Midwest Financial Group LLC Sells 3,900 Shares of Lam Research Corporation $LRCX

Key Points

• Midwest Financial Group LLC reduced its stake in Lam Research by 58.4% in the first quarter, selling 3,900 shares and leaving it with 2,776 shares worth about $593,000.
• Several analysts and news items remain constructive on the stock, including Wells Fargo raising its price target to $450 and maintaining an Overweight rating, while consensus brokerage sentiment stays at Moderate Buy.
• Lam Research recently posted strong quarterly results, with EPS of $1.47 beating estimates and revenue of $5.84 billion topping expectations, while also announcing a quarterly dividend of $0.26 per share.

Midwest Financial Group LLC cut its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 58.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,776 shares of the semiconductor company's stock after selling 3,900 shares during the quarter. Midwest Financial Group LLC's holdings in Lam Research were worth $593,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Greenup Street Wealth Management LLC grew its holdings in Lam Research by 1.8% during the 1st quarter. Greenup Street Wealth Management LLC now owns 2,433 shares of the semiconductor company's stock worth $520,000 after acquiring an additional 44 shares during the period. Triumph Capital Management lifted its stake in shares of Lam Research by 22.5% in the 4th quarter. Triumph Capital Management now owns 245 shares of the semiconductor company's stock valued at $42,000 after purchasing an additional 45 shares during the period. Traphagen Investment Advisors LLC lifted its stake in shares of Lam Research by 2.4% in the 4th quarter. Traphagen Investment Advisors LLC now owns 1,963 shares of the semiconductor company's stock valued at $336,000 after purchasing an additional 46 shares during the period. Bank of Jackson Hole Trust boosted its position in shares of Lam Research by 12.6% during the 4th quarter. Bank of Jackson Hole Trust now owns 428 shares of the semiconductor company's stock valued at $73,000 after purchasing an additional 48 shares in the last quarter. Finally, Field & Main Bank grew its stake in Lam Research by 1.1% during the fourth quarter. Field & Main Bank now owns 4,615 shares of the semiconductor company's stock worth $790,000 after purchasing an additional 50 shares during the period. Institutional investors own 84.61% of the company's stock.

Key Stories Impacting Lam Research

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

• Positive Sentiment: Wells Fargo raised its price target on Lam Research to $450 from $365 and kept an Overweight rating, signaling continued confidence in the company’s growth outlook and semiconductor capital equipment demand. Wells Fargo Raises its Price Target on Lam Research (LRCX)
• Positive Sentiment: Lam Research was highlighted by Zacks as a stock to watch, citing earnings growth and price strength, which may reinforce investor optimism around the stock’s momentum. Earnings Growth & Price Strength Make Lam Research (LRCX) a Stock to Watch
• Positive Sentiment: Micron’s strong earnings and upbeat memory-chip outlook lifted chip stocks broadly, while Lam Research gained attention for opening a Boise office to get closer to Micron’s memory expansion plans, underscoring its exposure to a key growth customer. Lam Research (LRCX) Opens Boise Office To Get Closer To Micron’s Memory Expansion
• Positive Sentiment: Lam Research was among the after-hours gainers alongside other semiconductor names, reflecting broader enthusiasm for AI chip stocks and improving sentiment across the sector. Top After-Hours Gainers Today Beyond Micron: QCOM, AMAT, LRCX Surge
• Neutral Sentiment: Brokerage data showed Lam Research with an average “Moderate Buy” recommendation, which supports a constructive but not especially new fundamental outlook. Lam Research Corporation NASDAQ: LRCX Receives Average Recommendation of "Moderate Buy" from Brokerages
• Neutral Sentiment: A report on short interest noted no meaningful short-interest build, so it does not appear to be a major driver for the stock.

Insider Transactions at Lam Research

In related news, SVP Neil J. Fernandes sold 7,659 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $309.60, for a total value of $2,371,226.40. Following the sale, the senior vice president owned 58,470 shares in the company, valued at $18,102,312. This represents a 11.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 firm's stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $258.66, for a total transaction of $1,554,546.60. Following the completion of the transaction, the insider directly owned 53,205 shares in the company, valued at approximately $13,762,005.30. The trade was a 10.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 86,339 shares of company stock valued at $27,680,267 over the last three months. Corporate insiders own 0.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on LRCX shares. Berenberg Bank lifted their target price on Lam Research from $265.00 to $335.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Erste Group Bank cut Lam Research from a "buy" rating to a "hold" rating in a report on Thursday, April 2nd. Susquehanna raised their price objective on shares of Lam Research from $350.00 to $385.00 and gave the stock a "positive" rating in a research report on Thursday, April 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Lam Research from $300.00 to $315.00 and gave the company an "overweight" rating in a research note on Thursday, April 23rd. Finally, BNP Paribas Exane boosted their target price on shares of Lam Research from $250.00 to $260.00 and gave the company a "neutral" rating in a research report on Thursday, April 23rd. Twenty-eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Lam Research has a consensus rating of "Moderate Buy" and an average price target of $334.43.

Lam Research Trading Down 5.7%

NASDAQ LRCX opened at $379.09 on Friday. The company has a market cap of $474.08 billion, a price-to-earnings ratio of 71.53, a P/E/G ratio of 3.12 and a beta of 1.85. Lam Research Corporation has a 52 week low of $90.93 and a 52 week high of $409.75. The business has a 50 day moving average price of $313.90 and a 200-day moving average price of $249.58. The company has a quick ratio of 1.77, a current ratio of 2.54 and a debt-to-equity ratio of 0.35.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its 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. The company had revenue of $5.84 billion for the quarter, compared to analysts' expectations of $5.70 billion. Lam Research had a return on equity of 66.21% and a net margin of 30.94%.Lam Research's quarterly revenue was up 23.8% compared to the same quarter last year. During the same period last year, the business earned $1.04 EPS. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. As a group, equities analysts expect that Lam Research Corporation will post 5.68 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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

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.

Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lam Research Corporation (NASDAQ:LRCX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.