Lam Research Corporation $LRCX Stock Position Lifted by Bank of America Corp DE

Bank of America Corp DE lifted its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 5.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,244,147 shares of the semiconductor company's stock after acquiring an additional 584,489 shares during the period. Bank of America Corp DE owned about 0.90% of Lam Research worth $4,872,426,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in LRCX. Bayban bought a new stake in Lam Research during the 4th quarter valued at $26,000. Vermillion Wealth Management Inc. acquired a new stake in Lam Research in the first quarter worth approximately $26,000. Cedar Mountain Advisors LLC lifted its position in Lam Research by 242.9% in the first quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 85 shares during the period. Paladin Partners LLC bought a new stake in shares of Lam Research in the 2nd quarter worth $26,000. Finally, Core Wealth Advisors LLC acquired a new stake in shares of Lam Research in the fourth quarter valued at $29,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lam Research

In related news, Director Abhijit Talwalkar sold 18,282 shares of the company's stock in a transaction 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 transaction, the director directly owned 87,142 shares in the company, valued at $29,192,570. This represents a 17.34% decrease in their position. The transaction 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 the 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 sale, the director directly owned 20,995 shares of the company's stock, valued at approximately $6,607,966.30. This trade represents a 31.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 32,839 shares of company stock worth $10,644,740 in the last 90 days. 0.31% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of research analyst reports. Sanford C. Bernstein upped their price target on shares of Lam Research from $325.00 to $340.00 and gave the company an "outperform" rating in a report on Thursday, May 21st. Bank of America upped their price target on Lam Research from $330.00 to $480.00 and gave the company a "buy" rating in a report on Tuesday, June 23rd. TD Cowen reiterated a "buy" rating and set a $400.00 price objective (up from $340.00) on shares of Lam Research in a research report on Thursday, July 9th. Berenberg Bank set a $420.00 target price on Lam Research in a research report on Wednesday, September 9th. Finally, Cantor Fitzgerald set a $500.00 price objective on Lam Research and gave the stock an "overweight" rating in a report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Lam Research presently has a consensus rating of "Moderate Buy" and a consensus target price of $361.81.

Lam Research Stock Down 8.3%

LRCX stock opened at $273.49 on Tuesday. The firm has a market cap of $342.22 billion, a PE ratio of 47.48, a PEG ratio of 1.18 and a beta of 1.85. Lam Research Corporation has a 1 year low of $117.03 and a 1 year high of $438.50. The company has a fifty day simple moving average of $311.84 and a 200 day simple moving average of $294.39. The company has a current ratio of 2.63, a quick ratio of 1.91 and a debt-to-equity ratio of 0.30.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, July 29th. The semiconductor company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.69 by $0.13. Lam Research had a net margin of 31.27% and a return on equity of 67.60%. The firm had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.66 billion. During the same period in the prior year, the business posted $1.33 earnings per share. The business's quarterly 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. Sell-side analysts anticipate that Lam Research Corporation will post 9.33 EPS for the current fiscal year.

Lam Research Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 23rd will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, September 23rd. This is a positive change from Lam Research's previous quarterly dividend of $0.26. Lam Research's dividend payout ratio is currently 18.06%.

Lam Research Company Profile

Lam Research Corporation is a semiconductor equipment company that develops and manufactures systems used in the fabrication of integrated circuits. Its equipment supports key wafer-processing steps, including deposition, etch, wafer cleaning, and related processes used to create and connect the microscopic features found on semiconductor devices.

The company serves semiconductor manufacturers producing a range of products, including memory, logic, and specialty chips. In addition to manufacturing equipment, Lam Research provides installation, maintenance, spare parts, upgrades, technical support, and other services intended to help customers operate and improve their fabrication facilities.

Founded in 1980, Lam Research is headquartered in Fremont, California, and serves customers through a global network of offices, engineering facilities, and support operations.

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