Mechanics Bank Trust Department Cuts Stock Holdings in Lam Research Corporation $LRCX

Key Points

• Mechanics Bank Trust Department reduced its stake in Lam Research Corporation by 25.1% in the second quarter, bringing its holdings to 9,724 shares worth approximately $947,000.
• Several institutional investors, including Empowered Funds LLC and First Citizens Bank & Trust Co., have increased their positions in Lam Research, indicating strong interest in the stock.
• Lam Research recently reported a quarterly EPS of $1.33, beating expectations, alongside a 33.6% year-over-year revenue increase and announced a dividend increase to $0.26 per share.

Mechanics Bank Trust Department reduced its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 25.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,724 shares of the semiconductor company's stock after selling 3,256 shares during the quarter. Mechanics Bank Trust Department's holdings in Lam Research were worth $947,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of LRCX. Empowered Funds LLC grew its position in Lam Research by 10.5% in the 1st quarter. Empowered Funds LLC now owns 187,472 shares of the semiconductor company's stock worth $13,629,000 after purchasing an additional 17,833 shares in the last quarter. Pinnacle Financial Partners Inc purchased a new position in shares of Lam Research in the 1st quarter worth approximately $201,000. Cookson Peirce & Co. Inc. bought a new position in shares of Lam Research in the first quarter valued at approximately $607,000. China Universal Asset Management Co. Ltd. increased its position in shares of Lam Research by 27.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 49,505 shares of the semiconductor company's stock valued at $3,607,000 after acquiring an additional 10,565 shares during the last quarter. Finally, First Citizens Bank & Trust Co. increased its position in shares of Lam Research by 47.8% during the first quarter. First Citizens Bank & Trust Co. now owns 121,902 shares of the semiconductor company's stock valued at $8,862,000 after acquiring an additional 39,414 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on LRCX. Needham & Company LLC boosted their price objective on Lam Research from $110.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Summit Insights lowered shares of Lam Research from a "buy" rating to a "hold" rating in a research report on Thursday, July 31st. Wells Fargo & Company set a $98.00 price objective on shares of Lam Research and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Stifel Nicolaus boosted their target price on shares of Lam Research from $92.00 to $110.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Finally, UBS Group raised their price target on shares of Lam Research from $95.00 to $120.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Twenty analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Lam Research presently has a consensus rating of "Moderate Buy" and a consensus price target of $109.39.

Lam Research Stock Performance

Shares of LRCX opened at $132.20 on Tuesday. Lam Research Corporation has a 12-month low of $56.32 and a 12-month high of $132.63. The company has a current ratio of 2.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.38. The company has a market cap of $166.71 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 1.63 and a beta of 1.76. The stock has a 50-day moving average price of $104.01 and a 200-day moving average price of $88.78.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.12. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The business had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same period last year, the firm posted $1.03 earnings per share. Lam Research's quarterly revenue was up 33.6% on a year-over-year basis. Lam Research has set its Q1 2026 guidance at 1.100-1.300 EPS. As a group, equities analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 24th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, September 24th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from Lam Research's previous quarterly dividend of $0.23. Lam Research's payout ratio is presently 22.12%.

Lam Research Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.

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