TrustBank Makes New $537,000 Investment in Lam Research Corporation $LRCX

Key Points

• TrustBank opened a new position in Lam Research, buying 3,135 shares worth about $537,000 in the fourth quarter.
• Wall Street remains mostly bullish on LRCX, with several analysts raising price targets and the stock carrying a Moderate Buy consensus rating and an average target of $293.46.
• Lam Research reported strong quarterly results, beating earnings and revenue estimates, while the stock also hit a new 52-week high near $324 amid recent insider share sales.

TrustBank purchased a new stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,135 shares of the semiconductor company's stock, valued at approximately $537,000.

A number of other institutional investors have also recently made changes to their positions in LRCX. PMV Capital Advisers LLC purchased a new stake in shares of Lam Research during the fourth quarter valued at approximately $25,000. Stance Capital LLC purchased a new stake in shares of Lam Research during the third quarter valued at approximately $26,000. Triumph Capital Management purchased a new stake in shares of Lam Research during the third quarter valued at approximately $27,000. Strategic Wealth Investment Group LLC purchased a new stake in shares of Lam Research during the second quarter valued at approximately $29,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of Lam Research during the third quarter valued at approximately $40,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analyst Ratings Changes

LRCX has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of Lam Research from $300.00 to $325.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. B. Riley Financial raised their target price on shares of Lam Research from $350.00 to $375.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. Royal Bank Of Canada raised their target price on shares of Lam Research from $290.00 to $310.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. Sanford C. Bernstein raised their target price on shares of Lam Research from $325.00 to $340.00 and gave the stock an "outperform" rating in a report on Thursday, May 21st. Finally, Susquehanna raised their target price on shares of Lam Research from $350.00 to $385.00 and gave the stock a "positive" rating in a report on Thursday, April 23rd. Twenty-seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $293.46.

Insider Activity

In other news, 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 transaction of $11,214,269.71. Following the sale, the chief financial officer directly owned 1,081,705 shares in the company, valued at $242,334,371.15. This trade represents a 4.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Neil J. Fernandes sold 18,170 shares of the firm's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $255.14, for a total transaction of $4,635,893.80. Following the sale, the senior vice president owned 66,129 shares in the company, valued at $16,872,153.06. The trade was a 21.55% 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 have sold 120,066 shares of company stock worth $27,953,242 in the last three months. Company insiders own 0.31% of the company's stock.

Lam Research Stock Up 5.7%

LRCX opened at $322.68 on Wednesday. The company has a current ratio of 2.54, a quick ratio of 1.77 and a debt-to-equity ratio of 0.35. Lam Research Corporation has a 1-year low of $79.49 and a 1-year high of $323.98. The company has a market capitalization of $403.53 billion, a PE ratio of 60.88, a PEG ratio of 2.53 and a beta of 1.81. The firm's 50 day simple moving average is $258.19 and its two-hundred day simple moving average is $217.89.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.11. Lam Research had a net margin of 30.94% and a return on equity of 66.21%. The business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same period last year, the firm earned $1.04 earnings per share. The company's quarterly revenue was up 23.8% on a year-over-year basis. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. As a group, equities analysts forecast that Lam Research Corporation will post 5.67 EPS for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Wednesday, June 17th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Wednesday, June 17th. Lam Research's dividend payout ratio (DPR) is presently 19.62%.

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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