Lam Research Corporation $LRCX Position Cut by State of Wyoming

Key Points

• State of Wyoming cut its Lam Research stake by 50.2% in the first quarter, selling 4,470 shares and leaving it with 4,426 shares valued at about $946,000.
• Lam Research posted strong quarterly results, reporting $1.47 EPS on $5.84 billion in revenue, both above analyst expectations, with revenue up 23.8% year over year.
• Wall Street remains bullish on LRCX, with multiple firms raising price targets and the stock carrying a consensus “Moderate Buy” rating and average target of $360.51.

State of Wyoming reduced its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 50.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,426 shares of the semiconductor company's stock after selling 4,470 shares during the quarter. State of Wyoming's holdings in Lam Research were worth $946,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. GSG Advisors LLC raised its stake in shares of Lam Research by 3.1% during the first quarter. GSG Advisors LLC now owns 1,387 shares of the semiconductor company's stock valued at $296,000 after purchasing an additional 42 shares in the last quarter. Valued Wealth Advisors LLC grew its position in Lam Research by 7.9% in the 1st quarter. Valued Wealth Advisors LLC now owns 589 shares of the semiconductor company's stock valued at $126,000 after buying an additional 43 shares in the last quarter. Greenup Street Wealth Management LLC grew its position in Lam Research by 1.8% in the 1st quarter. Greenup Street Wealth Management LLC now owns 2,433 shares of the semiconductor company's stock valued at $520,000 after buying an additional 44 shares in the last quarter. Triumph Capital Management increased its stake in Lam Research by 22.5% during the 4th quarter. Triumph Capital Management now owns 245 shares of the semiconductor company's stock valued at $42,000 after buying an additional 45 shares during the period. Finally, Traphagen Investment Advisors LLC increased its stake in Lam Research by 2.4% during the 4th quarter. Traphagen Investment Advisors LLC now owns 1,963 shares of the semiconductor company's stock valued at $336,000 after buying an additional 46 shares during the period. Institutional investors own 84.61% of the company's stock.

Trending Headlines about Lam Research

Here are the key news stories impacting Lam Research this week:

• Positive Sentiment: Several recent pieces argue Lam Research has strong growth and earnings-beat potential, with Zacks/Yahoo highlighting expectations for earnings to rise next week and pointing to favorable fundamentals that could support an upside surprise. Article Title
• Positive Sentiment: Wall Street sentiment remains broadly bullish, with another note saying the average brokerage recommendation favors buying Lam Research, which can help reinforce investor confidence in the name. Article Title
• Positive Sentiment: Semiconductor-sector coverage has been constructive, with articles noting renewed buying in chip stocks on AI infrastructure optimism and listing Lam Research among the names benefiting from the rebound. Article Title
• Positive Sentiment: Additional commentary frames LRCX as a solid growth stock and suggests the company’s fundamentals could support exceptional returns, adding to the bullish narrative. Article Title
• Neutral Sentiment: One article compared Lam Research with Applied Materials, but it appears to be industry analysis rather than a direct company-specific catalyst for LRCX. Article Title
• Negative Sentiment: Broader market coverage says investors have been locking in profits in technology stocks ahead of key earnings from Alphabet and Tesla, which can create short-term pressure on semiconductor shares like Lam Research. Article Title

Lam Research Stock Performance

NASDAQ:LRCX opened at $319.29 on Thursday. The company has a 50-day moving average of $340.92 and a 200-day moving average of $272.64. The firm has a market cap of $399.29 billion, a price-to-earnings ratio of 60.24, a price-to-earnings-growth ratio of 1.91 and a beta of 1.80. The company has a current ratio of 2.54, a quick ratio of 1.77 and a debt-to-equity ratio of 0.35. Lam Research Corporation has a twelve month low of $90.93 and a twelve month high of $438.50.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.36 by $0.11. The business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.70 billion. Lam Research had a net margin of 30.94% and a return on equity of 66.21%. The business's quarterly revenue was up 23.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.04 earnings per share. Analysts forecast that Lam Research Corporation will post 5.68 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 17th were issued a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.3%. Lam Research's dividend payout ratio is currently 19.62%.

Analysts Set New Price Targets

LRCX has been the subject of a number of research analyst reports. Cantor Fitzgerald set a $500.00 price target on shares of Lam Research and gave the stock an "overweight" rating in a research note on Monday, June 29th. Jefferies Financial Group raised their price objective on shares of Lam Research from $285.00 to $315.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. JPMorgan Chase & Co. boosted their target price on Lam Research from $300.00 to $315.00 and gave the stock an "overweight" rating in a report on Thursday, April 23rd. Seaport Research Partners assumed coverage on Lam Research in a research report on Monday, May 4th. They issued a "buy" rating and a $300.00 target price for the company. Finally, Royal Bank Of Canada upped their target price on Lam Research from $290.00 to $310.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Lam Research currently has an average rating of "Moderate Buy" and an average price target of $360.51.

Insider Buying and Selling

In other news, Director Eric Brandt sold 54,500 shares of the 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 completion of the sale, the director owned 199,205 shares in the company, valued at approximately $69,881,114. This represents a 21.48% decrease in their position. The sale was disclosed in a legal 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, SVP Neil J. Fernandes sold 18,170 shares of the firm's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $255.14, for a total value of $4,635,893.80. Following the sale, the senior vice president directly owned 66,129 shares of the company's stock, valued at approximately $16,872,153.06. This represents a 21.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 104,621 shares of company stock worth $33,804,737 over the last three months. Corporate insiders own 0.31% of the company's stock.

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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