State Street Corp Grows Position in Lam Research Corporation $LRCX

Key Points

• State Street increased its Lam Research stake by 2.6% in the second quarter, bringing its holdings to 60.7 million shares, or 4.85% of the company. Institutional investors collectively own 84.61% of LRCX.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $361.81. Recent firms raised targets as high as $500.
• Lam Research exceeded quarterly earnings and revenue expectations, reporting $1.82 in adjusted EPS and $6.72 billion in revenue, while year-over-year revenue rose 30%. The company also raised its quarterly dividend to $0.33 from $0.26.

State Street Corp boosted its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,704,130 shares of the semiconductor company's stock after buying an additional 1,545,830 shares during the period. State Street Corp owned 4.85% of Lam Research worth $26,320,468,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Paladin Partners LLC acquired a new position in shares of Lam Research in the 2nd quarter valued at $26,000. Bravera Wealth acquired a new stake in Lam Research during the 2nd quarter worth $46,000. Cedar Mountain Advisors LLC boosted its stake in Lam Research by 242.9% during the 1st quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 85 shares during the period. Comprehensive Financial Planning Inc. PA purchased a new position in Lam Research during the 2nd quarter worth $52,000. Finally, Vermillion Wealth Management Inc. purchased a new position in Lam Research during the 1st quarter worth $26,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

LRCX has been the subject of a number of research reports. Cantor Fitzgerald set a $500.00 target price on shares of Lam Research and gave the company an "overweight" rating in a report on Monday, June 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $390.00 price objective on shares of Lam Research in a research note on Thursday, July 30th. Bank of America increased their price objective on Lam Research from $330.00 to $480.00 and gave the stock a "buy" rating in a research report on Tuesday, June 23rd. TD Cowen reissued a "buy" rating and issued a $400.00 target price (up from $340.00) on shares of Lam Research in a report on Thursday, July 9th. Finally, Barclays restated an "overweight" rating and set a $335.00 price target (up from $275.00) on shares of Lam Research in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Lam Research presently has a consensus rating of "Moderate Buy" and a consensus price target of $361.81.

Insider Activity

In other Lam Research news, Director Bethany Mayer sold 9,557 shares of the company's stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the transaction, the director directly owned 20,995 shares in the company, valued at approximately $6,607,966.30. This represents a 31.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ava Harter sold 5,000 shares of Lam Research stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $302.46, for a total transaction of $1,512,300.00. Following the sale, the insider owned 42,462 shares of the company's stock, valued at approximately $12,843,056.52. The trade was a 10.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 32,839 shares of company stock worth $10,644,740 in the last 90 days. 0.31% of the stock is currently owned by corporate insiders.

Lam Research Price Performance

Shares of LRCX traded up $4.12 during mid-day trading on Tuesday, hitting $306.40. The company's stock had a trading volume of 3,142,173 shares, compared to its average volume of 10,872,922. The company has a current ratio of 2.63, a quick ratio of 1.91 and a debt-to-equity ratio of 0.30. The firm has a 50-day simple moving average of $305.98 and a 200 day simple moving average of $296.00. The firm has a market capitalization of $383.40 billion, a P/E ratio of 53.19, a P/E/G ratio of 1.14 and a beta of 1.85. Lam Research Corporation has a 1-year low of $125.02 and a 1-year high of $438.50.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $1.82 earnings per share for the quarter, topping analysts' consensus estimates of $1.69 by $0.13. The firm had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.66 billion. Lam Research had a return on equity of 67.60% and a net margin of 31.27%.Lam Research's quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.33 earnings per share. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. Analysts predict that Lam Research Corporation will post 9.33 EPS for the current fiscal year.

Lam Research Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 23rd will be issued a $0.33 dividend. The ex-dividend date is Wednesday, September 23rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.4%. This is a boost from Lam Research's previous quarterly dividend of $0.26. Lam Research's payout ratio is 18.06%.

Lam Research Profile

Lam Research Corporation is a semiconductor equipment company that develops and manufactures systems used in the fabrication of integrated circuits. Its equipment supports key wafer-processing steps, including deposition, etch, wafer cleaning, and related processes used to create and connect the microscopic features found on semiconductor devices.

The company serves semiconductor manufacturers producing a range of products, including memory, logic, and specialty chips. In addition to manufacturing equipment, Lam Research provides installation, maintenance, spare parts, upgrades, technical support, and other services intended to help customers operate and improve their fabrication facilities.

Founded in 1980, Lam Research is headquartered in Fremont, California, and serves customers through a global network of offices, engineering facilities, and support operations.

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