Lam Research Corporation $LRCX Shares Bought by Rokos Capital Management LLP

Key Points

• Rokos Capital Management increased its Lam Research position by 42% in the first quarter, acquiring 76,840 additional shares. The holding totaled 259,921 shares valued at $55.5 million, while institutional investors collectively own 84.61% of LRCX.
• Analyst sentiment remains broadly positive, with Lam Research carrying a “Moderate Buy” consensus rating and an average price target of $363.37. Recent targets include $400 from TD Cowen, $450 from Wells Fargo and $500 from Cantor Fitzgerald, although some firms downgraded the stock to “Hold.”
• Lam Research insiders sold 98,611 shares worth approximately $32.25 million over the past three months under pre-arranged trading plans. The company also maintains a quarterly dividend of $0.26 per share, equivalent to a 0.4% annualized yield.

Rokos Capital Management LLP grew its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 42.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 259,921 shares of the semiconductor company's stock after buying an additional 76,840 shares during the quarter. Lam Research accounts for approximately 0.4% of Rokos Capital Management LLP's holdings, making the stock its 26th biggest holding. Rokos Capital Management LLP's holdings in Lam Research were worth $55,532,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in LRCX. Emmett Investment Management LP raised its position in Lam Research by 3.9% during the first quarter. Emmett Investment Management LP now owns 24,460 shares of the semiconductor company's stock worth $5,430,000 after acquiring an additional 910 shares during the last quarter. KCM Investment Advisors LLC grew its position in shares of Lam Research by 7.2% in the first quarter. KCM Investment Advisors LLC now owns 12,723 shares of the semiconductor company's stock valued at $2,718,000 after purchasing an additional 859 shares during the last quarter. Excelsior Advisor Network LLC grew its position in shares of Lam Research by 3.0% in the first quarter. Excelsior Advisor Network LLC now owns 3,916 shares of the semiconductor company's stock valued at $837,000 after purchasing an additional 113 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of Lam Research by 11.1% during the 1st quarter. Quantinno Capital Management LP now owns 1,063,637 shares of the semiconductor company's stock worth $227,257,000 after purchasing an additional 106,077 shares in the last quarter. Finally, Clough Capital Partners L P purchased a new position in shares of Lam Research during the 1st quarter worth approximately $2,032,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Insider Transactions at Lam Research

In other news, Director Eric Brandt sold 54,500 shares of the stock in a transaction dated Thursday, June 11th. The shares were 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 in the company, valued at $69,881,114. This represents a 21.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Abhijit Y. Talwalkar sold 18,282 shares of the firm's stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $335.00, for a total transaction of $6,124,470.00. Following the completion of the sale, the director directly owned 87,142 shares in the company, valued at $29,192,570. This represents a 17.34% 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 have sold a total of 98,611 shares of company stock worth $32,250,190 in the last three months. Company insiders own 0.31% of the company's stock.

Analyst Ratings Changes

LRCX has been the topic of a number of recent research reports. Erste Group Bank lowered Lam Research from a "buy" rating to a "hold" rating in a research note on Thursday, April 2nd. TD Cowen reissued a "buy" rating and set a $400.00 price target (up from $340.00) on shares of Lam Research in a research report on Thursday, July 9th. Wells Fargo & Company reissued an "overweight" rating and issued a $450.00 price target (up from $365.00) on shares of Lam Research in a report on Monday, June 22nd. Wall Street Zen downgraded Lam Research from a "buy" rating to a "hold" rating in a research report on Sunday, May 10th. Finally, Cantor Fitzgerald set a $500.00 price objective on Lam Research and gave the company an "overweight" rating in a research note on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Lam Research currently has an average rating of "Moderate Buy" and an average target price of $363.37.

Lam Research Stock Performance

NASDAQ LRCX opened at $291.61 on Tuesday. The business's 50-day moving average price is $342.02 and its 200 day moving average price is $274.96. Lam Research Corporation has a twelve month low of $90.93 and a twelve month high of $438.50. The company has a market capitalization of $364.68 billion, a PE ratio of 55.02, a price-to-earnings-growth ratio of 1.81 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Wednesday, June 17th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Lam Research's dividend payout ratio is currently 19.62%.

Lam Research Profile

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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