Teacher Retirement System of Texas Boosts Holdings in Lam Research Corporation $LRCX

Key Points

• Teacher Retirement System of Texas increased its stake in Lam Research by 10.2% to 628,708 shares (about $107.6M), while other institutions — notably M&T Bank — also materially boosted positions; institutional investors now own roughly 84.61% of the company.
• Lam Research beat Q3 expectations (non‑GAAP EPS $1.47 vs. $1.36; revenue $5.84B, +23.8% y/y) and set Q4 guidance of $1.50–$1.80 EPS with a revenue midpoint near $6.6B, prompting analysts to raise price targets and underpin a "Moderate Buy" consensus (avg. PT ~$247).
• Insiders have sold about 130,886 shares (~$29.66M) in the past 90 days and commentators warn of rally/valuation risk as the stock trades at a high P/E (~54.4), leaving potential for near‑term profit taking if growth slows.

Teacher Retirement System of Texas grew its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 10.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 628,708 shares of the semiconductor company's stock after purchasing an additional 58,262 shares during the period. Teacher Retirement System of Texas owned approximately 0.05% of Lam Research worth $107,622,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. West Michigan Advisors LLC raised its stake in shares of Lam Research by 99.0% during the fourth quarter. West Michigan Advisors LLC now owns 6,319 shares of the semiconductor company's stock valued at $1,083,000 after purchasing an additional 3,144 shares during the period. Caprock Group LLC raised its stake in shares of Lam Research by 14.7% during the fourth quarter. Caprock Group LLC now owns 60,934 shares of the semiconductor company's stock valued at $10,446,000 after purchasing an additional 7,817 shares during the period. Kingswood Wealth Advisors LLC raised its position in shares of Lam Research by 23.2% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 5,309 shares of the semiconductor company's stock valued at $909,000 after purchasing an additional 1,001 shares in the last quarter. M&T Bank Corp raised its position in shares of Lam Research by 1,925.5% in the 4th quarter. M&T Bank Corp now owns 1,717,551 shares of the semiconductor company's stock valued at $294,010,000 after purchasing an additional 1,632,754 shares in the last quarter. Finally, Global Trust Wealth Management LLC acquired a new position in shares of Lam Research in the 4th quarter valued at approximately $215,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Key Stories Impacting Lam Research

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

• Positive Sentiment: Q3 results beat and upbeat guidance — Lam reported $1.47 non‑GAAP EPS vs. $1.36 expected and $5.84B revenue (y/y +23.8%); management guided Q4 EPS to $1.50–1.80 and revenue midpoint (~$6.6B) above Street expectations, supporting a stronger near‑term revenue cadence. Lam Research Corporation Reports Financial Results for the Quarter Ended March 29, 2026
• Positive Sentiment: AI demand lifts outlook and broker lift — Analysts pointed to AI‑driven capacity additions as the catalyst; TD Cowen, BofA and others have raised price targets (examples include PTs to $330–$340), reinforcing buy-side momentum. Lam Research: Sustained Buy on Above-Consensus Growth, Market Share Gains, and Multi-Year WFE Upside
• Positive Sentiment: Market commentary and coverage — Multiple outlets highlight the beat and upgraded outlook (coverage includes quick takes and analyst notes), which is helping buying interest into the print. Lam Research (LRCX) Stock Surges on Strong Q3 Beat and Optimistic Outlook
• Neutral Sentiment: Conference materials & transcript now public — The earnings press release, slide deck and call transcript are available for investors who want to verify drivers (bookings, inventory trends, regional demand mix). View Press Release / Slide Deck
• Neutral Sentiment: Details available in the earnings call transcript — Useful for drilling into customer cadence, product mix and timing of WFE (wafer fab equipment) spending. Lam Research Corporation (LRCX) Q3 2026 Earnings Call Transcript
• Positive Sentiment: Program/partner wins — Coverage notes Lam’s participation in projects like Tesla’s Terafab, which could add multi‑year equipment demand if scaled. As Lam Research Joins the Tesla Terafab, Should You Buy, Sell, or Hold LRCX Stock?
• Negative Sentiment: Rally risk and valuation — Several commentators warn Lam faces an “earnings test” after a sharp run; valuation metrics (high P/E and stretched multiples) raise the risk of near‑term profit taking if growth decelerates. Lam Research faces earnings test after sharp rally

Insider Buying and Selling at Lam Research

In other Lam Research news, insider Ava Harter sold 1,500 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $222.66, for a total value of $333,990.00. Following the sale, the insider owned 53,205 shares in the company, valued at approximately $11,846,625.30. This trade represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric Brandt sold 35,000 shares of the firm's stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $225.60, for a total transaction of $7,896,000.00. Following the completion of the sale, the director owned 253,705 shares in the company, valued at $57,235,848. The trade was a 12.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 130,886 shares of company stock worth $29,658,802. 0.31% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LRCX. TD Cowen upped their target price on Lam Research from $170.00 to $290.00 and gave the company a "buy" rating in a research report on Thursday, January 29th. The Goldman Sachs Group set a $262.00 target price on Lam Research and gave the company a "buy" rating in a research report on Thursday, January 29th. HSBC upped their target price on Lam Research from $181.00 to $221.00 and gave the company a "hold" rating in a research report on Friday, January 30th. JPMorgan Chase & Co. upped their target price on Lam Research from $165.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, January 29th. Finally, B. Riley Financial reaffirmed a "buy" rating on shares of Lam Research in a research report on Monday. Twenty-seven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Lam Research currently has a consensus rating of "Moderate Buy" and an average price target of $247.26.

Lam Research Stock Performance

Shares of LRCX opened at $265.55 on Thursday. Lam Research Corporation has a 1 year low of $66.34 and a 1 year high of $273.50. The company has a market cap of $331.61 billion, a price-to-earnings ratio of 54.42, a price-to-earnings-growth ratio of 2.75 and a beta of 1.78. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.61 and a current ratio of 2.26. The firm has a fifty day moving average of $233.80 and a 200-day moving average of $196.58.

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 the consensus estimate of $1.36 by $0.11. Lam Research had a net margin of 30.22% and a return on equity of 62.81%. The company had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. The company's revenue for the quarter 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 analysts anticipate that Lam Research Corporation will post 5.3 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 4th were paid a $0.26 dividend. The ex-dividend date was Wednesday, March 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Lam Research's dividend payout ratio (DPR) is presently 21.31%.

About Lam Research

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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