First Trust Advisors LP Sells 1,374,244 Shares of Lam Research Corporation $LRCX

First Trust Advisors LP decreased its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 24.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,225,554 shares of the semiconductor company’s stock after selling 1,374,244 shares during the period. Lam Research comprises 0.6% of First Trust Advisors LP’s holdings, making the stock its 13th largest holding. First Trust Advisors LP owned approximately 0.34% of Lam Research worth $902,832,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LRCX. Brighton Jones LLC lifted its stake in shares of Lam Research by 1,032.4% in the 4th quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company’s stock valued at $1,025,000 after acquiring an additional 12,936 shares during the last quarter. Caxton Associates LLP bought a new position in Lam Research in the first quarter valued at about $239,000. Gabelli Funds LLC bought a new position in Lam Research in the second quarter valued at about $253,000. NewEdge Advisors LLC boosted its stake in shares of Lam Research by 2.7% during the second quarter. NewEdge Advisors LLC now owns 100,528 shares of the semiconductor company’s stock valued at $9,785,000 after purchasing an additional 2,661 shares in the last quarter. Finally, Osterweis Capital Management Inc. boosted its stake in shares of Lam Research by 5,206.7% during the second quarter. Osterweis Capital Management Inc. now owns 796 shares of the semiconductor company’s stock valued at $77,000 after purchasing an additional 781 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several recent research reports. Needham & Company LLC upped their price objective on Lam Research from $300.00 to $390.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Wells Fargo & Company reiterated an “overweight” rating and set a $450.00 target price (up from $365.00) on shares of Lam Research in a research report on Monday, June 22nd. TD Cowen reiterated a “buy” rating and set a $400.00 price target (up from $340.00) on shares of Lam Research in a report on Thursday, July 9th. Barclays restated an “overweight” rating and issued a $335.00 price objective (up from $275.00) on shares of Lam Research in a report on Thursday, June 11th. Finally, Weiss Ratings downgraded Lam Research from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $360.51.

Insiders Place Their Bets

In other Lam Research news, Director Eric Brandt sold 54,500 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $350.80, for a total transaction of $19,118,600.00. Following the completion of the sale, the director directly owned 199,205 shares in the company, valued at approximately $69,881,114. This trade represents a 21.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Neil J. Fernandes sold 7,659 shares of Lam Research stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $309.60, for a total value of $2,371,226.40. Following the completion of the transaction, the senior vice president directly owned 58,470 shares of the company’s stock, valued at approximately $18,102,312. This trade represents a 11.58% 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. In the last 90 days, insiders have sold 104,621 shares of company stock valued at $33,804,737. 0.31% of the stock is currently owned by insiders.

Lam Research Stock Up 5.0%

Shares of NASDAQ LRCX opened at $322.00 on Wednesday. The company’s 50 day moving average price is $340.44 and its 200-day moving average price is $271.60. 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 Corporation has a 52-week low of $90.93 and a 52-week high of $438.50. The company has a market capitalization of $402.68 billion, a P/E ratio of 60.75, a price-to-earnings-growth ratio of 1.82 and a beta of 1.80.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.11. Lam Research had a net margin of 30.94% and a return on equity of 66.21%. The company had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the prior year, the company posted $1.04 earnings per share. Lam Research’s revenue for the quarter was up 23.8% compared to the same quarter last year. Equities analysts forecast that Lam Research Corporation will post 5.68 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders 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 dividend on an annualized basis and a yield of 0.3%. Lam Research’s dividend payout ratio is 19.62%.

Key Stories Impacting Lam Research

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

• Positive Sentiment: Semiconductor stocks, including Lam Research, rebounded as dip buyers returned to the group following a sharp sector pullback, supported by continued enthusiasm for the AI investment cycle. Intel, KLA Corporation, Lam Research, Marvell Technology, and Micron Shares Skyrocket, What You Need To Know
• Positive Sentiment: Multiple articles described Lam Research as a solid growth stock and a potential earnings-surprise name, reinforcing bullish expectations for the company’s fundamentals. Looking for a Growth Stock? 3 Reasons Why Lam Research (LRCX) is a Solid Choice
• Positive Sentiment: Lam Research joined the AI Materials Foundry as a founding partner, which could strengthen its long-term role in advanced chip materials and next-generation semiconductor development. Lam Research (LRCX) Joins AI Materials Foundry To Help Shape Future Chip Materials
• Positive Sentiment: Industry outlook pieces continue to favor semiconductor equipment makers like LRCX, citing AI-driven demand for advanced chips, packaging, and memory. Zacks Industry Outlook Highlights Applied Materials, Lam Research and FormFactor
• Neutral Sentiment: Lam Research was cited among stocks likely to deliver earnings upside this season, but this was presented as a broad screen rather than company-specific new information. 4 Top-Ranked Tech Stocks Set to Beat Expectations This Earnings Season
• Neutral Sentiment: Lam Research was also noted as having a “Moderate Buy” consensus from brokerages, which supports the stock but does not by itself explain a sharp move. Lam Research Corporation (NASDAQ:LRCX) Given Consensus Recommendation of “Moderate Buy” by Brokerages
• Negative Sentiment: The stock recently fell more than the broader market in a prior session, reflecting lingering volatility after the semiconductor sector’s steep selloff. Lam Research (LRCX) Dips More Than Broader Market: What You Should Know

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.