ICICI Prudential Asset Management Co Ltd Reduces Position in Lam Research Corporation $LRCX

ICICI Prudential Asset Management Co Ltd decreased its holdings in Lam Research Corporation (NASDAQ:LRCX) by 67.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 19,436 shares of the semiconductor company’s stock after selling 40,714 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Lam Research were worth $2,602,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Gilliland Jeter Wealth Management LLC raised its holdings in shares of Lam Research by 0.3% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 26,501 shares of the semiconductor company’s stock valued at $3,548,000 after purchasing an additional 69 shares during the last quarter. Gold Investment Management Ltd. boosted its holdings in Lam Research by 0.5% in the third quarter. Gold Investment Management Ltd. now owns 14,736 shares of the semiconductor company’s stock worth $1,973,000 after purchasing an additional 70 shares during the last quarter. Hemington Wealth Management grew its position in Lam Research by 4.3% in the 3rd quarter. Hemington Wealth Management now owns 1,731 shares of the semiconductor company’s stock worth $231,000 after purchasing an additional 72 shares during the period. Magnus Financial Group LLC raised its stake in Lam Research by 0.3% during the 3rd quarter. Magnus Financial Group LLC now owns 22,838 shares of the semiconductor company’s stock valued at $3,058,000 after buying an additional 76 shares during the last quarter. Finally, Addison Advisors LLC raised its stake in Lam Research by 2.8% during the 3rd quarter. Addison Advisors LLC now owns 2,857 shares of the semiconductor company’s stock valued at $383,000 after buying an additional 77 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

LRCX has been the subject of several research analyst reports. HSBC lifted their price objective on Lam Research from $181.00 to $221.00 and gave the stock a “hold” rating in a report on Friday, January 30th. Citigroup boosted their price target on Lam Research from $265.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. TD Cowen increased their price objective on shares of Lam Research from $170.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Citic Securities raised their price objective on shares of Lam Research from $165.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, The Goldman Sachs Group set a $262.00 target price on shares of Lam Research and gave the company a “buy” rating in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $244.88.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $237.39 on Friday. The company has a market capitalization of $296.45 billion, a P/E ratio of 48.65, a P/E/G ratio of 2.57 and a beta of 1.78. Lam Research Corporation has a 1-year low of $56.32 and a 1-year high of $251.87. The firm’s 50 day simple moving average is $207.42 and its two-hundred day simple moving average is $158.84. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.26 and a quick ratio of 1.61.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 28th. The semiconductor company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.10. Lam Research had a net margin of 30.22% and a return on equity of 62.81%. The firm had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.23 billion. During the same period in the prior year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. Lam Research has set its Q3 2026 guidance at 1.250-1.450 EPS. Research analysts expect that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 4th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, March 4th. Lam Research’s dividend payout ratio (DPR) is 21.31%.

Insider Buying and Selling

In other Lam Research news, Director Eric Brandt sold 35,000 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $225.60, for a total transaction of $7,896,000.00. Following the completion of the sale, the director directly owned 253,705 shares of the company’s stock, valued at $57,235,848. This trade represents a 12.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.31% 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.