Oak Thistle LLC Sells 15,967 Shares of Lam Research Corporation $LRCX

Key Points

• Oak Thistle LLC cut its Lam Research stake by 51.9% in the second quarter, selling 15,967 shares and retaining 14,782 shares valued at approximately $6.4 million.
• Lam Research reported strong quarterly results, with EPS of $1.82 beating estimates of $1.69 and revenue rising 30% year over year to $6.72 billion.
• Analysts remain broadly bullish, assigning the stock a consensus “Moderate Buy” rating and an average price target of $358.47, while institutional investors own 84.61% of the company.

Oak Thistle LLC trimmed its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 51.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,782 shares of the semiconductor company's stock after selling 15,967 shares during the period. Lam Research makes up approximately 0.6% of Oak Thistle LLC's holdings, making the stock its 21st biggest holding. Oak Thistle LLC's holdings in Lam Research were worth $6,405,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of LRCX. State Street Corp lifted its holdings in shares of 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 purchasing an additional 265,805 shares during the last quarter. Geode Capital Management LLC grew its stake in Lam Research by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 33,747,368 shares of the semiconductor company's stock worth $5,764,117,000 after buying an additional 126,613 shares during the last quarter. Invesco Ltd. grew its stake in Lam Research by 7.7% during the 4th quarter. Invesco Ltd. now owns 22,821,354 shares of the semiconductor company's stock worth $3,906,559,000 after buying an additional 1,638,406 shares during the last quarter. Norges Bank acquired a new position in Lam Research during the 4th quarter valued at about $3,645,427,000. Finally, Price T Rowe Associates Inc. MD increased its position in Lam Research by 352.2% during the 4th 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 buying an additional 10,666,540 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $307.17 on Thursday. Lam Research Corporation has a 52 week low of $94.11 and a 52 week high of $438.50. The business's 50 day moving average price is $339.57 and its 200 day moving average price is $285.35. The company has a quick ratio of 1.91, a current ratio of 2.63 and a debt-to-equity ratio of 0.30. The firm has a market cap of $384.37 billion, a P/E ratio of 53.33, a P/E/G ratio of 1.30 and a beta of 1.84.

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

Insider Buying and Selling at Lam Research

In other news, Director Abhijit Y. Talwalkar sold 18,282 shares of the firm's stock in a transaction dated 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 sale, the director directly owned 87,142 shares in the company, valued at $29,192,570. This trade represents a 17.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Brandt sold 54,500 shares of Lam Research stock in a transaction dated 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 transaction, the director owned 199,205 shares of the company's stock, valued at approximately $69,881,114. This represents a 21.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 80,441 shares of company stock valued at $27,614,296. Corporate insiders own 0.31% of the company's stock.

Analysts Set New Price Targets

LRCX has been the subject of a number of research analyst reports. Mizuho raised their price target on Lam Research from $380.00 to $400.00 and gave the stock an "outperform" rating in a report on Thursday, July 9th. Royal Bank Of Canada upped their price objective on shares of Lam Research from $290.00 to $310.00 and gave the company an "outperform" rating in a report on Thursday, April 23rd. Barclays reaffirmed an "overweight" rating and issued a $335.00 price objective (up from $275.00) on shares of Lam Research in a research report on Thursday, June 11th. Seaport Research Partners initiated coverage on shares of Lam Research in a research note on Monday, May 4th. They issued a "buy" rating and a $300.00 target price for the company. Finally, Bank of America boosted their target price on shares of Lam Research from $330.00 to $480.00 and gave the stock a "buy" rating in a research report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $358.47.

Lam Research Company 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.

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