Myriad Asset Management Advisors LLC Reduces Position in Lam Research Corporation $LRCX

Key Points

• Myriad Asset Management Advisors cut its Lam Research position by 26.5% in the second quarter, selling 3,395 shares and retaining 9,437 shares valued at approximately $4.09 million.
• Lam Research insiders sold 80,441 shares worth $27.6 million over the past three months, including sizable sales by Director Eric Brandt and SVP Neil J. Fernandes, both conducted under pre-arranged Rule 10b5-1 plans.
• Wall Street remains broadly positive, with a “Moderate Buy” consensus rating and an average price target of $358.47. The company recently beat quarterly earnings and revenue estimates, reporting $1.82 EPS and $6.72 billion in revenue, up 30% year over year.

Myriad Asset Management Advisors LLC trimmed its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 26.5% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 9,437 shares of the semiconductor company's stock after selling 3,395 shares during the quarter. Lam Research comprises approximately 1.0% of Myriad Asset Management Advisors LLC's portfolio, making the stock its 27th biggest position. Myriad Asset Management Advisors LLC's holdings in Lam Research were worth $4,089,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Bayban purchased a new stake in shares of Lam Research during the 4th quarter valued at about $26,000. Vermillion Wealth Management Inc. purchased a new position in shares of Lam Research during the first quarter valued at approximately $26,000. Cedar Mountain Advisors LLC raised its holdings in shares of Lam Research by 242.9% during the first quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 85 shares during the last quarter. Mcguire Capital Advisors Inc. bought a new position in Lam Research during the fourth quarter valued at approximately $27,000. Finally, Triumph Capital Management bought a new position in Lam Research during the third quarter valued at approximately $27,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Insiders Place Their Bets

In other news, Director Eric Brandt sold 54,500 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $350.80, for a total value of $19,118,600.00. Following the completion of the sale, the director directly owned 199,205 shares of the company's stock, valued at $69,881,114. This represents a 21.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 firm's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $309.60, for a total transaction of $2,371,226.40. Following the sale, the senior vice president owned 58,470 shares in the company, valued at $18,102,312. The trade was a 11.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 80,441 shares of company stock worth $27,614,296 over the last three months. 0.31% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on LRCX. Barclays reaffirmed an "overweight" rating and issued a $335.00 target price (up from $275.00) on shares of Lam Research in a research report on Thursday, June 11th. B. Riley Financial dropped their price target on Lam Research from $385.00 to $350.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Needham & Company LLC reaffirmed a "buy" rating and issued a $390.00 price objective on shares of Lam Research in a report on Thursday, July 30th. Stifel Nicolaus upped their price objective on Lam Research from $325.00 to $425.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Finally, Raymond James Financial set a $425.00 target price on Lam Research in a report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Lam Research presently has an average rating of "Moderate Buy" and a consensus target price of $358.47.

Lam Research Stock Up 3.5%

NASDAQ LRCX opened at $343.84 on Tuesday. The stock's 50-day moving average price is $339.85 and its 200-day moving average price is $284.31. The company has a quick ratio of 1.91, a current ratio of 2.63 and a debt-to-equity ratio of 0.30. Lam Research Corporation has a 52 week low of $94.11 and a 52 week high of $438.50. The company has a market capitalization of $430.25 billion, a P/E ratio of 59.69, a price-to-earnings-growth ratio of 1.32 and a beta of 1.84.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $1.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.69 by $0.13. The company had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.66 billion. Lam Research had a return on equity of 67.60% and a net margin of 31.27%.The firm's revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.33 EPS. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. On average, equities research analysts predict that Lam Research Corporation will post 9.32 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 17th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $1.04 annualized dividend and a yield of 0.3%. Lam Research's payout ratio is currently 18.06%.

About Lam Research

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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