48,811 Lam Research Corporation $LRCX Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama grew its stake in Lam Research Corporation (NASDAQ:LRCX) by 18.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 311,528 shares of the semiconductor company’s stock after purchasing an additional 48,811 shares during the quarter. Retirement Systems of Alabama’s holdings in Lam Research were worth $102,340,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Fulcrum Asset Management LLP lifted its holdings in Lam Research by 148.5% during the 3rd quarter. Fulcrum Asset Management LLP now owns 21,206 shares of the semiconductor company’s stock worth $6,868,000 after buying an additional 12,672 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Lam Research by 17.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 700,385 shares of the semiconductor company’s stock worth $238,201,000 after acquiring an additional 102,283 shares in the last quarter. StoneRidge PMG Advisors LLC bought a new stake in shares of Lam Research in the 3rd quarter valued at approximately $2,426,000. Burton Enright Welch bought a new stake in shares of Lam Research in the 3rd quarter valued at approximately $405,000. Finally, Beverly Hills Private Wealth LLC increased its holdings in shares of Lam Research by 31.1% in the 3rd quarter. Beverly Hills Private Wealth LLC now owns 935 shares of the semiconductor company’s stock valued at $307,000 after acquiring an additional 222 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Up 10.4%

Shares of Lam Research stock opened at $221.31 on Tuesday. The company has a current ratio of 2.48, a quick ratio of 1.86 and a debt-to-equity ratio of 0.27. The business’s 50 day simple moving average is $282.76 and its 200-day simple moving average is $283.64. The stock has a market capitalization of $276.45 billion, a price-to-earnings ratio of 32.98, a PEG ratio of 0.82 and a beta of 1.97. Lam Research Corporation has a twelve month low of $135.50 and a twelve month high of $438.50.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.02. Lam Research had a return on equity of 72.15% and a net margin of 32.34%. The business had revenue of $8.22 billion for the quarter, compared to the consensus estimate of $8.14 billion. During the same quarter last year, the business posted $1.26 EPS. The business’s revenue was up 54.4% on a year-over-year basis. Equities research analysts forecast that Lam Research Corporation will post 9.59 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 6th. Stockholders of record on Wednesday, December 2nd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $1.32 annualized dividend and a dividend yield of 0.6%. Lam Research’s payout ratio is 19.67%.

Lam Research declared that its Board of Directors has initiated a stock buyback program on Thursday, November 5th that allows the company to repurchase $25 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 9% of its shares through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Key Lam Research News

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

• Positive Sentiment: Coverage said Lam shares gained after a reported $25 billion buyback plan, citing strong AI demand, record earnings and a lower valuation as supporting factors. Yahoo Finance article Zacks article
• Positive Sentiment: Chip-equipment shares rallied broadly, with Lam reported up alongside Applied Materials and ASML. The sector move may have lifted LRCX amid optimism ahead of Applied Materials’ earnings. 247WallSt article
• Positive Sentiment: A dividend announcement was also cited in coverage of Lam’s share advance, adding to the capital-return news. American Banking News article
• Neutral Sentiment: B. Riley cut its price target to $310 from $338 but maintained a Buy rating, leaving its target well above the price cited in the report. The reduction is a cautionary signal, while the rating remains supportive. Tickerreport article
• Neutral Sentiment: Director Bethany Mayer sold 16 shares under a pre-arranged Rule 10b5-1 plan, a small transaction that reduced her holdings by 0.9%. SEC filing
• Negative Sentiment: Technical commentary described the rebound as occurring within a still-dominant downtrend, suggesting the recent strength may not yet signal a trend reversal. Technical analysis

Analysts Set New Price Targets

Several research firms recently issued reports on LRCX. Morgan Stanley set a $339.00 price target on Lam Research and gave the company an “overweight” rating in a research report on Thursday, October 22nd. B. Riley Financial decreased their price objective on shares of Lam Research from $338.00 to $310.00 and set a “buy” rating for the company in a report on Monday. Fundamental Research set a $390.00 target price on shares of Lam Research in a research note on Thursday, October 1st. HSBC reiterated a “hold” rating and set a $333.00 target price on shares of Lam Research in a research note on Monday, July 27th. Finally, Wall Street Zen raised shares of Lam Research from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. Twenty-six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $357.57.

Insider Buying and Selling at Lam Research

In other news, Director Bethany Mayer sold 9,557 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the completion of the transaction, the director owned 20,995 shares in the company, valued at approximately $6,607,966.30. This represents a 31.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ava Harter sold 5,000 shares of the stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $302.46, for a total transaction of $1,512,300.00. Following the completion of the sale, the insider directly owned 42,462 shares in the company, valued at approximately $12,843,056.52. This trade represents a 10.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 14,573 shares of company stock valued at $4,523,606. Corporate insiders own 0.31% of the company’s stock.

Lam Research Profile

Lam Research is a global supplier of equipment and services used to manufacture semiconductors. Its products help chipmakers create and process the microscopic structures that form integrated circuits.

The company’s wafer fabrication equipment is used for processes including etch, thin-film deposition and wafer cleaning. Lam also provides services such as equipment maintenance, upgrades, spare parts and other support for chip manufacturing operations.

Founded in 1980 and headquartered in Fremont, California, Lam Research serves semiconductor manufacturers around the world.