Lam Research Corporation $LRCX Stake Increased by Proficio Capital Partners LLC

Key Points

• Proficio Capital Partners increased its Lam Research stake by 24.4% in the second quarter, bringing its holdings to 38,496 shares valued at approximately $16.7 million. Institutional investors collectively own 84.61% of LRCX.
• Lam Research exceeded quarterly expectations, reporting $1.82 in EPS and $6.72 billion in revenue, with revenue up 30% year over year. The company also raised its quarterly dividend from $0.26 to $0.33 per share.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $357.31, although some firms recently reduced their targets. Two directors sold shares under pre-arranged Rule 10b5-1 plans.

Proficio Capital Partners LLC increased its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 24.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,496 shares of the semiconductor company's stock after acquiring an additional 7,555 shares during the period. Proficio Capital Partners LLC's holdings in Lam Research were worth $16,682,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of LRCX. State Street Corp increased its stake in Lam Research by 0.4% in the 3rd quarter. State Street Corp now owns 59,817,352 shares of the semiconductor company's stock valued at $8,024,684,000 after buying an additional 265,805 shares during the period. Geode Capital Management LLC lifted its position in shares of Lam Research by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 33,747,368 shares of the semiconductor company's stock worth $5,764,117,000 after buying an additional 126,613 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Lam Research by 7.7% during the 4th quarter. Invesco Ltd. now owns 22,821,354 shares of the semiconductor company's stock worth $3,906,559,000 after acquiring an additional 1,638,406 shares in the last quarter. Norges Bank bought a new stake in shares of Lam Research during the 4th quarter worth about $3,645,427,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Lam Research by 352.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,695,210 shares of the semiconductor company's stock valued at $2,344,347,000 after acquiring an additional 10,666,540 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lam Research

In other news, Director Abhijit Y. Talwalkar sold 18,282 shares of the firm's stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $335.00, for a total transaction of $6,124,470.00. Following the completion of the sale, the director owned 87,142 shares of the company's stock, valued at approximately $29,192,570. This trade represents a 17.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Brandt sold 54,500 shares of Lam Research stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $350.80, for a total transaction of $19,118,600.00. Following the completion of the transaction, the director owned 199,205 shares of the company's stock, valued at $69,881,114. This trade represents a 21.48% 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. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

LRCX has been the subject of several analyst reports. Wells Fargo & Company restated an "overweight" rating and issued a $350.00 target price (down from $450.00) on shares of Lam Research in a report on Thursday, July 30th. Seaport Research Partners began coverage on shares of Lam Research in a report on Monday, May 4th. They set a "buy" rating and a $300.00 price objective for the company. Mizuho lowered their target price on shares of Lam Research from $370.00 to $365.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 25th. Needham & Company LLC reiterated a "buy" rating and issued a $390.00 target price on shares of Lam Research in a report on Thursday, July 30th. Finally, HSBC reissued a "hold" rating and set a $333.00 target price on shares of Lam Research in a research report on Monday, July 27th. One equities research 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 data from MarketBeat, Lam Research has a consensus rating of "Moderate Buy" and an average target price of $357.31.

Lam Research Stock Performance

Shares of NASDAQ:LRCX opened at $301.49 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.63 and a quick ratio of 1.91. The business's fifty day moving average price is $328.26 and its two-hundred day moving average price is $290.09. Lam Research Corporation has a fifty-two week low of $94.11 and a fifty-two week high of $438.50. The stock has a market capitalization of $377.26 billion, a price-to-earnings ratio of 52.34, a price-to-earnings-growth ratio of 1.20 and a beta of 1.84.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data 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. Lam Research had a return on equity of 67.60% and a net margin of 31.27%.The company had revenue of $6.72 billion during the quarter, compared to analysts' expectations of $6.66 billion. During the same period last year, the business earned $1.33 earnings per share. The business's revenue was up 30.0% on a year-over-year basis. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. As a group, analysts predict that Lam Research Corporation will post 9.33 EPS for the current fiscal year.

Lam Research Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 23rd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $1.32 annualized dividend and a yield of 0.4%. This is an increase from Lam Research's previous quarterly dividend of $0.26. Lam Research's payout ratio is 18.06%.

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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