Lam Research Corporation $LRCX Shares Sold by Boston Trust Walden Corp

Key Points

• Boston Trust Walden cut its Lam Research stake by 24% in the third quarter, selling 15,973 shares and retaining 50,451 shares valued at about $16.6 million.
• Other major investors increased holdings, and institutional investors collectively owned 84.61% of Lam Research shares.
• Lam beat quarterly earnings and revenue estimates and authorized a $25 billion buyback plus a $0.33 quarterly dividend. However, the article cited concerns over semiconductor-equipment spending, component shortages, and declining China-related revenue.

Boston Trust Walden Corp cut its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 24.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,451 shares of the semiconductor company's stock after selling 15,973 shares during the period. Boston Trust Walden Corp's holdings in Lam Research were worth $16,574,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of LRCX. Van ECK Associates Corp lifted its holdings in shares of Lam Research by 411.8% in the 2nd quarter. Van ECK Associates Corp now owns 11,089,395 shares of the semiconductor company's stock worth $4,805,368,000 after acquiring an additional 8,922,854 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Lam Research during the second quarter valued at about $3,777,585,000. Jennison Associates LLC boosted its position in Lam Research by 296.9% during the first quarter. Jennison Associates LLC now owns 3,373,306 shares of the semiconductor company's stock valued at $720,740,000 after buying an additional 2,523,351 shares during the period. California Public Employees Retirement System grew its stake in shares of Lam Research by 50.6% during the first quarter. California Public Employees Retirement System now owns 5,870,899 shares of the semiconductor company's stock valued at $1,254,376,000 after buying an additional 1,972,277 shares during the last quarter. Finally, Amundi grew its stake in shares of Lam Research by 23.7% during the first quarter. Amundi now owns 10,147,479 shares of the semiconductor company's stock valued at $2,168,107,000 after buying an additional 1,942,862 shares during the last quarter. Institutional investors own 84.61% of the company's stock.

More Lam Research News

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

• Positive Sentiment: The board approved a $25 billion share repurchase authorization, allowing Lam to buy back up to 9% of its outstanding shares, and declared a quarterly dividend of $0.33 per share. The buyback may support demand for the stock and signals management’s willingness to return capital. Company announcement
• Negative Sentiment: Reports attributed the selloff to investors reconsidering AI-related semiconductor-equipment spending and the sustainability of the sector’s recent profitability. That uncertainty may weigh on Lam, whose business depends on semiconductor manufacturers’ investment cycles. Article on semiconductor-equipment investors reassessing AI spending
• Negative Sentiment: Lam’s latest outlook also highlighted execution risks: management expects component shortages and a near-term decline in China-related revenue. The company forecast December-quarter revenue of about $8.6 billion and diluted EPS near $2.33, so investors may focus on whether supply and regional headwinds affect delivery of those targets. Article on Lam’s guidance
• Neutral Sentiment: One report said the stock’s sharp drop had no clear company-specific catalyst, suggesting broader market or sector positioning may also have contributed. Article on Lam Research’s share-price move

Insider Buying and Selling at Lam Research

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

Lam Research Trading Down 16.3%

NASDAQ:LRCX opened at $185.41 on Friday. The firm has a market capitalization of $231.61 billion, a P/E ratio of 32.76, a PEG ratio of 0.82 and a beta of 1.97. 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 one year low of $135.50 and a one year high of $438.50. The company's 50-day simple moving average is $286.73 and its 200 day simple moving average is $283.78.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results 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 return on equity of 72.15% and a net margin of 32.34%. The firm had revenue of $8.22 billion during the quarter, compared to analyst estimates of $8.14 billion. During the same quarter in the previous year, the firm earned $1.26 EPS. Lam Research's quarterly revenue was up 54.4% compared to the same quarter last year. As a group, analysts forecast that Lam Research Corporation will post 9.59 EPS for the current fiscal year.

Lam Research declared that its Board of Directors has authorized a share buyback plan on Thursday, November 5th that permits the company to repurchase $25 billion in outstanding shares. This buyback authorization permits the semiconductor company to buy up to 9% of its shares through open market purchases. Stock buyback plans are typically an indication that the company's board believes its stock is undervalued.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 6th. Stockholders of record on Wednesday, December 2nd will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, December 2nd. Lam Research's dividend payout ratio (DPR) is currently 19.67%.

Wall Street Analyst Weigh In

LRCX has been the topic of several recent research reports. Wells Fargo & Company restated an "overweight" rating and set a $350.00 price target (down from $450.00) on shares of Lam Research in a research report on Thursday, July 30th. B. Riley Financial increased their price objective on Lam Research from $350.00 to $390.00 and gave the company a "buy" rating in a research note on Thursday, October 1st. Bank of America reaffirmed a "buy" rating and issued a $345.00 target price on shares of Lam Research in a research note on Thursday, October 22nd. Wall Street Zen upgraded shares of Lam Research from a "hold" rating to a "buy" rating in a report on Saturday, October 24th. Finally, Morgan Stanley set a $339.00 price target on shares of Lam Research and gave the company an "overweight" rating in a research report on Thursday, October 22nd. Twenty-six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $360.23.

Lam Research Company 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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