SteelPeak Wealth LLC Sells 17,010 Shares of Lam Research Corporation $LRCX

Key Points

• SteelPeak Wealth LLC has reduced its stake in Lam Research Corporation (LRCX) by 40.4%, selling 17,010 shares, and now holds 25,054 shares valued at approximately $2.44 million.
• Major Wall Street firms, including Argus and UBS Group, have raised their price targets for Lam Research, with the average target now at $119.20, indicating a strong market outlook.
• Lam Research recently declared an increased quarterly dividend of $0.26, up from $0.23, reflecting a positive financial performance with 33.6% revenue growth year-over-year.

SteelPeak Wealth LLC decreased its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 40.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,054 shares of the semiconductor company's stock after selling 17,010 shares during the quarter. SteelPeak Wealth LLC's holdings in Lam Research were worth $2,444,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of LRCX. Brighton Jones LLC lifted its holdings in Lam Research by 1,032.4% in the fourth quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock valued at $1,025,000 after acquiring an additional 12,936 shares during the period. UMB Bank n.a. bought a new position in Lam Research in the first quarter valued at about $357,000. Park Avenue Securities LLC lifted its holdings in Lam Research by 5.8% in the first quarter. Park Avenue Securities LLC now owns 56,015 shares of the semiconductor company's stock valued at $4,072,000 after acquiring an additional 3,085 shares during the period. Moss Adams Wealth Advisors LLC lifted its holdings in Lam Research by 83.7% in the first quarter. Moss Adams Wealth Advisors LLC now owns 5,368 shares of the semiconductor company's stock valued at $391,000 after acquiring an additional 2,446 shares during the period. Finally, Portside Wealth Group LLC bought a new position in Lam Research in the first quarter valued at about $285,000. Institutional investors own 84.61% of the company's stock.

Wall Street Analyst Weigh In

LRCX has been the topic of several recent research reports. Argus raised their price objective on Lam Research from $105.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. UBS Group raised their price objective on Lam Research from $95.00 to $120.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Rothschild & Co Redburn raised their price objective on Lam Research from $115.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, October 1st. Wells Fargo & Company raised their price objective on Lam Research from $98.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 2nd. Finally, Oppenheimer raised their price objective on Lam Research from $110.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Twenty-three investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $119.20.

Lam Research Stock Down 5.9%

NASDAQ LRCX opened at $140.35 on Wednesday. The stock's 50 day moving average is $112.31 and its 200 day moving average is $93.32. The company has a current ratio of 2.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.38. Lam Research Corporation has a 12 month low of $56.32 and a 12 month high of $153.70. The stock has a market cap of $176.99 billion, a PE ratio of 33.74, a P/E/G ratio of 1.82 and a beta of 1.84.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results 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 return on equity of 58.17% and a net margin of 29.07%.The company had revenue of $5.17 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same period in the previous year, the firm earned $1.03 EPS. The firm's revenue was up 33.6% compared to the same quarter last year. Lam Research has set its Q1 2026 guidance at 1.100-1.300 EPS. Research analysts predict that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 24th will be issued 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 a boost from Lam Research's previous quarterly dividend of $0.23. Lam Research's payout ratio is presently 25.00%.

Lam Research Profile

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.

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