Lam Research Corporation $LRCX Stock: Allspring Global Investments Holdings LLC Raises Holdings

Key Points

• Allspring Global Investments increased its Lam Research stake by 17.1% in the third quarter, adding 102,283 shares and bringing its holding to 700,385 shares, valued at about $238.2 million. Institutional investors and hedge funds collectively own 84.61% of the stock.
• Lam Research authorized a $25 billion share-repurchase plan, allowing buybacks of up to roughly 9% of outstanding shares, and declared a quarterly dividend of $0.33 per share.
• The company beat quarterly estimates with earnings of $2.20 per share and revenue of $8.22 billion, up 54.4% year over year. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $360.23.

Allspring Global Investments Holdings LLC boosted its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 17.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 700,385 shares of the semiconductor company's stock after buying an additional 102,283 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.06% of Lam Research worth $238,201,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Polaris Financial Partners purchased a new stake in shares of Lam Research in the 3rd quarter valued at about $4,814,000. Bank of America Corp DE boosted its position in shares of Lam Research by 5.5% in the 2nd quarter. Bank of America Corp DE now owns 11,244,147 shares of the semiconductor company's stock valued at $4,872,426,000 after purchasing an additional 584,489 shares during the period. Rokos Capital Management LLP grew its stake in Lam Research by 42.0% during the 1st quarter. Rokos Capital Management LLP now owns 259,921 shares of the semiconductor company's stock worth $55,532,000 after buying an additional 76,840 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super purchased a new position in Lam Research during the 1st quarter worth approximately $59,973,000. Finally, Meeder Asset Management Inc. increased its position in Lam Research by 50.7% during the first quarter. Meeder Asset Management Inc. now owns 37,383 shares of the semiconductor company's stock worth $7,987,000 after buying an additional 12,574 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Fundamental Research set a $390.00 price target on Lam Research in a research report on Thursday, October 1st. Evercore set a $315.00 price objective on Lam Research in a report on Tuesday, October 20th. Wall Street Zen upgraded shares of Lam Research from a "hold" rating to a "buy" rating in a research report on Saturday, October 24th. Mizuho cut their target price on shares of Lam Research from $365.00 to $360.00 and set an "outperform" rating on the stock in a report on Thursday, October 22nd. Finally, Berenberg Bank set a $420.00 target price on shares of Lam Research in a report on Wednesday, September 9th. Twenty-six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $360.23.

Insider Buying and Selling at Lam Research

In related news, insider Ava Harter sold 5,000 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $302.46, for a total transaction of $1,512,300.00. Following the completion of the sale, the insider directly owned 42,462 shares of the company's stock, valued at $12,843,056.52. This trade represents a 10.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 9,557 shares of Lam Research stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the completion of the transaction, the director owned 20,995 shares in the company, valued at approximately $6,607,966.30. This trade represents a 31.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.31% of the stock is owned by company insiders.

Key Headlines Impacting Lam Research

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

• Positive Sentiment: The authorization allows Lam Research to repurchase up to about 9% of its shares. Investors may view the plan as a sign of management confidence and a potential source of support for per-share earnings. Lam Research Shares Gain on $25 Billion Buyback Authorization
• Positive Sentiment: The company also declared a quarterly dividend of $0.33 per share, payable January 6 to shareholders of record December 2. Lam Research Corporation Announces $25 Billion Share Repurchase Authorization and Declares Quarterly Dividend
• Neutral Sentiment: The buyback has drawn attention to LRCX’s significant presence in semiconductor, technology and Nasdaq-100 funds; overlapping holdings could amplify the stock’s effect on investors’ portfolios in either direction. Own a Semiconductor ETF? Lam Research’s Buyback Move Affects You
• Negative Sentiment: Broader chip-sector volatility remains a risk: recent coverage cited concerns about AI-related spending, possible capital-expenditure slowdowns, regulation and investor profit-taking. Those worries could temper gains if they persist. Chip Stocks Just Had Their Second-Worst Day on Record

Lam Research Stock Performance

Shares of LRCX stock opened at $200.44 on Monday. The stock's 50-day moving average price is $284.37 and its 200 day moving average price is $283.67. The company has a quick ratio of 1.86, a current ratio of 2.48 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $250.38 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 0.74 and a beta of 1.97. Lam Research Corporation has a 52-week low of $135.50 and a 52-week high of $438.50.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share for the quarter, topping analysts' consensus estimates of $2.18 by $0.02. Lam Research had a return on equity of 72.15% and a net margin of 32.34%. The company had revenue of $8.22 billion during the quarter, compared to analysts' expectations of $8.14 billion. During the same period last year, the firm earned $1.26 EPS. The firm's revenue for the quarter was up 54.4% on a year-over-year basis. As a group, equities research analysts forecast that Lam Research Corporation will post 9.59 EPS for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 6th. Investors of record on Wednesday, December 2nd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $1.32 annualized dividend and a dividend yield of 0.7%. Lam Research's dividend payout ratio (DPR) is currently 19.67%.

Lam Research announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 5th that permits the company to buy back $25 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 9% of its shares through open market purchases. Share repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Lam Research Company Profile

Lam Research is a global supplier of equipment and services used to manufacture semiconductors. Its products help chipmakers create and process the microscopic structures that form integrated circuits.

The company's wafer fabrication equipment is used for processes including etch, thin-film deposition and wafer cleaning. Lam also provides services such as equipment maintenance, upgrades, spare parts and other support for chip manufacturing operations.

Founded in 1980 and headquartered in Fremont, California, Lam Research serves semiconductor manufacturers around the world.

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