True North Advisors LLC Cuts Stake in Lam Research Corporation $LRCX

Key Points

• True North Advisors reduced its stake in Lam Research by 37.2% in Q4, selling 12,160 shares and retaining 20,523 shares valued at about $3.51 million per the latest 13F filing.
• Lam beat Q2 estimates, reporting $1.27 EPS vs. $1.17 expected and $5.34 billion in revenue (up 22.1% YoY), prompting analyst upgrades and higher price targets (e.g., Susquehanna to $350) that have helped lift the stock.
• Significant insider selling has occurred recently—insiders sold 130,886 shares worth roughly $29.66 million over the last 90 days (including the CFO's 50,057-share sale)—even as institutional ownership remains high at about 84.6%.

True North Advisors LLC reduced its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 37.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,523 shares of the semiconductor company's stock after selling 12,160 shares during the period. True North Advisors LLC's holdings in Lam Research were worth $3,513,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of LRCX. PMV Capital Advisers LLC purchased a new position in shares of Lam Research during the 4th quarter worth about $25,000. Stance Capital LLC purchased a new position in shares of Lam Research during the 3rd quarter worth about $26,000. Triumph Capital Management purchased a new position in shares of Lam Research during the 3rd quarter worth about $27,000. Strategic Wealth Investment Group LLC purchased a new position in shares of Lam Research during the 2nd quarter worth about $29,000. Finally, Delos Wealth Advisors LLC purchased a new position in shares of Lam Research during the 2nd quarter worth about $30,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Up 5.0%

LRCX opened at $258.76 on Friday. The firm has a 50 day moving average price of $227.04 and a 200 day moving average price of $188.03. The company has a market cap of $323.13 billion, a PE ratio of 53.02, a price-to-earnings-growth ratio of 2.63 and a beta of 1.78. Lam Research Corporation has a 1 year low of $61.14 and a 1 year high of $259.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.61 and a current ratio of 2.26.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, January 28th. The semiconductor company reported $1.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.17 by $0.10. The firm had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.23 billion. Lam Research had a net margin of 30.22% and a return on equity of 62.81%. The company's revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. Lam Research has set its Q3 2026 guidance at 1.250-1.450 EPS. Sell-side analysts expect that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 8th. Investors of record on Wednesday, March 4th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, March 4th. Lam Research's dividend payout ratio is 21.31%.

Insider Buying and Selling at Lam Research

In other Lam Research news, insider Ava Harter sold 1,500 shares of the 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 completion of the sale, the insider owned 53,205 shares of the company's stock, valued at $11,846,625.30. This trade represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Douglas R. Bettinger sold 50,057 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $224.03, for a total transaction 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 $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 over the last 90 days. 0.31% of the stock is owned by corporate insiders.

Lam Research News Summary

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

• Positive Sentiment: Susquehanna raised its price target to $350 and kept a "positive" rating — a clear near-term catalyst that boosts upside expectations and helps explain buying interest. Susquehanna price-target raise
• Positive Sentiment: Additional analyst support (Morgan Stanley and other upgrades) and coverage noting Lam's growth profile are driving momentum and inflows. Recent item-level upgrades pushed sentiment across the sell‑side more positive. Morgan Stanley forecast / analyst upgrades
• Positive Sentiment: Fundamentals supporting the rally: Q2 fiscal 2026 revenue beat and management commentary on AI-driven demand. Investors are treating Lam as a core beneficiary of stronger capex for advanced logic/AI chips. Q2 results and AI demand summary
• Neutral Sentiment: Valuation and momentum are in focus — multiple pieces reassess LRCX after a large one‑year run (questions about whether the rally is fully priced). That keeps trading volatile even as fundamentals look strong. Valuation analysis
• Neutral Sentiment: Broader market swings tied to geopolitical headlines (US–Iran ceasefire optimism ebbing) are creating mixed tape conditions for tech stocks; macro noise can amplify intra‑day moves in LRCX. Market context – US‑Iran ceasefire news
• Negative Sentiment: Significant insider selling has been reported (multiple executives selling sizable blocks), which some investors view as a cautionary sign despite institutional buying elsewhere. Insider selling details
• Negative Sentiment: Zacks downgraded LRCX from "strong-buy" to "hold," highlighting that not all research houses see further near-term upside and reinforcing the valuation risk narrative. Zacks downgrade

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LRCX. Oppenheimer reiterated an "outperform" rating and set a $265.00 price objective on shares of Lam Research in a report on Thursday, January 29th. Citigroup increased their price objective on shares of Lam Research from $265.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday, January 29th. Stifel Nicolaus increased their price objective on shares of Lam Research from $250.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday, January 29th. B. Riley Financial reissued a "buy" rating on shares of Lam Research in a research report on Thursday, January 15th. Finally, Barclays increased their target price on shares of Lam Research from $250.00 to $255.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 10th. Twenty-seven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $246.32.

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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