Lam Research Corporation $LRCX Shares Sold by Legacy Wealth Asset Management LLC

Key Points

• Legacy Wealth Asset Management cut its Lam Research stake by 68.9% in the third quarter, selling 10,292 shares and retaining 4,642 shares valued at approximately $1.53 million. Institutional investors collectively own 84.61% of LRCX.
• Lam Research reported strong quarterly results, with revenue rising 30% year over year to $6.72 billion and EPS of $1.82, beating estimates. Management issued quarterly EPS guidance of $2.00 to $2.30.
• The company increased its quarterly dividend to $0.33 per share, while analysts maintained a broadly positive outlook with a consensus “Moderate Buy” rating and an average price target of $364.59.

Legacy Wealth Asset Management LLC decreased its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 68.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,642 shares of the semiconductor company's stock after selling 10,292 shares during the quarter. Legacy Wealth Asset Management LLC's holdings in Lam Research were worth $1,525,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Chapin Davis Inc. boosted its stake in shares of Lam Research by 0.5% in the 3rd quarter. Chapin Davis Inc. now owns 43,307 shares of the semiconductor company's stock valued at $14,227,000 after buying an additional 208 shares during the period. LifeGoal Investments LLC purchased a new stake in shares of Lam Research during the third quarter worth approximately $215,000. Market Street Wealth Management Advisors LLC increased its stake in shares of Lam Research by 6.6% during the third quarter. Market Street Wealth Management Advisors LLC now owns 998 shares of the semiconductor company's stock worth $328,000 after buying an additional 62 shares during the period. Monument Capital Management raised its holdings in Lam Research by 1.3% in the third quarter. Monument Capital Management now owns 16,747 shares of the semiconductor company's stock valued at $5,501,000 after acquiring an additional 218 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its holdings in Lam Research by 1.5% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 369,143 shares of the semiconductor company's stock valued at $121,267,000 after acquiring an additional 5,300 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Insider Activity

In related news, insider Ava Harter sold 5,000 shares of the company's stock in a transaction on Monday, August 31st. The shares were sold at an average price of $302.46, for a total value of $1,512,300.00. Following the completion of the sale, the insider owned 42,462 shares in the company, valued at $12,843,056.52. This represents a 10.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Abhijit Talwalkar sold 18,282 shares of the stock in a transaction on Monday, July 13th. The stock was sold at an average price of $335.00, for a total transaction of $6,124,470.00. Following the sale, the director owned 87,142 shares of the company's stock, valued at approximately $29,192,570. This represents a 17.34% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 32,839 shares of company stock valued at $10,644,740 in the last ninety days. 0.31% of the stock is currently owned by company insiders.

Trending Headlines about Lam Research

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

• Positive Sentiment: Lam Research remains a major beneficiary of AI-related chip investment, including demand for advanced packaging, high-bandwidth memory and semiconductor manufacturing equipment. The stock has gained approximately 73% year to date and was identified as one of the leading return-on-equity stocks. Is Lam Research a Smart AI Stock Pick?
• Positive Sentiment: Recent investment commentary highlighted Lam alongside NVIDIA, Applied Materials and TSMC as companies with dependable earnings and durable growth prospects from the AI semiconductor cycle. Top Chip Stocks to Ride the AI Boom
• Positive Sentiment: Lam’s latest reported quarter showed strong execution: earnings per share and revenue exceeded consensus estimates, with revenue up 30% year over year. Management also provided quarterly EPS guidance of $2.00 to $2.30, supporting the growth narrative.

Lam Research Stock Down 2.7%

LRCX opened at $320.59 on Friday. The business's 50-day simple moving average is $310.47 and its 200-day simple moving average is $305.77. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.91 and a current ratio of 2.63. Lam Research Corporation has a one year low of $131.02 and a one year high of $438.50. The stock has a market capitalization of $401.19 billion, a P/E ratio of 55.66, a price-to-earnings-growth ratio of 1.31 and a beta of 1.85.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, July 29th. The semiconductor company reported $1.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.69 by $0.13. The firm had revenue of $6.72 billion during the quarter, compared to analysts' expectations of $6.66 billion. Lam Research had a return on equity of 67.60% and a net margin of 31.27%.The business's revenue was up 30.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.33 EPS. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. Analysts anticipate that Lam Research Corporation will post 9.34 EPS for the current year.

Lam Research Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 23rd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.4%. This is a boost from Lam Research's previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, September 23rd. Lam Research's payout ratio is 22.92%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on LRCX shares. Rothschild & Co Redburn boosted their price target on shares of Lam Research from $305.00 to $420.00 and gave the stock a "buy" rating in a report on Wednesday, June 17th. B. Riley Financial raised their price objective on shares of Lam Research from $350.00 to $390.00 and gave the company a "buy" rating in a report on Thursday, October 1st. HSBC reaffirmed a "hold" rating and set a $333.00 price objective on shares of Lam Research in a research report on Monday, July 27th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $320.00 target price on shares of Lam Research in a research note on Thursday, July 30th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $385.00 target price (up from $367.00) on shares of Lam Research in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $364.59.

About Lam Research

Lam Research Corporation is a semiconductor equipment company that designs, manufactures, and services systems used in the fabrication of integrated circuits and other electronic devices. Its equipment supports key steps in the wafer manufacturing process, helping semiconductor producers create increasingly small and complex features on silicon wafers.

The company's portfolio includes systems for etch, deposition, wafer cleaning, surface preparation, and related manufacturing processes.

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