Lam Research Corporation $LRCX Shares Acquired by Manning & Napier Advisors LLC

Key Points

• Manning & Napier Advisors dramatically increased its Lam Research stake in the fourth quarter, ending with 575,972 shares worth about $100.1 million.
• Lam Research continues to attract bullish analyst attention, with firms such as B. Riley and Mizuho raising price targets while the consensus rating remains Moderate Buy.
• The company reported better-than-expected quarterly results, including EPS of $1.47 and revenue of $5.84 billion, and also received support from commentary pointing to strong AI-fab demand and orders.

Manning & Napier Advisors LLC increased its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 119,894.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 575,972 shares of the semiconductor company's stock after acquiring an additional 575,492 shares during the period. Lam Research comprises 1.3% of Manning & Napier Advisors LLC's holdings, making the stock its 28th largest position. Manning & Napier Advisors LLC's holdings in Lam Research were worth $100,092,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership boosted its position in Lam Research by 781.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 11,340,865 shares of the semiconductor company's stock worth $1,518,542,000 after purchasing an additional 10,053,978 shares in the last quarter. Invesco Ltd. grew its stake in shares of Lam Research by 18.2% during the 3rd quarter. Invesco Ltd. now owns 21,182,948 shares of the semiconductor company's stock worth $2,836,397,000 after purchasing an additional 3,263,658 shares during the period. California Public Employees Retirement System increased its holdings in shares of Lam Research by 108.7% during the 3rd quarter. California Public Employees Retirement System now owns 4,526,099 shares of the semiconductor company's stock valued at $606,045,000 after purchasing an additional 2,356,897 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Lam Research by 138.6% during the 3rd quarter. AQR Capital Management LLC now owns 3,541,230 shares of the semiconductor company's stock valued at $472,294,000 after purchasing an additional 2,056,749 shares in the last quarter. Finally, M&T Bank Corp lifted its stake in shares of Lam Research by 1,925.5% in the 4th quarter. M&T Bank Corp now owns 1,717,551 shares of the semiconductor company's stock valued at $294,010,000 after purchasing an additional 1,632,754 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research News Roundup

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

• Positive Sentiment: B. Riley raised its price target on Lam Research to $350 from $330 and kept a Buy rating, citing strong earnings and solid execution. Why Analysts Are Growing More Confident In Lam Research (LRCX)
• Positive Sentiment: Erste Group Bank lifted FY2027 EPS estimates for Lam Research to $7.88 from $7.74, suggesting analysts see better long-term earnings power. Lam Research stock page
• Positive Sentiment: Recent coverage highlights Lam Research as an AI-fab beneficiary with orders beating expectations, supporting the case for further upside after a sharp rally. Lam Research (LRCX) Is Up 19.5% After AI-Fab Orders Beat Expectations Has The Bull Case Changed?
• Neutral Sentiment: Some commentary notes the stock has already surged dramatically over the past year, which may raise overbought concerns even as Wall Street remains constructive. Lam Research Has Surged 300% in a Year. Wall Street Sees More Gains Still Ahead
• Neutral Sentiment: Investor articles argue the rally may still have room to run, but that view is speculative rather than a direct fundamental update. Why Lam Research Still Looks Like a Buy After a 300% Rally

Insider Buying and Selling

In other Lam Research news, SVP Neil J. Fernandes sold 18,170 shares of the business's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $255.14, for a total transaction of $4,635,893.80. Following the completion of the sale, the senior vice president directly owned 66,129 shares in the company, valued at approximately $16,872,153.06. The trade was a 21.55% decrease in their position. 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, CFO Douglas R. Bettinger sold 50,057 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $224.03, for a total value of $11,214,269.71. Following the transaction, the chief financial officer directly owned 1,081,705 shares of the company's stock, valued at $242,334,371.15. The trade was a 4.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 120,066 shares of company stock worth $27,953,242 in the last 90 days. Insiders own 0.31% of the company's stock.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $294.05 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.77 and a current ratio of 2.54. The firm has a fifty day moving average of $238.93 and a 200 day moving average of $204.97. The firm has a market cap of $367.73 billion, a PE ratio of 55.48, a PEG ratio of 2.37 and a beta of 1.81. Lam Research Corporation has a one year low of $74.65 and a one year high of $297.99.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.11. Lam Research had a net margin of 30.94% and a return on equity of 66.21%. The business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same period last year, the firm posted $1.04 earnings per share. The company's revenue was up 23.8% compared to the same quarter last year. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. As a group, research analysts predict that Lam Research Corporation will post 5.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LRCX. Morgan Stanley increased their price target on shares of Lam Research from $260.00 to $293.00 and gave the stock an "equal weight" rating in a report on Thursday, April 23rd. Mizuho lifted their price objective on shares of Lam Research from $295.00 to $330.00 and gave the company an "outperform" rating in a report on Thursday, April 23rd. UBS Group set a $300.00 price objective on shares of Lam Research in a research report on Thursday, January 29th. Evercore increased their target price on shares of Lam Research from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd. Finally, Zacks Research cut Lam Research from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 6th. Twenty-six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, Lam Research has a consensus rating of "Moderate Buy" and a consensus target price of $285.94.

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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