Lam Research Corporation $LRCX Stock: Brighton Jones LLC Grows Holdings

Key Points

• Brighton Jones LLC increased its Lam Research stake by 86.2% in the third quarter, ending the period with 51,700 shares valued at about $17 million. Institutional investors collectively own 84.61% of the company.
• Lam Research authorized a $25 billion share buyback, potentially covering up to 9% of outstanding shares, and declared a quarterly dividend of $0.33 per share.
• The company reported quarterly EPS of $2.20 and revenue of $8.22 billion, both ahead of analyst expectations; its shares carry a consensus “Moderate Buy” rating and an average price target of $360.23.

Brighton Jones LLC increased its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 86.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,700 shares of the semiconductor company's stock after acquiring an additional 23,929 shares during the quarter. Brighton Jones LLC's holdings in Lam Research were worth $16,986,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of LRCX. State Street Corp increased its stake in Lam Research by 2.6% in the second quarter. State Street Corp now owns 60,704,130 shares of the semiconductor company's stock valued at $26,320,468,000 after purchasing an additional 1,545,830 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Lam Research by 5.5% during the second 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. Van ECK Associates Corp raised its holdings in shares of Lam Research by 411.8% during the second quarter. Van ECK Associates Corp now owns 11,089,395 shares of the semiconductor company's stock valued at $4,805,368,000 after purchasing an additional 8,922,854 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Lam Research during the 2nd quarter worth about $3,777,585,000. Finally, Amundi boosted its position in shares of Lam Research by 23.7% during the 1st quarter. Amundi now owns 10,147,479 shares of the semiconductor company's stock worth $2,168,107,000 after purchasing an additional 1,942,862 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Key Stories 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

Insider Transactions at Lam Research

In other Lam Research news, Director Bethany Mayer sold 9,557 shares of Lam Research stock in a transaction dated Wednesday, September 9th. The stock was 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. The trade was a 31.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ava Harter sold 5,000 shares of the business's stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $302.46, for a total value of $1,512,300.00. Following the sale, the insider directly owned 42,462 shares of the company's stock, valued at $12,843,056.52. This represents a 10.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.31% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Bank of America restated a "buy" rating and issued a $345.00 target price on shares of Lam Research in a research note on Thursday, October 22nd. Fundamental Research set a $390.00 target price on Lam Research in a research report on Thursday, October 1st. Wells Fargo & Company reaffirmed an "overweight" rating and set a $350.00 price target (down from $450.00) on shares of Lam Research in a research note on Thursday, July 30th. Mizuho cut their price target on Lam Research from $365.00 to $360.00 and set an "outperform" rating on the stock in a report on Thursday, October 22nd. Finally, HSBC reiterated a "hold" rating and issued a $333.00 price target on shares of Lam Research in a report on Monday, July 27th. Twenty-six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $360.23.

Lam Research Stock Performance

Shares of LRCX stock opened at $200.44 on Friday. The company has a current ratio of 2.48, a quick ratio of 1.86 and a debt-to-equity ratio of 0.27. The firm has a fifty day simple moving average of $284.37 and a two-hundred day simple moving average of $283.67. Lam Research Corporation has a 12 month low of $135.50 and a 12 month high of $438.50. The firm 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 (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share for the quarter, beating analysts' consensus estimates of $2.18 by $0.02. The firm had revenue of $8.22 billion for the quarter, compared to analyst estimates of $8.14 billion. Lam Research had a net margin of 32.34% and a return on equity of 72.15%. The business's quarterly revenue was up 54.4% compared to the same quarter last year. During the same period last year, the firm earned $1.26 earnings per share. Analysts forecast that Lam Research Corporation will post 9.59 EPS for the current fiscal year.

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

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 6th. Investors of record on Wednesday, December 2nd will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, December 2nd. Lam Research's dividend payout ratio is currently 19.67%.

Lam Research 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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