Resona Asset Management Co. Ltd. Cuts Stock Position in Lam Research Corporation $LRCX

Key Points

• Resona Asset Management reduced its Lam Research stake by 4.9% in the fourth quarter, selling 21,419 shares and leaving it with 413,623 shares worth about $71.1 million.
• Lam Research reported better-than-expected quarterly results, posting EPS of $1.47 on revenue of $5.84 billion, while revenue rose 23.8% year over year.
• Analyst sentiment remains positive, with 27 Buy ratings and a consensus price target of $292.97, even as some insiders recently sold shares.

Resona Asset Management Co. Ltd. cut its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 413,623 shares of the semiconductor company's stock after selling 21,419 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Lam Research were worth $71,140,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of LRCX. Arrowstreet Capital Limited Partnership increased its stake in Lam Research by 781.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 11,340,865 shares of the semiconductor company's stock worth $1,518,542,000 after purchasing an additional 10,053,978 shares during the period. Invesco Ltd. increased its stake in Lam Research by 18.2% during the third quarter. Invesco Ltd. now owns 21,182,948 shares of the semiconductor company's stock worth $2,836,397,000 after purchasing an additional 3,263,658 shares during the period. California Public Employees Retirement System increased its stake in Lam Research by 108.7% during the third quarter. California Public Employees Retirement System now owns 4,526,099 shares of the semiconductor company's stock worth $606,045,000 after purchasing an additional 2,356,897 shares during the period. AQR Capital Management LLC increased its stake in Lam Research by 138.6% during the third quarter. AQR Capital Management LLC now owns 3,541,230 shares of the semiconductor company's stock worth $472,294,000 after purchasing an additional 2,056,749 shares during the period. Finally, M&T Bank Corp increased its stake in Lam Research by 1,925.5% during the fourth quarter. M&T Bank Corp now owns 1,717,551 shares of the semiconductor company's stock worth $294,010,000 after purchasing an additional 1,632,754 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Down 2.4%

LRCX stock opened at $277.96 on Tuesday. The company's 50 day moving average price is $247.50 and its 200 day moving average price is $211.98. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.77 and a current ratio of 2.54. The firm has a market capitalization of $347.61 billion, a price-to-earnings ratio of 52.45, a PEG ratio of 2.36 and a beta of 1.81. Lam Research Corporation has a fifty-two week low of $79.49 and a fifty-two week high of $302.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.11. The firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.70 billion. Lam Research had a return on equity of 66.21% and a net margin of 30.94%.The firm's quarterly revenue was up 23.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.04 earnings per share. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. On average, equities research analysts anticipate that Lam Research Corporation will post 5.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Rothschild & Co Redburn upped their target price on shares of Lam Research from $225.00 to $265.00 and gave the stock a "buy" rating in a research note on Friday, February 6th. Evercore upped their target price on shares of Lam Research from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd. Citigroup restated a "buy" rating and set a $315.00 target price (up from $300.00) on shares of Lam Research in a research note on Thursday, April 23rd. Susquehanna upped their target price on shares of Lam Research from $350.00 to $385.00 and gave the stock a "positive" rating in a research note on Thursday, April 23rd. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $320.00 target price on shares of Lam Research in a research note on Thursday, April 23rd. Twenty-seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Lam Research currently has a consensus rating of "Moderate Buy" and a consensus price target of $292.97.

Insider Activity at Lam Research

In related news, SVP Neil J. Fernandes sold 18,170 shares of the company's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $255.14, for a total value of $4,635,893.80. Following the completion of the transaction, the senior vice president directly owned 66,129 shares of the company's stock, valued at $16,872,153.06. This represents a 21.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ava Harter sold 6,010 shares of the company'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 of the company's stock, valued at $13,762,005.30. This trade represents a 10.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 120,066 shares of company stock valued at $27,953,242 over the last three months. 0.31% of the stock is owned by corporate insiders.

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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