Manning & Napier Advisors LLC Sells 197,972 Shares of Lam Research Corporation $LRCX

Key Points

• Manning & Napier Advisors cut its Lam Research stake by 34.4% in Q1, selling 197,972 shares and leaving it with 378,000 shares worth about $80.8 million.
• Lam Research’s recent earnings beat Wall Street expectations, with Q3 EPS of $1.47 on revenue of $5.84 billion, and the company also raised its Q4 2026 guidance.
• Analyst sentiment remains bullish, with multiple firms lifting price targets and the consensus rating sitting at “Moderate Buy” with a target price of $350.81.

Manning & Napier Advisors LLC decreased its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 34.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 378,000 shares of the semiconductor company's stock after selling 197,972 shares during the period. Lam Research accounts for about 1.1% of Manning & Napier Advisors LLC's portfolio, making the stock its 28th largest position. Manning & Napier Advisors LLC's holdings in Lam Research were worth $80,763,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of LRCX. Valued Wealth Advisors LLC boosted its stake in shares of Lam Research by 7.9% during the first quarter. Valued Wealth Advisors LLC now owns 589 shares of the semiconductor company's stock valued at $126,000 after purchasing an additional 43 shares in the last quarter. Greenup Street Wealth Management LLC raised its stake in Lam Research by 1.8% in the first quarter. Greenup Street Wealth Management LLC now owns 2,433 shares of the semiconductor company's stock worth $520,000 after buying an additional 44 shares in the last quarter. Triumph Capital Management lifted its holdings in Lam Research by 22.5% during the fourth quarter. Triumph Capital Management now owns 245 shares of the semiconductor company's stock worth $42,000 after buying an additional 45 shares during the period. Traphagen Investment Advisors LLC lifted its holdings in Lam Research by 2.4% during the fourth quarter. Traphagen Investment Advisors LLC now owns 1,963 shares of the semiconductor company's stock worth $336,000 after buying an additional 46 shares during the period. Finally, Simplify Asset Management Inc. raised its position in shares of Lam Research by 3.2% in the 1st quarter. Simplify Asset Management Inc. now owns 1,526 shares of the semiconductor company's stock worth $326,000 after acquiring an additional 48 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

Insider Buying and Selling

In other Lam Research news, SVP Neil J. Fernandes sold 18,170 shares of Lam Research stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $255.14, for a total transaction of $4,635,893.80. Following the completion of the sale, the senior vice president owned 66,129 shares of the company's stock, valued at approximately $16,872,153.06. The trade was a 21.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ava Harter sold 6,010 shares of the stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $258.66, for a total value of $1,554,546.60. Following the completion of the transaction, the insider directly owned 53,205 shares in the company, valued at $13,762,005.30. This represents a 10.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 86,339 shares of company stock worth $27,680,267 in the last 90 days. Insiders own 0.31% of the company's stock.

Lam Research Stock Performance

NASDAQ:LRCX traded down $2.84 during trading hours on Friday, hitting $350.33. 6,880,746 shares of the company were exchanged, compared to its average volume of 13,276,366. The stock has a market capitalization of $438.11 billion, a price-to-earnings ratio of 66.10, a PEG ratio of 2.09 and a beta of 1.80. Lam Research Corporation has a 52-week low of $90.93 and a 52-week high of $438.50. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.54 and a quick ratio of 1.77. The company's 50 day moving average price is $334.89 and its 200-day moving average price is $263.61.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.11. Lam Research had a net margin of 30.94% and a return on equity of 66.21%. The business had revenue of $5.84 billion during the quarter, compared to analysts' expectations of $5.70 billion. During the same quarter last year, the company posted $1.04 earnings per share. The business's quarterly revenue was up 23.8% on a year-over-year basis. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. As a group, research analysts forecast that Lam Research Corporation will post 5.68 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Wednesday, June 17th. Lam Research's dividend payout ratio is presently 19.62%.

Wall Street Analyst Weigh In

Several research firms have issued reports on LRCX. Seaport Research Partners started coverage on Lam Research in a research note on Monday, May 4th. They issued a "buy" rating and a $300.00 target price on the stock. Jefferies Financial Group boosted their price objective on shares of Lam Research from $285.00 to $315.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. Evercore upped their price target on Lam Research from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. Cantor Fitzgerald set a $500.00 price objective on Lam Research and gave the company an "overweight" rating in a report on Monday, June 29th. Finally, Bank of America raised their price objective on Lam Research from $330.00 to $480.00 and gave the stock a "buy" rating in a research report on Tuesday, June 23rd. Twenty-eight equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $350.81.

Key Headlines Impacting Lam Research

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

• Positive Sentiment: Mizuho raised its price target on Lam Research to $400 from $380 and kept an outperform rating, adding to the bullish analyst momentum around the stock.
• Positive Sentiment: Stifel Nicolaus boosted its target to $425 from $325 and reiterated a buy rating, citing above-consensus estimates and suggesting further upside for LRCX.
• Positive Sentiment: Needham also increased its target to $390 from $300 and maintained a buy rating, reinforcing the view that Lam Research is well positioned to benefit from AI-driven chip demand.
• Positive Sentiment: Additional coverage highlighted Lam Research as a beneficiary of broader AI infrastructure spending and possible easing of China-related chip restrictions, which could improve sentiment across semiconductor equipment names. Does AI Rebound and China Chip Access Shift Change The Bull Case For Lam Research (LRCX)?
• Neutral Sentiment: Lam Research announced that it will host its June quarter financial conference call and webcast on July 29, giving investors a near-term catalyst to watch.
• Neutral Sentiment: Short-interest data showed no meaningful change, with reported short interest at zero shares, so it does not appear to be a factor driving the move.

Lam Research 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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