Precedent Wealth Partners LLC Increases Stake in Lam Research Corporation $LRCX

Key Points

• Precedent Wealth Partners LLC increased its stake in Lam Research Corporation by 13.3% in Q2, holding 32,568 shares valued at approximately $3.17 million.
• Wells Fargo raised its price target for Lam Research from $98 to $135, while B. Riley set a new price target of $160, both reflecting positive analyst sentiment.
• Lam Research announced a quarterly dividend increase, raising it from $0.23 to $0.26, equating to an annual yield of 0.7% and a payout ratio of 25%.

Precedent Wealth Partners LLC lifted its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 13.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,568 shares of the semiconductor company's stock after purchasing an additional 3,811 shares during the quarter. Precedent Wealth Partners LLC's holdings in Lam Research were worth $3,170,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smallwood Wealth Investment Management LLC purchased a new position in shares of Lam Research in the 1st quarter valued at approximately $26,000. 1 North Wealth Services LLC purchased a new position in shares of Lam Research in the 1st quarter valued at approximately $36,000. Rossby Financial LCC purchased a new position in shares of Lam Research in the 1st quarter valued at approximately $37,000. Saudi Central Bank purchased a new position in shares of Lam Research in the 1st quarter valued at approximately $37,000. Finally, Hilltop National Bank purchased a new position in shares of Lam Research in the 2nd quarter valued at approximately $38,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LRCX has been the topic of several research reports. Wells Fargo & Company increased their price target on shares of Lam Research from $98.00 to $135.00 and gave the stock an "equal weight" rating in a report on Thursday. Wall Street Zen upgraded shares of Lam Research from a "hold" rating to a "buy" rating in a report on Saturday. B. Riley increased their price target on shares of Lam Research from $130.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Cantor Fitzgerald increased their price target on shares of Lam Research from $120.00 to $155.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Hsbc Global Res upgraded shares of Lam Research to a "hold" rating in a report on Tuesday. Twenty-three equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $119.20.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $145.81 on Friday. The stock has a market capitalization of $183.87 billion, a price-to-earnings ratio of 35.05, a PEG ratio of 1.79 and a beta of 1.84. Lam Research Corporation has a 12 month low of $56.32 and a 12 month high of $147.91. The firm's 50 day simple moving average is $110.47 and its 200-day simple moving average is $92.27. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 1.55.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.21 by $0.12. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The business had revenue of $5.17 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter last year, the company earned $1.03 EPS. The business's revenue was up 33.6% on a year-over-year basis. Lam Research has set its Q1 2026 guidance at 1.100-1.300 EPS. Analysts expect that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 24th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, September 24th. This represents a $1.04 dividend on an annualized basis and a yield of 0.7%. This is an increase from Lam Research's previous quarterly dividend of $0.23. Lam Research's dividend payout ratio is 25.00%.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.