Westpac Banking Corp Reduces Stock Holdings in Lam Research Corporation $LRCX

Key Points

• Westpac Banking Corp cut its Lam Research stake by 26.1% in the first quarter, selling 7,047 shares and ending with 19,945 shares valued at about $4.26 million.
• Brokerages have turned increasingly bullish on Lam Research, with several firms raising price targets; the stock now carries a Moderate Buy consensus and a consensus target of $360.51.
• Lam Research recently posted strong quarterly results, beating EPS and revenue estimates, while also benefiting from positive sentiment around AI-driven semiconductor demand and advanced chip equipment spending.

Westpac Banking Corp lowered its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 26.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,945 shares of the semiconductor company's stock after selling 7,047 shares during the period. Westpac Banking Corp's holdings in Lam Research were worth $4,261,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bayban purchased a new stake in shares of Lam Research in the 4th quarter worth about $26,000. Vermillion Wealth Management Inc. bought a new stake in shares of Lam Research during the 1st quarter valued at about $26,000. Cedar Mountain Advisors LLC increased its position in shares of Lam Research by 242.9% during the first quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company's stock valued at $26,000 after buying an additional 85 shares during the period. Triumph Capital Management purchased a new position in shares of Lam Research during the third quarter valued at about $27,000. Finally, Mcguire Capital Advisors Inc. bought a new position in Lam Research in the fourth quarter worth about $27,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on LRCX. Wells Fargo & Company restated an "overweight" rating and issued a $450.00 price objective (up from $365.00) on shares of Lam Research in a report on Monday, June 22nd. Oppenheimer reiterated an "outperform" rating and set a $400.00 target price (up from $330.00) on shares of Lam Research in a report on Monday, June 15th. Rothschild & Co Redburn increased their target price on Lam Research from $305.00 to $420.00 and gave the stock a "buy" rating in a research report on Wednesday, June 17th. JPMorgan Chase & Co. raised their target price on Lam Research from $300.00 to $315.00 and gave the company an "overweight" rating in a research note on Thursday, April 23rd. Finally, Jefferies Financial Group lifted their price target on Lam Research from $285.00 to $315.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Lam Research currently has a consensus rating of "Moderate Buy" and a consensus price target of $360.51.

Key Stories Impacting Lam Research

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

• Positive Sentiment: Semiconductor stocks, including Lam Research, rebounded as dip buyers returned to the group following a sharp sector pullback, supported by continued enthusiasm for the AI investment cycle. Intel, KLA Corporation, Lam Research, Marvell Technology, and Micron Shares Skyrocket, What You Need To Know
• Positive Sentiment: Multiple articles described Lam Research as a solid growth stock and a potential earnings-surprise name, reinforcing bullish expectations for the company’s fundamentals. Looking for a Growth Stock? 3 Reasons Why Lam Research (LRCX) is a Solid Choice
• Positive Sentiment: Lam Research joined the AI Materials Foundry as a founding partner, which could strengthen its long-term role in advanced chip materials and next-generation semiconductor development. Lam Research (LRCX) Joins AI Materials Foundry To Help Shape Future Chip Materials
• Positive Sentiment: Industry outlook pieces continue to favor semiconductor equipment makers like LRCX, citing AI-driven demand for advanced chips, packaging, and memory. Zacks Industry Outlook Highlights Applied Materials, Lam Research and FormFactor
• Neutral Sentiment: Lam Research was cited among stocks likely to deliver earnings upside this season, but this was presented as a broad screen rather than company-specific new information. 4 Top-Ranked Tech Stocks Set to Beat Expectations This Earnings Season
• Neutral Sentiment: Lam Research was also noted as having a “Moderate Buy” consensus from brokerages, which supports the stock but does not by itself explain a sharp move. Lam Research Corporation NASDAQ: LRCX Given Consensus Recommendation of "Moderate Buy" by Brokerages
• Negative Sentiment: The stock recently fell more than the broader market in a prior session, reflecting lingering volatility after the semiconductor sector’s steep selloff. Lam Research (LRCX) Dips More Than Broader Market: What You Should Know

Insider Buying and Selling

In other Lam Research news, insider Ava Harter sold 6,010 shares of the business's stock in a transaction on Monday, April 27th. The stock was sold at an average price of $258.66, for a total value of $1,554,546.60. Following the sale, the insider directly owned 53,205 shares of the company's stock, valued at approximately $13,762,005.30. The trade was a 10.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eric Brandt sold 54,500 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $350.80, for a total value of $19,118,600.00. Following the completion of the sale, the director directly owned 199,205 shares in the company, valued at approximately $69,881,114. This represents a 21.48% 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 104,621 shares of company stock worth $33,804,737 in the last 90 days. Corporate insiders own 0.31% of the company's stock.

Lam Research Price Performance

Shares of LRCX opened at $322.00 on Wednesday. The stock has a market cap of $402.68 billion, a PE ratio of 60.75, a price-to-earnings-growth ratio of 1.82 and a beta of 1.80. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.77 and a current ratio of 2.54. Lam Research Corporation has a fifty-two week low of $90.93 and a fifty-two week high of $438.50. The firm's 50-day simple moving average is $340.44 and its two-hundred day simple moving average is $271.60.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter last year, the firm earned $1.04 earnings per share. The business's revenue for the quarter was up 23.8% on a year-over-year basis. Analysts anticipate that Lam Research Corporation will post 5.68 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th were paid a $0.26 dividend. The ex-dividend date was Wednesday, June 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.3%. Lam Research's dividend payout ratio is presently 19.62%.

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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