Lam Research Corporation $LRCX Shares Sold by Naples Global Advisors LLC

Key Points

• Naples Global Advisors reduced its Lam Research position by 5.9% in the second quarter, selling 4,199 shares and retaining 67,346 shares worth approximately $29.2 million. Institutional investors and hedge funds collectively own 84.61% of LRCX.
• Analysts remain broadly bullish, with a consensus rating of “Moderate Buy” and an average price target of $358.47; recent targets range from $280 to $420.
• Lam Research exceeded quarterly expectations, reporting $1.82 in earnings per share versus the $1.69 estimate and $6.72 billion in revenue, up 30% year over year. The stock opened at $314, compared with a 12-month range of $94.11 to $438.50.

Naples Global Advisors LLC reduced its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 5.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,346 shares of the semiconductor company's stock after selling 4,199 shares during the period. Lam Research makes up about 1.8% of Naples Global Advisors LLC's holdings, making the stock its 11th biggest holding. Naples Global Advisors LLC's holdings in Lam Research were worth $29,199,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of LRCX. Brighton Jones LLC lifted its stake in shares of Lam Research by 1,032.4% in the fourth quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock worth $1,025,000 after acquiring an additional 12,936 shares in the last quarter. Caxton Associates LLP purchased a new position in Lam Research in the first quarter valued at about $239,000. Gabelli Funds LLC acquired a new stake in Lam Research during the 2nd quarter valued at approximately $253,000. NewEdge Advisors LLC grew its stake in Lam Research by 2.7% during the 2nd quarter. NewEdge Advisors LLC now owns 100,528 shares of the semiconductor company's stock valued at $9,785,000 after purchasing an additional 2,661 shares in the last quarter. Finally, Osterweis Capital Management Inc. increased its holdings in Lam Research by 5,206.7% during the 2nd quarter. Osterweis Capital Management Inc. now owns 796 shares of the semiconductor company's stock worth $77,000 after purchasing an additional 781 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on LRCX. New Street Research upped their target price on Lam Research from $235.00 to $280.00 and gave the company a "neutral" rating in a research report on Monday, April 27th. Barclays restated an "overweight" rating and issued a $335.00 price target (up from $275.00) on shares of Lam Research in a research note on Thursday, June 11th. Morgan Stanley cut their price target on shares of Lam Research from $404.00 to $367.00 and set an "overweight" rating on the stock in a report on Thursday, July 30th. Sanford C. Bernstein increased their price objective on shares of Lam Research from $325.00 to $340.00 and gave the company an "outperform" rating in a research note on Thursday, May 21st. Finally, Rothschild & Co Redburn raised their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $358.47.

Lam Research Stock Performance

Lam Research stock opened at $314.00 on Monday. The company has a market cap of $392.91 billion, a PE ratio of 54.51, a P/E/G ratio of 1.25 and a beta of 1.84. The company has a fifty day moving average price of $337.47 and a two-hundred day moving average price of $286.43. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.63 and a quick ratio of 1.91. Lam Research Corporation has a 12 month low of $94.11 and a 12 month high of $438.50.

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

Insider Buying and Selling

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 value of $2,371,226.40. Following the sale, the senior vice president directly owned 58,470 shares of the company's stock, valued at $18,102,312. This trade represents a 11.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Abhijit Y. Talwalkar sold 18,282 shares of the firm's 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 completion of the sale, the director owned 87,142 shares in the company, valued at $29,192,570. The trade was a 17.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 80,441 shares of company stock worth $27,614,296 over 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.

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