Lam Research Corporation $LRCX Shares Sold by DAVENPORT & Co LLC

Key Points

• DAVENPORT & Co LLC has reduced its stake in Lam Research Corporation by 11.3% during the second quarter, now holding 27,527 shares valued at approximately $2.68 million.
• Lam Research reported a better-than-expected $1.33 EPS for the last quarter, surpassing analyst estimates of $1.21, with revenue of $5.17 billion reflecting a 33.6% year-over-year increase.
• The company has increased its quarterly dividend to $0.26 per share, scheduled for payment on October 15, indicating a dividend yield of 0.7%.

DAVENPORT & Co LLC trimmed its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 11.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,527 shares of the semiconductor company's stock after selling 3,516 shares during the period. DAVENPORT & Co LLC's holdings in Lam Research were worth $2,679,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC boosted its stake in Lam Research by 10.5% during the 1st quarter. Empowered Funds LLC now owns 187,472 shares of the semiconductor company's stock worth $13,629,000 after purchasing an additional 17,833 shares during the last quarter. Pinnacle Financial Partners Inc acquired a new position in Lam Research during the first quarter worth about $201,000. Cookson Peirce & Co. Inc. acquired a new position in Lam Research during the first quarter worth about $607,000. China Universal Asset Management Co. Ltd. boosted its position in Lam Research by 27.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 49,505 shares of the semiconductor company's stock worth $3,607,000 after acquiring an additional 10,565 shares during the last quarter. Finally, Glass Wealth Management Co LLC boosted its position in Lam Research by 8.5% during the second quarter. Glass Wealth Management Co LLC now owns 28,870 shares of the semiconductor company's stock worth $2,810,000 after acquiring an additional 2,270 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Performance

Shares of Lam Research stock opened at $142.54 on Thursday. The business's fifty day simple moving average is $113.18 and its 200-day simple moving average is $93.66. Lam Research Corporation has a 52 week low of $56.32 and a 52 week high of $153.70. The company has a quick ratio of 1.55, a current ratio of 2.21 and a debt-to-equity ratio of 0.38. The firm has a market cap of $179.75 billion, a PE ratio of 34.26, a price-to-earnings-growth ratio of 1.71 and a beta of 1.84.

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

Lam Research Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Wednesday, September 24th. This represents a $1.04 annualized dividend and a dividend yield of 0.7%. This is an increase from Lam Research's previous quarterly dividend of $0.23. Lam Research's dividend payout ratio (DPR) is currently 25.00%.

Analyst Ratings Changes

LRCX has been the topic of several recent research reports. Hsbc Global Res upgraded Lam Research to a "hold" rating in a report on Tuesday, September 30th. TD Cowen boosted their price objective on Lam Research from $100.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Stifel Nicolaus boosted their price target on shares of Lam Research from $92.00 to $110.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Summit Insights cut shares of Lam Research from a "buy" rating to a "hold" rating in a research report on Thursday, July 31st. Finally, Cantor Fitzgerald boosted their price target on shares of Lam Research from $120.00 to $155.00 and gave the company an "overweight" rating in a research report on Wednesday, October 1st. Twenty-three analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $121.00.

Lam Research Company 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.

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