State of Michigan Retirement System Reduces Holdings in Lam Research Corporation $LRCX

Key Points

• State of Michigan Retirement System trimmed its Lam Research stake by 2.0%, selling 7,400 shares and ending the quarter with 364,200 shares worth about $62.34 million.
• Lam Research beat Q3 estimates (EPS $1.47, revenue $5.84B) and issued strong AI-driven FY guidance, spurring multiple analyst price-target raises and buy ratings.
• Notable insider selling occurred recently—executives sold a combined 130,886 shares (~$29.66M) in the last three months—while institutional ownership remains high at about 84.61%.

State of Michigan Retirement System reduced its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 364,200 shares of the semiconductor company's stock after selling 7,400 shares during the quarter. State of Michigan Retirement System's holdings in Lam Research were worth $62,344,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of LRCX. PMV Capital Advisers LLC purchased a new position in shares of Lam Research during the fourth quarter worth about $25,000. Stance Capital LLC acquired a new stake in shares of Lam Research in the 3rd quarter valued at about $26,000. Triumph Capital Management acquired a new stake in shares of Lam Research in the 3rd quarter valued at about $27,000. Harbor Investment Advisory LLC grew its stake in Lam Research by 73.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 240 shares of the semiconductor company's stock worth $41,000 after buying an additional 102 shares during the last quarter. Finally, WealthCollab LLC increased its position in Lam Research by 29.3% during the fourth quarter. WealthCollab LLC now owns 243 shares of the semiconductor company's stock worth $42,000 after buying an additional 55 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Key Lam Research News

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

• Positive Sentiment: Q3 results beat expectations (EPS $1.47, revenue $5.84B) and management gave strong FY guidance tied to AI demand — investors view this as confirmation of a multi-year WFE upcycle. Earnings & press coverage
• Positive Sentiment: Major analysts have lifted price targets across the board (examples: TD Cowen $340, Susquehanna $385, JPMorgan $315, BofA $330), signaling upgraded revenue and margin forecasts driven by AI memory and logic chip spending. Analyst target upgrades
• Positive Sentiment: Several bank research notes reiterated buy/outperform ratings and sizable upside, reinforcing momentum and prompting institutional buyers to add exposure. Deutsche Bank price target raise
• Neutral Sentiment: Broad market action (Dow slip while Nasdaq gains) and strong moves in other chip names (Intel, AMD, Arm) contributed to sector flow into semiconductor-equipment names including LRCX. Market breadth coverage
• Neutral Sentiment: Not all firms moved to buy: a few kept neutral/equal-weight stances (e.g., Morgan Stanley, BNP Paribas), showing some analysts want to see more cycles of delivery before upgrading conviction. Morgan Stanley note
• Negative Sentiment: Valuation concerns: commentary and analysis warn the stock reflects a lot of AI upside already — some investors may view multiple and momentum as stretched, which could amplify pullbacks on any growth-slow surprises. Valuation caution analysis

Lam Research Stock Performance

Shares of Lam Research stock opened at $267.78 on Monday. Lam Research Corporation has a 52-week low of $68.53 and a 52-week high of $275.84. The company has a quick ratio of 1.77, a current ratio of 2.54 and a debt-to-equity ratio of 0.35. The company's 50-day simple moving average is $234.99 and its 200-day simple moving average is $198.63. The firm has a market cap of $334.88 billion, a price-to-earnings ratio of 50.52, a price-to-earnings-growth ratio of 2.27 and a beta of 1.78.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The semiconductor company reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.36 by $0.11. Lam Research had a net margin of 30.94% and a return on equity of 66.21%. The firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter last year, the firm earned $1.04 earnings per share. The firm's revenue was up 23.8% compared to the same quarter last year. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. As a group, equities research analysts anticipate that Lam Research Corporation will post 5.53 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 4th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, March 4th. Lam Research's dividend payout ratio (DPR) is currently 19.62%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on LRCX shares. Deutsche Bank Aktiengesellschaft increased their price objective on Lam Research from $300.00 to $325.00 and gave the company a "buy" rating in a report on Thursday. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $290.00 target price on shares of Lam Research in a report on Thursday. New Street Research increased their price target on shares of Lam Research from $140.00 to $235.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 31st. Erste Group Bank downgraded shares of Lam Research from a "buy" rating to a "hold" rating in a research report on Thursday, April 2nd. Finally, Rothschild & Co Redburn upped their target price on shares of Lam Research from $225.00 to $265.00 and gave the company a "buy" rating in a report on Friday, February 6th. Twenty-six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $284.49.

Insider Activity

In other Lam Research news, Director Eric Brandt sold 35,000 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $225.60, for a total value of $7,896,000.00. Following the completion of the transaction, the director owned 253,705 shares in the company, valued at approximately $57,235,848. This represents a 12.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Douglas R. Bettinger sold 50,057 shares of the firm's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $224.03, for a total value 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 130,886 shares of company stock valued at $29,658,802 in the last three months. 0.31% of the stock is currently owned by company insiders.

Lam Research 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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