Neil Fernandes Sells 7,659 Shares of Lam Research (NASDAQ:LRCX) Stock

Key Points

• Lam Research SVP Neil Fernandes sold 7,659 shares on June 1 at an average price of $309.60, totaling about $2.37 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and he still holds 58,470 shares.
• Lam Research’s stock was trading near its highs, rising to $330.54, close to the 12-month high of $333.33. The company also has a market cap of about $413.36 billion and has posted strong recent performance.
• The company recently reported better-than-expected quarterly results, with EPS of $1.47 versus $1.36 expected and revenue of $5.84 billion, up 23.8% year over year. Lam Research also announced a quarterly dividend of $0.26 per share, payable July 8.

Lam Research Corporation (NASDAQ:LRCX - Get Free Report) SVP Neil Fernandes sold 7,659 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $309.60, for a total transaction of $2,371,226.40. Following the transaction, the senior vice president directly owned 58,470 shares in the company, valued at approximately $18,102,312. The trade was a 11.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lam Research Price Performance

Shares of LRCX stock traded up $13.42 during mid-day trading on Tuesday, hitting $330.54. 8,034,670 shares of the stock traded hands, compared to its average volume of 8,769,062. Lam Research Corporation has a twelve month low of $80.43 and a twelve month high of $333.33. The firm has a market cap of $413.36 billion, a price-to-earnings ratio of 61.13, a price-to-earnings-growth ratio of 2.63 and a beta of 1.85. The company's 50-day simple moving average is $265.55 and its 200-day simple moving average is $222.29. 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 (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.11. Lam Research had a return on equity of 66.21% and a net margin of 30.94%.The company had revenue of $5.84 billion for the quarter, compared to analysts' expectations of $5.70 billion. During the same period last year, the firm earned $1.04 EPS. The firm's revenue for the quarter 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 research analysts expect that Lam Research Corporation will post 5.67 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.3%. Lam Research's payout ratio is 19.62%.

Institutional Trading of Lam Research

A number of institutional investors and hedge funds have recently made changes to their positions in LRCX. Norges Bank bought a new position in Lam Research during the fourth quarter valued at about $3,645,427,000. Price T Rowe Associates Inc. MD increased its stake in Lam Research by 352.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,695,210 shares of the semiconductor company's stock valued at $2,344,347,000 after acquiring an additional 10,666,540 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Lam Research by 781.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 11,340,865 shares of the semiconductor company's stock valued at $1,518,542,000 after acquiring an additional 10,053,978 shares during the period. Franklin Resources Inc. increased its stake in Lam Research by 57.0% during the fourth quarter. Franklin Resources Inc. now owns 10,110,560 shares of the semiconductor company's stock valued at $1,730,724,000 after acquiring an additional 3,671,073 shares during the period. Finally, Corient Private Wealth LLC increased its stake in Lam Research by 235.5% during the fourth quarter. Corient Private Wealth LLC now owns 5,199,441 shares of the semiconductor company's stock valued at $890,040,000 after acquiring an additional 3,649,553 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on LRCX. Mizuho set a $380.00 target price on Lam Research and gave the company an "outperform" rating in a research note on Wednesday, May 27th. Seaport Research Partners began coverage on Lam Research in a research note on Monday, May 4th. They issued a "buy" rating and a $300.00 target price on the stock. Oppenheimer restated an "outperform" rating and issued a $330.00 target price on shares of Lam Research in a research note on Thursday, April 23rd. Zacks Research downgraded Lam Research from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 6th. Finally, Wall Street Zen downgraded Lam Research from a "buy" rating to a "hold" rating in a research note on Sunday, May 10th. Twenty-seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $303.30.

About Lam Research

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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