Lam Research Corporation $LRCX Shares Sold by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC lessened its holdings in Lam Research Corporation (NASDAQ:LRCX) by 17.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,934 shares of the semiconductor company’s stock after selling 3,081 shares during the quarter. Lam Research makes up about 1.4% of Legacy Wealth Asset Management LLC’s holdings, making the stock its 8th largest position. Legacy Wealth Asset Management LLC’s holdings in Lam Research were worth $6,471,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Lam Research

In other Lam Research news, Director Eric Brandt sold 54,500 shares of Lam Research stock in a transaction that occurred 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 transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Neil J. Fernandes sold 7,659 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were 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 in the company, valued at approximately $18,102,312. The trade was a 11.58% 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 valued at $27,614,296 in the last ninety days. Insiders own 0.31% of the company’s stock.

Lam Research Stock Performance

Shares of Lam Research stock opened at $311.35 on Monday. Lam Research Corporation has a 1 year low of $94.11 and a 1 year high of $438.50. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.91 and a current ratio of 2.63. The company has a market capitalization of $389.36 billion, a P/E ratio of 54.05, a PEG ratio of 1.25 and a beta of 1.84. The company’s fifty day moving average is $339.89 and its two-hundred day moving average is $280.04.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, July 29th. The semiconductor company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.13. Lam Research had a net margin of 31.27% and a return on equity of 67.60%. The business had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.66 billion. During the same period in the prior year, the company earned $1.33 earnings per share. The business’s revenue was up 30.0% compared to the same quarter last year. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. Analysts forecast that Lam Research Corporation will post 9.24 earnings per share for the current year.

Lam Research Dividend Announcement

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

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Lam Research from $300.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Needham & Company LLC reissued a “buy” rating and issued a $390.00 price target on shares of Lam Research in a research report on Thursday, July 30th. Weiss Ratings lowered Lam Research from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday. BNP Paribas Exane lifted their target price on Lam Research from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, April 23rd. Finally, Rothschild & Co Redburn upped their target price on Lam Research from $305.00 to $420.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and an average price target 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.