Lam Research Corporation $LRCX Shares Sold by Heard Capital LLC

Key Points

• Heard Capital LLC reduced its Lam Research stake by 18.5% in the fourth quarter, selling 292,585 shares and leaving it with 1,292,655 shares worth about $221.3 million. Lam Research remained the fund’s third-largest holding.
• Lam Research posted stronger-than-expected quarterly results, with EPS of $1.47 topping estimates and revenue of $5.84 billion beating forecasts. The company also raised its Q4 2026 guidance and continues to benefit from demand tied to AI and advanced semiconductor packaging.
• Analyst sentiment remains broadly positive despite valuation concerns, with 28 analysts rating the stock a Buy and the consensus at “Moderate Buy.” However, some commentary warns the shares look expensive after a sharp rally, and insiders have also sold stock recently.

Heard Capital LLC lessened its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 18.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,292,655 shares of the semiconductor company's stock after selling 292,585 shares during the period. Lam Research makes up about 10.4% of Heard Capital LLC's holdings, making the stock its 3rd largest position. Heard Capital LLC owned 0.10% of Lam Research worth $221,277,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in LRCX. Norges Bank purchased a new position in shares of Lam Research during the fourth quarter valued at approximately $3,645,427,000. Arrowstreet Capital Limited Partnership lifted its holdings in Lam Research by 781.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 11,340,865 shares of the semiconductor company's stock worth $1,518,542,000 after acquiring an additional 10,053,978 shares during the period. Franklin Resources Inc. raised its stake in shares of Lam Research by 57.0% in the fourth quarter. Franklin Resources Inc. now owns 10,110,560 shares of the semiconductor company's stock valued at $1,730,724,000 after buying an additional 3,671,073 shares during the period. Invesco Ltd. raised its stake in shares of Lam Research by 18.2% in the third quarter. Invesco Ltd. now owns 21,182,948 shares of the semiconductor company's stock valued at $2,836,397,000 after buying an additional 3,263,658 shares during the period. Finally, California Public Employees Retirement System raised its stake in shares of Lam Research by 108.7% in the third quarter. California Public Employees Retirement System now owns 4,526,099 shares of the semiconductor company's stock valued at $606,045,000 after buying an additional 2,356,897 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research News Summary

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

• Positive Sentiment: Several recent articles argue Lam Research still has strong growth potential, citing healthy earnings momentum, solid demand, and long-term outperformance potential. Is Lam Research (LRCX) a Solid Growth Stock? 3 Reasons to Think "Yes"
• Positive Sentiment: Analysts and market commentary continue to point to AI-related semiconductor demand and advanced packaging as a possible growth catalyst for LRCX. Lam Research Expects Packaging Growth of 50%: Is It a Hidden Catalyst?
• Positive Sentiment: The broader chip rally is still supporting sentiment, with semiconductor ETFs and peers pushing to new highs and helping keep money flowing into the sector. Chips Up 8.8% in One Week: 5 Semiconductor Names Breaking Into New Highs
• Neutral Sentiment: One market note highlighted Lam Research as a “final trade,” which may reflect positive trader interest but does not provide a fundamental catalyst. Alphabet, Lam Research And A Financial Stock On CNBC's 'Final Trades'
• Neutral Sentiment: Lam Research director Eric Brandt sold 54,500 shares in a pre-arranged 10b5-1 transaction; the sale is notable, but it does not necessarily signal a negative business outlook. SEC filing for director share sale
• Negative Sentiment: Some commentary flagged Lam’s elevated valuation, suggesting the stock is priced for very strong future growth and could be vulnerable if that growth slows. Decoding LRCX Stock's Premium Valuation
• Negative Sentiment: Trading headlines also noted that LRCX underperformed the broader market in the latest session, likely reinforcing short-term profit-taking after the recent run-up. Why Lam Research (LRCX) Dipped More Than Broader Market Today

Analyst Ratings Changes

Several brokerages have recently weighed in on LRCX. The Goldman Sachs Group reiterated a "buy" rating and issued a $290.00 price target on shares of Lam Research in a research report on Thursday, April 23rd. Evercore lifted their target price on shares of Lam Research from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Thursday, April 23rd. Weiss Ratings cut Lam Research from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, May 14th. HSBC upped their price objective on Lam Research from $221.00 to $247.00 and gave the stock a "hold" rating in a report on Friday, April 24th. Finally, Zacks Research lowered Lam Research from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 6th. Twenty-eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $324.26.

Lam Research Stock Down 5.0%

Shares of NASDAQ:LRCX opened at $369.34 on Wednesday. Lam Research Corporation has a 52-week low of $87.75 and a 52-week high of $393.07. The firm has a market capitalization of $461.89 billion, a P/E ratio of 69.69, a P/E/G ratio of 3.20 and a beta of 1.85. The stock has a 50 day moving average price of $292.53 and a 200-day moving average price of $237.34. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.77 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.11. Lam Research had a return on equity of 66.21% and a net margin of 30.94%.The firm had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the prior year, the company earned $1.04 EPS. The business's revenue was up 23.8% compared to the same quarter last year. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. As a group, equities research analysts anticipate that Lam Research Corporation will post 5.7 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, June 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.3%. Lam Research's dividend payout ratio is presently 19.62%.

Insider Buying and Selling

In related news, SVP Neil J. Fernandes sold 7,659 shares of the company's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $309.60, for a total value of $2,371,226.40. Following the sale, the senior vice president owned 58,470 shares in the company, valued at $18,102,312. This represents a 11.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ava Harter sold 6,010 shares of the company's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $258.66, for a total value of $1,554,546.60. Following the completion of the sale, the insider owned 53,205 shares in the company, valued at $13,762,005.30. The trade was a 10.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 86,339 shares of company stock worth $27,680,267 in the last 90 days. Insiders own 0.31% of the company's stock.

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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