Lam Research Corporation $LRCX Shares Sold by AIA Group Ltd

Key Points

• AIA Group cut its Lam Research stake by 19.5% in the third quarter, selling 28,093 shares and retaining 116,034 shares valued at about $38.1 million.
• Analyst sentiment remains positive: 26 analysts rate LRCX a Buy and six a Hold, giving it a “Moderate Buy” consensus and an average price target of $360.23.
• Lam Research’s latest quarterly results topped expectations, with EPS of $2.20 and revenue of $8.22 billion; the company also raised its quarterly dividend from $0.26 to $0.33 per share.

AIA Group Ltd lowered its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 19.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,034 shares of the semiconductor company's stock after selling 28,093 shares during the quarter. AIA Group Ltd's holdings in Lam Research were worth $38,118,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of LRCX. State Street Corp lifted its holdings in shares of Lam Research by 2.6% in the second quarter. State Street Corp now owns 60,704,130 shares of the semiconductor company's stock valued at $26,320,468,000 after purchasing an additional 1,545,830 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Lam Research by 5.5% during the 2nd quarter. Bank of America Corp DE now owns 11,244,147 shares of the semiconductor company's stock valued at $4,872,426,000 after acquiring an additional 584,489 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Lam Research by 411.8% during the 2nd quarter. Van ECK Associates Corp now owns 11,089,395 shares of the semiconductor company's stock valued at $4,805,368,000 after acquiring an additional 8,922,854 shares in the last quarter. Amundi increased its stake in shares of Lam Research by 23.7% in the first quarter. Amundi now owns 10,147,479 shares of the semiconductor company's stock worth $2,168,107,000 after acquiring an additional 1,942,862 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Lam Research by 2.0% in the first quarter. Janus Henderson Group PLC now owns 9,265,026 shares of the semiconductor company's stock worth $1,975,244,000 after acquiring an additional 181,087 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LRCX. Morgan Stanley set a $339.00 price objective on Lam Research and gave the company an "overweight" rating in a research report on Thursday, October 22nd. Fundamental Research set a $390.00 target price on Lam Research in a research report on Thursday, October 1st. Evercore set a $315.00 price target on Lam Research in a research note on Tuesday, October 20th. Needham & Company LLC reduced their price target on Lam Research from $390.00 to $290.00 and set a "buy" rating for the company in a report on Thursday, October 22nd. Finally, Jefferies Financial Group set a $335.00 price target on Lam Research and gave the company a "buy" rating in a research note on Thursday, July 30th. Twenty-six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Lam Research presently has a consensus rating of "Moderate Buy" and a consensus target price of $360.23.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $230.72 on Wednesday. The business has a 50-day moving average of $291.15 and a two-hundred day moving average of $283.95. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.48 and a quick ratio of 1.86. Lam Research Corporation has a fifty-two week low of $135.50 and a fifty-two week high of $438.50. The stock has a market capitalization of $288.21 billion, a P/E ratio of 33.66, a P/E/G ratio of 0.84 and a beta of 1.97.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.02. Lam Research had a net margin of 32.34% and a return on equity of 72.15%. The business had revenue of $8.22 billion during the quarter, compared to the consensus estimate of $8.14 billion. During the same period in the prior year, the firm earned $1.26 EPS. Lam Research's quarterly revenue was up 54.4% compared to the same quarter last year. On average, equities research analysts predict that Lam Research Corporation will post 9.59 EPS for the current fiscal year.

Lam Research Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Wednesday, September 23rd were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 0.6%. This is an increase from Lam Research's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, September 23rd. Lam Research's payout ratio is presently 19.67%.

Insider Buying and Selling at Lam Research

In related news, Director Bethany Mayer sold 9,557 shares of the company's stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the completion of the transaction, the director directly owned 20,995 shares in the company, valued at $6,607,966.30. This represents a 31.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ava Harter sold 5,000 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $302.46, for a total transaction of $1,512,300.00. Following the completion of the sale, the insider directly owned 42,462 shares of the company's stock, valued at approximately $12,843,056.52. This trade represents a 10.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.31% of the stock is owned by corporate insiders.

Trending Headlines about Lam Research

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

• Positive Sentiment: Reports pointed to strong AI-chip demand and December-quarter guidance that helped support a Tuesday rebound; Jim Cramer’s endorsement also added to the positive sentiment. What Is Going on With Lam Research Stock on Tuesday? The wider semiconductor sector’s recovery provided another tailwind. Lam Research Stock Rises Amid Semiconductor Sector Rebound
• Positive Sentiment: Bernstein reportedly sees 53% potential upside after LRCX fell 34% over the past month, suggesting some analysts view the selloff as an opportunity. Bernstein Sees Upside in Lam Research
• Neutral Sentiment: Lam reported a record September quarter, with revenue of $8.22 billion and net income of $2.75 billion. Its December-quarter revenue outlook of about $8.6 billion and EPS guidance near $2.33 were broadly in line with expectations, limiting the positive surprise. Should Cautious Guidance Require Action From Lam Research Investors?
• Negative Sentiment: Component shortages could constrain execution, while management expects China-related revenue to decline in the near term. These risks, alongside concerns about AI spending across chip-equipment makers, contributed to the post-earnings selloff and may keep volatility elevated. Is Lam Research Stock's Fall a Bargain or a Warning?

Lam Research Profile

Lam Research Corporation NASDAQ: LRCX is a semiconductor equipment company that develops and manufactures systems used to fabricate integrated circuits. Its technologies support key stages of wafer processing, helping semiconductor manufacturers create the increasingly complex structures found in memory, logic and other types of chips.

The company's product portfolio includes etch systems, which selectively remove materials from wafers; deposition systems, which apply thin films; and cleaning solutions used to remove contaminants and residue during manufacturing.

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