Envestnet Asset Management Inc. Acquires 99,166 Shares of Lam Research Corporation $LRCX

Envestnet Asset Management Inc. boosted its holdings in shares of Lam Research Corporation (NASDAQ:LRCX) by 3.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,958,917 shares of the semiconductor company’s stock after acquiring an additional 99,166 shares during the period. Envestnet Asset Management Inc. owned 0.24% of Lam Research worth $1,282,183,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Andra AP fonden lifted its holdings in shares of Lam Research by 6.0% during the second quarter. Andra AP fonden now owns 189,539 shares of the semiconductor company’s stock valued at $82,133,000 after purchasing an additional 10,800 shares during the last quarter. State Street Corp grew its stake in shares of Lam Research by 2.6% in the 2nd quarter. State Street Corp now owns 60,704,130 shares of the semiconductor company’s stock worth $26,320,468,000 after buying an additional 1,545,830 shares during the last quarter. Security National Bank of Sioux City Iowa IA increased its position in Lam Research by 24.9% during the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 15,734 shares of the semiconductor company’s stock valued at $6,818,000 after buying an additional 3,140 shares in the last quarter. Wellington Altus USA Inc. increased its position in Lam Research by 39.3% during the 2nd quarter. Wellington Altus USA Inc. now owns 1,686 shares of the semiconductor company’s stock valued at $731,000 after buying an additional 476 shares in the last quarter. Finally, Smith Chas P & Associates PA Cpas purchased a new position in Lam Research during the second quarter valued at $280,000. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of NASDAQ:LRCX traded down $3.68 during midday trading on Wednesday, reaching $307.28. 9,124,912 shares of the company’s stock traded hands, compared to its average volume of 10,898,841. The company has a market cap of $384.51 billion, a price-to-earnings ratio of 53.35, a P/E/G ratio of 1.20 and a beta of 1.85. 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 Corporation has a one year low of $125.02 and a one year high of $438.50. The stock has a 50 day moving average of $305.28 and a 200 day moving average of $296.62.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.69 by $0.13. Lam Research had a return on equity of 67.60% and a net margin of 31.27%.The company had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.66 billion. During the same period last year, the company earned $1.33 EPS. Lam Research’s revenue for the quarter was up 30.0% on a year-over-year basis. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. As a group, equities research analysts anticipate that Lam Research Corporation will post 9.33 EPS for the current fiscal year.

Lam Research Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 23rd will be paid a $0.33 dividend. This is a boost from Lam Research’s previous quarterly dividend of $0.26. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Wednesday, September 23rd. Lam Research’s dividend payout ratio (DPR) is presently 18.06%.

Insider Transactions at Lam Research

In other news, Director Abhijit Talwalkar sold 18,282 shares of the business’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $335.00, for a total transaction of $6,124,470.00. Following the completion of the transaction, the director directly owned 87,142 shares of the company’s stock, valued at $29,192,570. The trade was a 17.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 9,557 shares of the stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the transaction, the director owned 20,995 shares in the company, valued at approximately $6,607,966.30. This trade represents a 31.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 32,839 shares of company stock worth $10,644,740 over the last three months. 0.31% of the stock is currently owned by company insiders.

Analyst Ratings Changes

LRCX has been the topic of several analyst reports. Rothschild & Co Redburn boosted their target price on Lam Research from $305.00 to $420.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Cantor Fitzgerald set a $500.00 price target on Lam Research and gave the stock an “overweight” rating in a research report on Monday, June 29th. Oppenheimer reissued an “outperform” rating and set a $400.00 price objective (up from $330.00) on shares of Lam Research in a research report on Monday, June 15th. Bank of America raised their price objective on shares of Lam Research from $330.00 to $480.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $390.00 target price on shares of Lam Research in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $361.81.

Lam Research Company Profile

Lam Research Corporation is a semiconductor equipment company that develops and manufactures systems used in the fabrication of integrated circuits. Its equipment supports key wafer-processing steps, including deposition, etch, wafer cleaning, and related processes used to create and connect the microscopic features found on semiconductor devices.

The company serves semiconductor manufacturers producing a range of products, including memory, logic, and specialty chips. In addition to manufacturing equipment, Lam Research provides installation, maintenance, spare parts, upgrades, technical support, and other services intended to help customers operate and improve their fabrication facilities.

Founded in 1980, Lam Research is headquartered in Fremont, California, and serves customers through a global network of offices, engineering facilities, and support operations.