Oak Associates Ltd. OH Trims Position in Lam Research Corporation $LRCX

Key Points

• Oak Associates Ltd. OH cut its Lam Research stake by 19.2% in the first quarter, selling 10,617 shares and ending with 44,821 shares valued at about $9.6 million.
• Despite that trim, institutional ownership remains very high, with hedge funds and other institutions holding 84.61% of Lam Research shares. Several large firms, including State Street and Geode Capital, also increased positions recently.
• Analyst sentiment is broadly positive: multiple firms raised price targets, and the consensus rating is “Moderate Buy” with an average target price of $360.51. The stock also beat last quarter’s earnings and revenue estimates, though insiders have recently sold shares.

Oak Associates Ltd. OH decreased its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 19.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 44,821 shares of the semiconductor company's stock after selling 10,617 shares during the period. Oak Associates Ltd. OH's holdings in Lam Research were worth $9,576,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. State Street Corp raised its stake in Lam Research by 0.4% during the 3rd quarter. State Street Corp now owns 59,817,352 shares of the semiconductor company's stock valued at $8,024,684,000 after acquiring an additional 265,805 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Lam Research by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 33,747,368 shares of the semiconductor company's stock valued at $5,764,117,000 after purchasing an additional 126,613 shares during the last quarter. Invesco Ltd. grew its stake in shares of Lam Research by 7.7% in the 4th quarter. Invesco Ltd. now owns 22,821,354 shares of the semiconductor company's stock valued at $3,906,559,000 after purchasing an additional 1,638,406 shares during the last quarter. Norges Bank acquired a new position in shares of Lam Research in the fourth quarter valued at approximately $3,645,427,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Lam Research by 352.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,695,210 shares of the semiconductor company's stock valued at $2,344,347,000 after purchasing an additional 10,666,540 shares during the period. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research News Summary

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

• Positive Sentiment: Lam Research is being highlighted as one of the semiconductor names likely to benefit from the ongoing AI infrastructure buildout, with investors continuing to favor chip equipment companies tied to advanced manufacturing. Billionaire Investor Philippe Laffont's Top 5 Tech Picks
• Positive Sentiment: Recent coverage says Lam Research heads into its next earnings report with the ingredients for a possible beat, suggesting expectations are constructive ahead of results. Lam Research (LRCX) Earnings Expected to Grow: What to Know Ahead of Next Week's Release
• Positive Sentiment: Wall Street’s generally bullish view on Lam Research is another supportive factor, with analyst sentiment implying confidence in the company’s longer-term fundamentals. Is It Worth Investing in Lam Research (LRCX) Based on Wall Street's Bullish Views?
• Neutral Sentiment: Lam Research recently joined the AI Materials Foundry as a founding partner, reinforcing its AI relevance, but the article also notes that the stock has cooled recently after a strong run. Lam Research (LRCX) Following AI Materials Foundry Move Looks About Right
• Neutral Sentiment: Broader semiconductor optimism remains intact, with semiconductor ETFs up sharply this year and investors watching Intel’s earnings as a read-through for the group. Semiconductor ETFs Surge Ahead of Intel Earnings
• Negative Sentiment: Some market commentary points to profit-taking in technology stocks ahead of major earnings releases, which can weigh on sentiment across the semiconductor sector, including Lam Research. Nasdaq slips and Dow climbs as investors brace for big tech earnings, Super Micro surges

Analyst Upgrades and Downgrades

LRCX has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft increased their price target on Lam Research from $300.00 to $325.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Susquehanna reissued a "positive" rating and issued a $475.00 price objective (up from $385.00) on shares of Lam Research in a research note on Tuesday, June 30th. Sanford C. Bernstein upped their price objective on shares of Lam Research from $325.00 to $340.00 and gave the stock an "outperform" rating in a research report on Thursday, May 21st. Bank of America raised their target price on shares of Lam Research from $330.00 to $480.00 and gave the stock a "buy" rating in a research note on Tuesday, June 23rd. Finally, Barclays reaffirmed an "overweight" rating and issued a $335.00 target price (up from $275.00) on shares of Lam Research in a report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $360.51.

Lam Research Stock Up 0.2%

Lam Research stock opened at $319.78 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.54 and a quick ratio of 1.77. Lam Research Corporation has a 1-year low of $90.93 and a 1-year high of $438.50. The company has a market cap of $399.91 billion, a PE ratio of 60.34, a price-to-earnings-growth ratio of 1.90 and a beta of 1.80. The stock's 50 day moving average price is $341.33 and its 200 day moving average price is $273.59.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share for the quarter, topping analysts' consensus estimates of $1.36 by $0.11. The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.04 earnings per share. On average, sell-side analysts predict that Lam Research Corporation will post 5.68 EPS for the current fiscal year.

Lam Research Dividend Announcement

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

Insider Activity at Lam Research

In other news, insider Ava Harter sold 6,010 shares of the company's stock in a transaction on 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 transaction, the insider directly owned 53,205 shares of the company's stock, valued at $13,762,005.30. This represents a 10.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Abhijit Y. Talwalkar sold 18,282 shares of the stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $335.00, for a total transaction of $6,124,470.00. Following the completion of the transaction, the director owned 87,142 shares of the company's stock, valued at $29,192,570. This represents a 17.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 104,621 shares of company stock valued at $33,804,737. Company insiders own 0.31% of the company's stock.

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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