PNC Financial Services Group Inc. Sells 149,814 Shares of Lam Research Corporation $LRCX

PNC Financial Services Group Inc. cut its stake in Lam Research Corporation (NASDAQ:LRCX) by 5.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,639,909 shares of the semiconductor company’s stock after selling 149,814 shares during the period. PNC Financial Services Group Inc. owned 0.21% of Lam Research worth $564,043,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. State Street Corp raised its position in Lam Research by 0.4% in the 3rd quarter. State Street Corp now owns 59,817,352 shares of the semiconductor company’s stock worth $8,024,684,000 after purchasing an additional 265,805 shares during the last quarter. Geode Capital Management LLC boosted its position in Lam Research by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 33,747,368 shares of the semiconductor company’s stock valued at $5,764,117,000 after buying an additional 126,613 shares during the last quarter. Invesco Ltd. increased its stake in shares of Lam Research by 7.7% in the 4th quarter. Invesco Ltd. now owns 22,821,354 shares of the semiconductor company’s stock valued at $3,906,559,000 after buying an additional 1,638,406 shares during the period. Norges Bank acquired a new stake in shares of Lam Research in the 4th quarter valued at $3,645,427,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Lam Research by 352.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,695,210 shares of the semiconductor company’s stock worth $2,344,347,000 after acquiring an additional 10,666,540 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Raymond James Financial set a $425.00 price target on Lam Research in a research note on Wednesday, June 10th. UBS Group reiterated a “buy” rating and issued a $375.00 price objective (up from $310.00) on shares of Lam Research in a research report on Tuesday, June 9th. Evercore reissued an “outperform” rating and set a $355.00 price objective on shares of Lam Research in a report on Monday. Erste Group Bank downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $450.00 target price (up from $365.00) on shares of Lam Research in a research note on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $360.51.

Lam Research Stock Up 5.0%

Shares of Lam Research stock opened at $322.00 on Wednesday. Lam Research Corporation has a 12 month low of $90.93 and a 12 month high of $438.50. The business has a fifty day simple moving average of $340.44 and a 200 day simple moving average of $271.60. The company has a quick ratio of 1.77, a current ratio of 2.54 and a debt-to-equity ratio of 0.35. The stock has a market cap of $402.68 billion, a PE ratio of 60.75, a price-to-earnings-growth ratio of 1.82 and a beta of 1.80.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.11. The firm had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Lam Research had a return on equity of 66.21% and a net margin of 30.94%.The company’s revenue was up 23.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.04 earnings per share. Research analysts predict that Lam Research Corporation will post 5.68 EPS for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th were paid 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 yield of 0.3%. Lam Research’s dividend payout ratio (DPR) is presently 19.62%.

Lam Research News Roundup

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

Insider Activity

In other news, insider Ava Harter sold 6,010 shares of Lam Research stock in a transaction on Monday, April 27th. The shares were sold at an average price of $258.66, for a total transaction of $1,554,546.60. Following the transaction, the insider directly owned 53,205 shares of the company’s stock, valued at $13,762,005.30. This trade represents a 10.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Neil J. Fernandes sold 18,170 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $255.14, for a total transaction of $4,635,893.80. Following the completion of the sale, the senior vice president owned 66,129 shares of the company’s stock, valued at approximately $16,872,153.06. This represents a 21.55% 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 104,621 shares of company stock worth $33,804,737 over the last quarter. 0.31% of the stock is owned by insiders.

Lam Research 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.