Lam Research (NASDAQ:LRCX) Sets New 12-Month High - Here's What Happened

Key Points

• Lam Research shares hit a new 52-week high, trading as high as $300 and last changing hands around $296 after rising about 1% on the day.
• Recent analyst updates have been mostly positive, including higher price targets from Bank of America and New Street Research, with the stock holding a Moderate Buy consensus and an average target of $285.94.
• The company’s latest earnings beat expectations, with EPS of $1.47 on revenue of $5.84 billion, while insider selling and strong institutional ownership were also noted.

Lam Research Corporation (NASDAQ:LRCX - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as $300.00 and last traded at $296.0690, with a volume of 724265 shares changing hands. The stock had previously closed at $294.05.

Analyst Ratings Changes

Several research firms have recently weighed in on LRCX. New Street Research raised their price objective on shares of Lam Research from $235.00 to $280.00 and gave the company a "neutral" rating in a research report on Monday, April 27th. Summit Insights upgraded shares of Lam Research from a "hold" rating to a "buy" rating in a report on Thursday, January 29th. Bank of America raised their target price on shares of Lam Research from $285.00 to $330.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Needham & Company LLC reiterated a "buy" rating and issued a $300.00 target price on shares of Lam Research in a report on Thursday, April 23rd. Finally, Wall Street Zen cut shares of Lam Research from a "buy" rating to a "hold" rating in a report on Sunday. Twenty-six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, Lam Research has a consensus rating of "Moderate Buy" and an average price target of $285.94.

Lam Research Trading Up 1.0%

The company has a current ratio of 2.54, a quick ratio of 1.77 and a debt-to-equity ratio of 0.35. The company has a market cap of $371.40 billion, a PE ratio of 56.03, a P/E/G ratio of 2.43 and a beta of 1.81. The business's 50-day simple moving average is $238.93 and its 200-day simple moving average is $204.97.

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

Insider Buying and Selling at Lam Research

In other Lam Research news, CFO Douglas R. Bettinger sold 50,057 shares of Lam Research stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $224.03, for a total value of $11,214,269.71. Following the completion of the sale, the chief financial officer directly owned 1,081,705 shares in the company, valued at $242,334,371.15. The trade was a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ava Harter sold 6,010 shares of Lam Research stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $258.66, for a total transaction of $1,554,546.60. Following the completion of the transaction, the insider directly owned 53,205 shares in the company, valued at approximately $13,762,005.30. This represents a 10.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 120,066 shares of company stock worth $27,953,242 over the last ninety days. 0.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lam Research

A number of institutional investors have recently modified their holdings of LRCX. PMV Capital Advisers LLC bought a new position in shares of Lam Research in the fourth quarter valued at approximately $25,000. Stance Capital LLC bought a new position in shares of Lam Research in the third quarter valued at approximately $26,000. Bayban bought a new position in shares of Lam Research in the fourth quarter valued at approximately $26,000. Vermillion Wealth Management Inc. bought a new position in shares of Lam Research in the first quarter valued at approximately $26,000. Finally, Cedar Mountain Advisors LLC raised its position in shares of Lam Research by 242.9% in the first quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 85 shares during the period. Institutional investors own 84.61% of the company's stock.

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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