Lam Research Corporation $LRCX Shares Sold by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions reduced its Lam Research stake by 4.2% in the second quarter, selling 4,746 shares and retaining 108,335 shares valued at approximately $46.9 million. Institutional investors and hedge funds collectively own 84.61% of LRCX.
• Analyst sentiment remains positive, with one Strong Buy, 26 Buy and five Hold ratings. The consensus price target is $358.47, with recent targets ranging from $333 to $500.
• Lam Research exceeded quarterly expectations with adjusted EPS of $1.82 versus $1.69 expected and revenue of $6.72 billion, up 30% year over year. However, insiders sold 80,441 shares worth approximately $27.6 million during the past 90 days.

Envestnet Portfolio Solutions Inc. trimmed its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 4.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 108,335 shares of the semiconductor company's stock after selling 4,746 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Lam Research were worth $46,945,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Cedar Mountain Advisors LLC lifted its holdings in Lam Research by 242.9% in the first quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company's stock worth $26,000 after acquiring an additional 85 shares during the last quarter. Vermillion Wealth Management Inc. bought a new position in shares of Lam Research during the first quarter valued at approximately $26,000. Hughes Financial Services LLC raised its position in shares of Lam Research by 54.9% during the 2nd quarter. Hughes Financial Services LLC now owns 141 shares of the semiconductor company's stock worth $61,000 after purchasing an additional 50 shares during the period. Bayban acquired a new stake in shares of Lam Research during the 4th quarter worth approximately $26,000. Finally, Mcguire Capital Advisors Inc. bought a new stake in shares of Lam Research in the 4th quarter worth approximately $27,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LRCX has been the subject of a number of recent research reports. Cantor Fitzgerald set a $500.00 price objective on Lam Research and gave the stock an "overweight" rating in a research note on Monday, June 29th. UBS Group reiterated a "buy" rating and issued a $375.00 target price (up from $310.00) on shares of Lam Research in a research note on Tuesday, June 9th. Raymond James Financial set a $425.00 price target on shares of Lam Research in a report on Wednesday, June 10th. HSBC reaffirmed a "hold" rating and issued a $333.00 price objective on shares of Lam Research in a report on Monday, July 27th. Finally, Bank of America lifted their price objective on shares of Lam Research from $330.00 to $480.00 and gave the company a "buy" rating in a research report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $358.47.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $307.17 on Thursday. The stock has a market cap of $384.37 billion, a P/E ratio of 53.33, a P/E/G ratio of 1.30 and a beta of 1.84. The firm's 50-day simple moving average is $339.57 and its 200 day simple moving average is $285.35. Lam Research Corporation has a fifty-two week low of $94.11 and a fifty-two week high of $438.50. The company has a quick ratio of 1.91, a current ratio of 2.63 and a debt-to-equity ratio of 0.30.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, July 29th. The semiconductor company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.69 by $0.13. The firm had revenue of $6.72 billion for the quarter, compared to analysts' expectations of $6.66 billion. Lam Research had a net margin of 31.27% and a return on equity of 67.60%. Lam Research's quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter last year, the company earned $1.33 EPS. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. Equities analysts expect that Lam Research Corporation will post 9.32 EPS for the current year.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Neil J. Fernandes sold 7,659 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $309.60, for a total transaction of $2,371,226.40. Following the completion of the transaction, the senior vice president directly owned 58,470 shares of the company's stock, valued at approximately $18,102,312. This trade represents a 11.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Abhijit Y. Talwalkar sold 18,282 shares of Lam Research stock in a transaction on Monday, July 13th. The shares were sold at an average price of $335.00, for a total value of $6,124,470.00. Following the transaction, the director owned 87,142 shares in the company, valued at approximately $29,192,570. This trade represents a 17.34% 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. In the last ninety days, insiders sold 80,441 shares of company stock valued at $27,614,296. 0.31% of the stock is owned by corporate insiders.

About Lam Research

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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