Merit Financial Group LLC Sells 36,870 Shares of Lam Research Corporation $LRCX

Merit Financial Group LLC lessened its position in Lam Research Corporation (NASDAQ:LRCX) by 32.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 75,266 shares of the semiconductor company’s stock after selling 36,870 shares during the quarter. Merit Financial Group LLC’s holdings in Lam Research were worth $32,615,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Vaquero Private Wealth Ltd. bought a new position in Lam Research in the second quarter worth $217,000. Andrews Advisory Associates LLC bought a new stake in shares of Lam Research during the 2nd quarter valued at $201,000. Cypress Point Wealth Management LLC bought a new stake in shares of Lam Research during the 2nd quarter valued at $707,000. Farther Finance Advisors LLC grew its position in shares of Lam Research by 7.5% in the 2nd quarter. Farther Finance Advisors LLC now owns 58,476 shares of the semiconductor company’s stock worth $25,268,000 after buying an additional 4,102 shares during the period. Finally, Ballentine Partners LLC grew its position in shares of Lam Research by 1.4% in the 2nd quarter. Ballentine Partners LLC now owns 53,012 shares of the semiconductor company’s stock worth $22,972,000 after buying an additional 724 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Performance

Shares of Lam Research stock opened at $343.84 on Tuesday. Lam Research Corporation has a 1 year low of $94.11 and a 1 year high of $438.50. The firm’s 50-day moving average is $339.85 and its 200 day moving average is $284.31. The stock has a market cap of $430.25 billion, a price-to-earnings ratio of 59.69, a PEG ratio of 1.32 and a beta of 1.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.63 and a quick ratio of 1.91.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.13. The business had revenue of $6.72 billion during 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%. Lam Research’s revenue was up 30.0% compared to the same quarter last year. During the same period last year, the business earned $1.33 EPS. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. Sell-side analysts anticipate that Lam Research Corporation will post 9.32 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.3%. Lam Research’s dividend payout ratio (DPR) is 18.06%.

Insider Buying and Selling

In other Lam Research news, SVP Neil J. Fernandes sold 7,659 shares of the 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 directly owned 58,470 shares in the company, valued at approximately $18,102,312. This trade represents a 11.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Brandt sold 54,500 shares of Lam Research stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $350.80, for a total value of $19,118,600.00. Following the completion of the sale, the director directly owned 199,205 shares of the company’s stock, valued at approximately $69,881,114. The trade was a 21.48% 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. Insiders sold a total of 80,441 shares of company stock worth $27,614,296 in the last three months. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

LRCX has been the subject of a number of recent research reports. Evercore reissued an “outperform” rating and set a $355.00 price target on shares of Lam Research in a research report on Monday, July 20th. Wells Fargo & Company restated an “overweight” rating and issued a $350.00 price objective (down from $450.00) on shares of Lam Research in a report on Thursday, July 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $390.00 target price on shares of Lam Research in a research note on Thursday, July 30th. TD Cowen reiterated a “buy” rating and set a $400.00 target price (up from $340.00) on shares of Lam Research in a report on Thursday, July 9th. Finally, Stifel Nicolaus boosted their price target on Lam Research from $325.00 to $425.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus target price of $358.47.

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.