Lam Research Corporation $LRCX Stock: Providence First Trust Co Decreases Stake

Providence First Trust Co cut its holdings in shares of Lam Research Corporation (NASDAQ:LRCX) by 42.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,319 shares of the semiconductor company’s stock after selling 3,157 shares during the period. Providence First Trust Co’s holdings in Lam Research were worth $1,419,000 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. CenterBook Partners LP increased its position in shares of Lam Research by 582.2% during the third quarter. CenterBook Partners LP now owns 24,000 shares of the semiconductor company’s stock valued at $7,884,000 after acquiring an additional 20,482 shares during the last quarter. International Assets Investment Management LLC raised its position in Lam Research by 2.3% in the third quarter. International Assets Investment Management LLC now owns 6,984 shares of the semiconductor company’s stock worth $2,375,000 after acquiring an additional 159 shares during the period. Heritage Family Offices LLP boosted its stake in Lam Research by 8.4% in the third quarter. Heritage Family Offices LLP now owns 1,798 shares of the semiconductor company’s stock valued at $591,000 after acquiring an additional 139 shares during the last quarter. Allegiance Financial Group Advisory Services LLC grew its position in shares of Lam Research by 12.1% during the 3rd quarter. Allegiance Financial Group Advisory Services LLC now owns 1,251 shares of the semiconductor company’s stock valued at $411,000 after acquiring an additional 135 shares during the period. Finally, Calamos Wealth Management LLC grew its position in shares of Lam Research by 2.3% during the 3rd quarter. Calamos Wealth Management LLC now owns 44,872 shares of the semiconductor company’s stock valued at $14,741,000 after acquiring an additional 1,010 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analysts Set New Price Targets

LRCX has been the topic of a number of research reports. Needham & Company LLC lowered their price target on shares of Lam Research from $390.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, October 22nd. Morgan Stanley set a $339.00 target price on Lam Research and gave the company an “overweight” rating in a research note on Thursday, October 22nd. Berenberg Bank set a $420.00 price target on Lam Research in a research report on Wednesday, September 9th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $375.00 price objective on shares of Lam Research in a research note on Monday, October 19th. Finally, Bank of America reiterated a “buy” rating and set a $345.00 target price on shares of Lam Research in a research report on Thursday, October 22nd. Twenty-six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and an average target price of $360.23.

Insiders Place Their Bets

In other news, Director Bethany Mayer sold 9,557 shares of the stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the transaction, the director directly owned 20,995 shares in the company, valued at approximately $6,607,966.30. This represents a 31.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ava Harter sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $302.46, for a total value of $1,512,300.00. Following the transaction, the insider directly owned 42,462 shares in the company, valued at approximately $12,843,056.52. This represents a 10.53% 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. 0.31% of the stock is owned by corporate insiders.

Key Stories Impacting Lam Research

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

• Positive Sentiment: The authorization allows Lam Research to repurchase up to about 9% of its shares. Investors may view the plan as a sign of management confidence and a potential source of support for per-share earnings. Lam Research Shares Gain on $25 Billion Buyback Authorization
• Positive Sentiment: The company also declared a quarterly dividend of $0.33 per share, payable January 6 to shareholders of record December 2. Lam Research Corporation Announces $25 Billion Share Repurchase Authorization and Declares Quarterly Dividend
• Neutral Sentiment: The buyback has drawn attention to LRCX’s significant presence in semiconductor, technology and Nasdaq-100 funds; overlapping holdings could amplify the stock’s effect on investors’ portfolios in either direction. Own a Semiconductor ETF? Lam Research’s Buyback Move Affects You
• Negative Sentiment: Broader chip-sector volatility remains a risk: recent coverage cited concerns about AI-related spending, possible capital-expenditure slowdowns, regulation and investor profit-taking. Those worries could temper gains if they persist. Chip Stocks Just Had Their Second-Worst Day on Record

Lam Research Price Performance

Shares of NASDAQ:LRCX traded up $15.24 on Friday, hitting $200.44. The company’s stock had a trading volume of 17,943,382 shares, compared to its average volume of 10,981,131. The company has a market capitalization of $250.38 billion, a PE ratio of 29.87, a PEG ratio of 0.84 and a beta of 1.97. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.48 and a quick ratio of 1.86. The company has a 50-day simple moving average of $284.37 and a 200 day simple moving average of $283.67. Lam Research Corporation has a 1 year low of $135.50 and a 1 year high of $438.50.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.02. The company had revenue of $8.22 billion for the quarter, compared to analysts’ expectations of $8.14 billion. Lam Research had a net margin of 32.34% and a return on equity of 72.15%. Lam Research’s revenue for the quarter was up 54.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.26 earnings per share. Sell-side analysts forecast that Lam Research Corporation will post 9.59 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 6th. Stockholders of record on Wednesday, December 2nd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, December 2nd. Lam Research’s payout ratio is currently 19.67%.

Lam Research declared that its Board of Directors has approved a share repurchase plan on Thursday, November 5th that allows the company to buy back $25 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 9% of its shares through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Lam Research Company Profile

Lam Research is a global supplier of equipment and services used to manufacture semiconductors. Its products help chipmakers create and process the microscopic structures that form integrated circuits.

The company’s wafer fabrication equipment is used for processes including etch, thin-film deposition and wafer cleaning. Lam also provides services such as equipment maintenance, upgrades, spare parts and other support for chip manufacturing operations.

Founded in 1980 and headquartered in Fremont, California, Lam Research serves semiconductor manufacturers around the world.