Modera Wealth Management LLC Trims Stock Position in Lam Research Corporation $LRCX

Key Points

• Modera Wealth Management cut its Lam Research stake by 9.3% in the first quarter, selling 7,164 shares and leaving it with 70,011 shares valued at about $14.96 million.
• Insider selling has also been notable, including director Abhijit Y. Talwalkar and SVP Neil J. Fernandes, with insiders selling 104,621 shares worth roughly $33.8 million over the last 90 days.
• Lam Research reported better-than-expected quarterly results, with EPS of $1.47 and revenue of $5.84 billion, while analysts remain mostly positive with a consensus rating of Moderate Buy and an average price target of $358.67.

Modera Wealth Management LLC lessened its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 70,011 shares of the semiconductor company's stock after selling 7,164 shares during the quarter. Modera Wealth Management LLC's holdings in Lam Research were worth $14,959,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Brighton Jones LLC grew its stake in shares of Lam Research by 1,032.4% during the 4th quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock worth $1,025,000 after purchasing an additional 12,936 shares during the period. Caxton Associates LLP purchased a new position in shares of Lam Research during the 1st quarter valued at approximately $239,000. Gabelli Funds LLC acquired a new position in shares of Lam Research in the 2nd quarter valued at $253,000. NewEdge Advisors LLC lifted its stake in shares of Lam Research by 2.7% in the 2nd quarter. NewEdge Advisors LLC now owns 100,528 shares of the semiconductor company's stock valued at $9,785,000 after purchasing an additional 2,661 shares during the period. Finally, Osterweis Capital Management Inc. boosted its holdings in Lam Research by 5,206.7% during the second quarter. Osterweis Capital Management Inc. now owns 796 shares of the semiconductor company's stock worth $77,000 after buying an additional 781 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Insider Transactions at Lam Research

In other Lam Research news, Director Abhijit Y. Talwalkar sold 18,282 shares of the business's stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $335.00, for a total transaction of $6,124,470.00. Following the completion of the sale, the director directly owned 87,142 shares in the company, valued at approximately $29,192,570. The trade was a 17.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Neil J. Fernandes sold 7,659 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president directly owned 58,470 shares of the company's stock, valued at $18,102,312. The trade was a 11.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 104,621 shares of company stock valued at $33,804,737 in the last 90 days. Corporate insiders own 0.31% of the company's stock.

Lam Research Stock Performance

NASDAQ:LRCX opened at $313.30 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.77 and a current ratio of 2.54. The stock has a market capitalization of $391.80 billion, a PE ratio of 59.11, a P/E/G ratio of 1.90 and a beta of 1.80. Lam Research Corporation has a fifty-two week low of $90.93 and a fifty-two week high of $438.50. The company has a fifty day moving average of $339.57 and a two-hundred day moving average of $268.94.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.11. The business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.70 billion. Lam Research had a net margin of 30.94% and a return on equity of 66.21%. The company's revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.04 earnings per share. 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 fiscal year.

Lam Research Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently commented on LRCX. Weiss Ratings lowered shares of Lam Research from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, May 14th. TD Cowen reissued a "buy" rating and set a $400.00 target price (up from $340.00) on shares of Lam Research in a research note on Thursday, July 9th. UBS Group restated a "buy" rating and set a $375.00 target price (up from $310.00) on shares of Lam Research in a research report on Tuesday, June 9th. Rothschild & Co Redburn lifted their price target on Lam Research from $305.00 to $420.00 and gave the company a "buy" rating in a research note on Wednesday, June 17th. Finally, Citigroup reaffirmed a "buy" rating and issued a $450.00 price target (up from $315.00) on shares of Lam Research in a report on Wednesday, June 17th. Twenty-eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $358.67.

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.