PNC Financial Services Group Inc. Decreases Position in Lam Research Corporation $LRCX

Key Points

• PNC Financial Services Group cut its stake in Lam Research by 8.7% in the fourth quarter, selling 266,560 shares and ending with 2,789,723 shares worth about $477.5 million.
• Analyst sentiment remains generally bullish: several firms raised price targets, and the stock currently has a consensus rating of Moderate Buy with an average price target of $292.97.
• Lam Research reported stronger-than-expected quarterly results, with EPS of $1.47 on revenue of $5.84 billion, while management pointed to strong AI-related demand and record-quarter performance.

PNC Financial Services Group Inc. decreased its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 8.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,789,723 shares of the semiconductor company's stock after selling 266,560 shares during the period. PNC Financial Services Group Inc. owned about 0.22% of Lam Research worth $477,545,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its holdings in Lam Research by 781.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 11,340,865 shares of the semiconductor company's stock valued at $1,518,542,000 after acquiring an additional 10,053,978 shares in the last quarter. Invesco Ltd. grew its holdings in Lam Research by 18.2% during the 3rd quarter. Invesco Ltd. now owns 21,182,948 shares of the semiconductor company's stock worth $2,836,397,000 after acquiring an additional 3,263,658 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Lam Research by 108.7% in the 3rd quarter. California Public Employees Retirement System now owns 4,526,099 shares of the semiconductor company's stock valued at $606,045,000 after purchasing an additional 2,356,897 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Lam Research by 138.6% in the 3rd quarter. AQR Capital Management LLC now owns 3,541,230 shares of the semiconductor company's stock valued at $472,294,000 after purchasing an additional 2,056,749 shares during the last quarter. Finally, M&T Bank Corp raised its holdings in shares of Lam Research by 1,925.5% in the 4th quarter. M&T Bank Corp now owns 1,717,551 shares of the semiconductor company's stock valued at $294,010,000 after purchasing an additional 1,632,754 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analyst Ratings Changes

LRCX has been the subject of several recent analyst reports. Wall Street Zen cut shares of Lam Research from a "buy" rating to a "hold" rating in a research report on Sunday, May 10th. Stifel Nicolaus raised their price target on Lam Research from $300.00 to $325.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft lifted 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. The Goldman Sachs Group reaffirmed a "buy" rating and set a $290.00 price objective on shares of Lam Research in a research report on Thursday, April 23rd. Finally, Berenberg Bank increased their price objective on Lam Research from $265.00 to $335.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. Twenty-seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $292.97.

Insider Buying and Selling at Lam Research

In other Lam Research news, CFO Douglas R. Bettinger sold 50,057 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $224.03, for a total transaction of $11,214,269.71. Following the completion of the sale, the chief financial officer directly owned 1,081,705 shares of the company's stock, valued at approximately $242,334,371.15. This trade represents a 4.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ava Harter sold 6,010 shares of the business's stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $258.66, for a total value 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 120,066 shares of company stock valued at $27,953,242 in the last ninety days. Insiders own 0.31% of the company's stock.

Key Headlines Impacting Lam Research

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

• Positive Sentiment: Lam Research said its latest quarterly results benefited from strong AI-related demand, with management highlighting a “record quarter” and continued momentum in advanced chip spending. The earnings-call recap suggests investors are encouraged by the company’s role in the AI infrastructure buildout. Lam Research Rides AI Wave to Record Quarter
• Positive Sentiment: Morgan Stanley upgraded Lam Research, adding to the bullish analyst tone around the stock. Separately, B. Riley raised its price target to $385 from $350 and kept a Buy rating, citing AI investment that is accelerating faster than expected. Morgan Stanley upgrades Lam Research (LRCX)
• Positive Sentiment: More broadly, Morgan Stanley lifted its wafer fab equipment outlook and reshuffled ratings across semiconductor equipment names, reflecting expectations for a longer and stronger cycle, with improved NAND momentum supporting the group. Semicap stocks: Morgan Stanley raises WFE outlook and shifts ratings
• Neutral Sentiment: Reports that U.S.-China semiconductor talks may ease export and supply-chain tensions are also helping sentiment across chip equipment stocks, though the outcome remains uncertain. Potential Beijing Thaw Puts Lam Research Export And Supply Risks In Focus

Lam Research Stock Performance

Shares of Lam Research stock opened at $273.38 on Wednesday. The firm's fifty day simple moving average is $248.98 and its 200-day simple moving average is $212.77. Lam Research Corporation has a 12 month low of $79.49 and a 12 month high of $302.00. The stock has a market capitalization of $341.88 billion, a price-to-earnings ratio of 51.58, a PEG ratio of 2.30 and a beta of 1.81. 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 (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.11. Lam Research had a net margin of 30.94% and a return on equity of 66.21%. The company had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same period last year, the firm posted $1.04 EPS. Lam Research's revenue for the quarter was up 23.8% on a year-over-year basis. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. As a group, equities analysts forecast that Lam Research Corporation will post 5.67 earnings per share for the current year.

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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