Bleakley Financial Group LLC Grows Stake in Lam Research Corporation $LRCX

Bleakley Financial Group LLC raised its holdings in shares of Lam Research Corporation (NASDAQ:LRCX) by 12.4% during the first quarter, HoldingsChannel.com reports. The firm owned 42,367 shares of the semiconductor company’s stock after buying an additional 4,678 shares during the period. Bleakley Financial Group LLC’s holdings in Lam Research were worth $9,052,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LRCX. Norges Bank purchased a new position in Lam Research during the 4th quarter worth $3,645,427,000. Price T Rowe Associates Inc. MD raised its stake in Lam Research by 352.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,695,210 shares of the semiconductor company’s stock valued at $2,344,347,000 after buying an additional 10,666,540 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Lam Research by 57.0% in the fourth quarter. Franklin Resources Inc. now owns 10,110,560 shares of the semiconductor company’s stock worth $1,730,724,000 after acquiring an additional 3,671,073 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in Lam Research by 235.5% in the fourth quarter. Corient Private Wealth LLC now owns 5,199,441 shares of the semiconductor company’s stock worth $890,040,000 after acquiring an additional 3,649,553 shares in the last quarter. Finally, J. Stern & Co. LLP grew its stake in shares of Lam Research by 3,826.9% during the fourth quarter. J. Stern & Co. LLP now owns 3,459,377 shares of the semiconductor company’s stock worth $592,176,000 after acquiring an additional 3,371,283 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. HSBC upped their price objective on shares of Lam Research from $221.00 to $247.00 and gave the company a “hold” rating in a report on Friday, April 24th. Needham & Company LLC lifted their target price on shares of Lam Research from $300.00 to $390.00 and gave the stock a “buy” rating in a research note on Friday. Barclays reissued an “overweight” rating and set a $335.00 target price (up from $275.00) on shares of Lam Research in a research report on Thursday, June 11th. Seaport Research Partners began coverage on shares of Lam Research in a research note on Monday, May 4th. They set a “buy” rating and a $300.00 price target on the stock. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $290.00 price target on shares of Lam Research in a report on Thursday, April 23rd. Twenty-eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and an average target price of $350.81.

Insider Activity

In other news, insider Ava Harter sold 6,010 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $258.66, for a total value of $1,554,546.60. Following the sale, the insider owned 53,205 shares in the company, valued at $13,762,005.30. This represents a 10.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Neil J. Fernandes sold 7,659 shares of the firm’s 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 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 position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 86,339 shares of company stock valued at $27,680,267 in the last ninety days. Insiders own 0.31% of the company’s stock.

Lam Research Trading Down 5.8%

Shares of NASDAQ:LRCX opened at $329.92 on Tuesday. The company has a quick ratio of 1.77, a current ratio of 2.54 and a debt-to-equity ratio of 0.35. Lam Research Corporation has a 52-week low of $90.93 and a 52-week high of $438.50. The stock has a market cap of $412.59 billion, a price-to-earnings ratio of 62.25, a PEG ratio of 2.07 and a beta of 1.80. The business has a 50-day moving average price of $336.33 and a 200-day moving average price of $265.32.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.11. Lam Research had a return on equity of 66.21% and a net margin of 30.94%.The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the prior year, the firm earned $1.04 earnings per share. Lam Research’s revenue for the quarter was up 23.8% on a year-over-year basis. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. Equities analysts predict that Lam Research Corporation will post 5.68 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 17th were paid a dividend of $0.26 per share. 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 presently 19.62%.

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.