target (down from $450.00) on shares of Lam Research in a research report on Thursday, July 30th. HSBC reiterated a "hold" rating and issued a $333.00 price objective on shares of Lam Research in a report on Monday, July 27th. Sanford C. Bernstein increased their target price on Lam Research from $325.00 to $340.00 and gave the company an "outperform" rating in a report on Thursday, May 21st. Rothschild & Co Redburn increased their target price on Lam Research from $305.00 to $420.00 and gave the company a "buy" rating in a report on Wednesday, June 17th. Finally, Bank of America raised their price target on Lam Research from $330.00 to $480.00 and gave the stock a "buy" rating in a research report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Lam Research currently has an average rating of "Moderate Buy" and a consensus target price of $358.47.

Insiders Place Their Bets

In other news, Director Eric Brandt sold 54,500 shares of the business's stock in a transaction that occurred 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 directly owned 199,205 shares of the company's stock, valued at approximately $69,881,114. The trade was a 21.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $6,124,470.00. Following the transaction, the director owned 87,142 shares of the company's stock, valued at approximately $29,192,570. This represents 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. In the last 90 days, insiders sold 80,441 shares of company stock worth $27,614,296. 0.31% of the stock is currently owned by company insiders.

About Lam Research

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.

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