Lam Research (NASDAQ:LRCX) Shares Up 1.1% - Here's What Happened

Key Points

• Lam Research shares rose 1.1% to $310.53, despite trading volume running 46% below the average session level.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $358.47; recent targets range from $260 to $480.
• The company exceeded quarterly expectations, reporting $1.82 EPS and $6.72 billion in revenue, with revenue up 30% year over year. Institutional investors own 84.61% of the stock, while insiders have sold $27.6 million in shares over the past 90 days.

Shares of Lam Research Corporation (NASDAQ:LRCX - Get Free Report) shot up 1.1% during trading on Thursday . The company traded as high as $312.54 and last traded at $310.53. 6,014,746 shares were traded during trading, a decline of 46% from the average session volume of 11,216,807 shares. The stock had previously closed at $307.17.

Analyst Ratings Changes

Several brokerages have weighed in on LRCX. Seaport Research Partners started coverage on shares of Lam Research in a research report on Monday, May 4th. They set a "buy" rating and a $300.00 target price on the stock. Berenberg Bank boosted their price target on Lam Research from $265.00 to $335.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. Morgan Stanley lowered their price target on Lam Research from $404.00 to $367.00 and set an "overweight" rating on the stock in a report on Thursday, July 30th. BNP Paribas Exane raised their price objective on Lam Research from $250.00 to $260.00 and gave the company a "neutral" rating in a research note on Thursday, April 23rd. Finally, Bank of America upped their target price on Lam Research from $330.00 to $480.00 and gave the company a "buy" rating in a report on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Lam Research presently has a consensus rating of "Moderate Buy" and an average price target of $358.47.

Lam Research Trading Up 1.1%

The business has a 50-day moving average of $339.57 and a 200 day moving average of $285.35. The stock has a market cap of $388.57 billion, a PE ratio of 53.91, a PEG ratio of 1.30 and a beta of 1.84. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.91 and a current ratio of 2.63.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, July 29th. The semiconductor company reported $1.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.69 by $0.13. The company had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.66 billion. Lam Research had a net margin of 31.27% and a return on equity of 67.60%. The firm's quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.33 EPS. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. Equities research analysts predict that Lam Research Corporation will post 9.32 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Neil J. Fernandes sold 7,659 shares of the firm's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $309.60, for a total transaction of $2,371,226.40. Following the sale, the senior vice president owned 58,470 shares in the company, valued at $18,102,312. This trade represents a 11.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Abhijit Y. Talwalkar sold 18,282 shares of Lam Research stock in a transaction on Monday, July 13th. The shares were sold at an average price of $335.00, for a total value of $6,124,470.00. Following the completion of the sale, the director directly owned 87,142 shares of the company's stock, valued at approximately $29,192,570. This represents a 17.34% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 80,441 shares of company stock worth $27,614,296. 0.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LRCX. State Street Corp increased its position in Lam Research by 0.4% during the third quarter. State Street Corp now owns 59,817,352 shares of the semiconductor company's stock worth $8,024,684,000 after purchasing an additional 265,805 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Lam Research by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 33,747,368 shares of the semiconductor company's stock valued at $5,764,117,000 after purchasing an additional 126,613 shares during the last quarter. Invesco Ltd. grew its stake in shares of Lam Research by 7.7% during the 4th quarter. Invesco Ltd. now owns 22,821,354 shares of the semiconductor company's stock valued at $3,906,559,000 after buying an additional 1,638,406 shares during the period. Norges Bank acquired a new stake in shares of Lam Research during the 4th quarter worth $3,645,427,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Lam Research by 352.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,695,210 shares of the semiconductor company's stock worth $2,344,347,000 after buying an additional 10,666,540 shares during the period. Institutional investors and hedge funds 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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