Lam Research Corporation $LRCX Shares Sold by Legacy Capital Group California Inc.

Key Points

• Legacy Capital Group California Inc. reduced its Lam Research stake by 43% in the first quarter, selling 3,827 shares and leaving it with 5,069 shares worth about $1.08 million.
• Lam Research reported a strong quarter, with EPS of $1.47 and revenue of $5.84 billion, both above analyst expectations, while revenue grew 23.8% year over year.
• Wall Street remains upbeat on the stock: several firms raised price targets, and analysts now show a Moderate Buy consensus with an average target price of $350.81.

Legacy Capital Group California Inc. cut its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 43.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,069 shares of the semiconductor company's stock after selling 3,827 shares during the period. Legacy Capital Group California Inc.'s holdings in Lam Research were worth $1,083,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Cedar Mountain Advisors LLC increased its holdings in Lam Research by 242.9% in the 1st quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 85 shares during the last quarter. Vermillion Wealth Management Inc. acquired a new stake in Lam Research in the first quarter valued at approximately $26,000. PMV Capital Advisers LLC purchased a new stake in shares of Lam Research during the 4th quarter worth $25,000. Bayban purchased a new position in shares of Lam Research in the 4th quarter valued at about $26,000. Finally, Mcguire Capital Advisors Inc. acquired a new position in shares of Lam Research in the 4th quarter valued at $27,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $329.92 on Tuesday. Lam Research Corporation has a 52-week low of $90.93 and a 52-week high of $438.50. The stock has a market capitalization of $412.59 billion, a P/E ratio of 62.25, a P/E/G ratio of 2.07 and a beta of 1.80. The company has a quick ratio of 1.77, a current ratio of 2.54 and a debt-to-equity ratio of 0.35. The firm's 50-day moving average price is $336.33 and its two-hundred day moving average price is $265.32.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.36 by $0.11. The company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.70 billion. Lam Research had a net margin of 30.94% and a return on equity of 66.21%. Lam Research's revenue was up 23.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.04 earnings per share. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. As a group, sell-side analysts forecast that Lam Research Corporation will post 5.68 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Wednesday, June 17th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.3%. Lam Research's dividend payout ratio (DPR) is currently 19.62%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LRCX. TD Cowen reiterated a "buy" rating and set a $400.00 price target (up from $340.00) on shares of Lam Research in a research note on Thursday. Royal Bank Of Canada upped their price objective on Lam Research from $290.00 to $310.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. The Goldman Sachs Group reissued a "buy" rating and set a $290.00 price target on shares of Lam Research in a research note on Thursday, April 23rd. Cantor Fitzgerald set a $500.00 price target on shares of Lam Research and gave the company an "overweight" rating in a report on Monday, June 29th. Finally, Rothschild & Co Redburn raised their target price on shares of Lam Research from $305.00 to $420.00 and gave the stock a "buy" rating in a research report on Wednesday, June 17th. Twenty-eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, Lam Research has an average rating of "Moderate Buy" and an average target price of $350.81.

Insider Activity at Lam Research

In other news, SVP Neil J. Fernandes sold 18,170 shares of Lam Research stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $255.14, for a total value of $4,635,893.80. Following the transaction, the senior vice president directly owned 66,129 shares of the company's stock, valued at $16,872,153.06. This trade represents a 21.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Brandt sold 54,500 shares of the company's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $350.80, for a total value of $19,118,600.00. Following the transaction, the director directly owned 199,205 shares in the company, valued at $69,881,114. The trade was a 21.48% 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. Insiders sold 86,339 shares of company stock worth $27,680,267 in the last quarter. 0.31% of the stock is owned by company insiders.

Lam Research Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.