Adage Capital Partners GP L.L.C. Buys 30,900 Shares of Lam Research Corporation $LRCX

Key Points

• Adage Capital Partners GP L.L.C. increased its holdings in Lam Research Corporation by 2.2%, now owning approximately 1.41 million shares valued at $102.65 million.
• Lam Research reported a 33.6% increase in revenue year-over-year, achieving $5.17 billion in the latest quarter, well above analysts' expectations.
• The company announced a quarterly dividend hike to $0.26 per share, representing an annualized dividend of $1.04 and a yield of 1.0%.

Adage Capital Partners GP L.L.C. raised its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,412,020 shares of the semiconductor company's stock after acquiring an additional 30,900 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.11% of Lam Research worth $102,654,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LRCX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Lam Research by 6,383.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,574,691 shares of the semiconductor company's stock valued at $980,500,000 after acquiring an additional 13,365,317 shares during the last quarter. Janus Henderson Group PLC purchased a new position in Lam Research in the fourth quarter valued at about $792,161,000. Vanguard Group Inc. boosted its stake in Lam Research by 6.9% in the first quarter. Vanguard Group Inc. now owns 129,152,102 shares of the semiconductor company's stock valued at $9,389,358,000 after acquiring an additional 8,364,375 shares during the last quarter. Nuveen LLC purchased a new position in Lam Research in the first quarter valued at about $604,344,000. Finally, Deutsche Bank AG boosted its stake in Lam Research by 1,446.9% in the fourth quarter. Deutsche Bank AG now owns 6,121,504 shares of the semiconductor company's stock valued at $442,156,000 after acquiring an additional 5,725,777 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on LRCX shares. Stifel Nicolaus boosted their target price on shares of Lam Research from $92.00 to $110.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Citigroup upped their price target on shares of Lam Research from $108.00 to $113.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Summit Insights cut shares of Lam Research from a "buy" rating to a "hold" rating in a research note on Thursday, July 31st. TD Cowen upped their price target on shares of Lam Research from $100.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, Argus upped their price target on shares of Lam Research from $105.00 to $120.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Twenty equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Lam Research has a consensus rating of "Moderate Buy" and an average price target of $107.22.

Lam Research Price Performance

Lam Research stock traded up $2.53 during midday trading on Friday, reaching $102.95. 8,138,513 shares of the stock were exchanged, compared to its average volume of 10,784,377. The company's fifty day moving average is $99.87 and its 200-day moving average is $85.83. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.55 and a current ratio of 2.21. The firm has a market cap of $130.30 billion, a PE ratio of 24.75, a PEG ratio of 1.29 and a beta of 1.76. Lam Research Corporation has a 52 week low of $56.32 and a 52 week high of $108.02.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.21 by $0.12. The business had revenue of $5.17 billion for the quarter, compared to analyst estimates of $4.99 billion. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. Lam Research's revenue was up 33.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 EPS. Lam Research has set its Q1 2026 guidance at 1.100-1.300 EPS. On average, sell-side analysts forecast that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Increases Dividend

The business also recently declared 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 represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 24th. This is a positive change from Lam Research's previous quarterly dividend of $0.23. Lam Research's payout ratio is currently 22.12%.

Lam Research Profile

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.