NewEdge Wealth LLC Cuts Stock Position in Lam Research Corporation $LRCX

by · The Markets Daily

NewEdge Wealth LLC cut its position in Lam Research Corporation (NASDAQ:LRCX – Free Report) by 21.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 356,302 shares of the semiconductor company’s stock after selling 96,577 shares during the quarter. Lam Research makes up approximately 0.9% of NewEdge Wealth LLC’s investment portfolio, making the stock its 21st largest holding. NewEdge Wealth LLC’s holdings in Lam Research were worth $76,128,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. WealthCollab LLC boosted its holdings in shares of Lam Research by 28.8% in the 1st quarter. WealthCollab LLC now owns 313 shares of the semiconductor company’s stock valued at $67,000 after buying an additional 70 shares in the last quarter. First Citizens Bank & Trust Co. raised its stake in shares of Lam Research by 2.1% during the 1st quarter. First Citizens Bank & Trust Co. now owns 113,479 shares of the semiconductor company’s stock worth $24,246,000 after acquiring an additional 2,316 shares in the last quarter. Alesco Advisors LLC An ESL Co bought a new position in shares of Lam Research during the 1st quarter worth approximately $1,754,000. Himension Capital Singapore PTE. LTD. lifted its position in Lam Research by 5.1% during the first quarter. Himension Capital Singapore PTE. LTD. now owns 50,858 shares of the semiconductor company’s stock valued at $10,866,000 after acquiring an additional 2,469 shares during the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab purchased a new stake in Lam Research during the first quarter valued at approximately $11,667,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on LRCX shares. UBS Group reaffirmed a “buy” rating and issued a $375.00 price target (up from $310.00) on shares of Lam Research in a report on Tuesday, June 9th. Sanford C. Bernstein increased their price objective on Lam Research from $325.00 to $340.00 and gave the company an “outperform” rating in a report on Thursday, May 21st. Royal Bank Of Canada increased their price objective on Lam Research from $290.00 to $310.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Oppenheimer reissued an “outperform” rating and issued a $400.00 price objective (up from $330.00) on shares of Lam Research in a research report on Monday, June 15th. Finally, Seaport Research Partners initiated coverage on Lam Research in a research note on Monday, May 4th. They set a “buy” rating and a $300.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus price target of $360.51.

View Our Latest Analysis on Lam Research

Lam Research News Roundup

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

  • Positive Sentiment: Several recent pieces argue Lam Research has strong growth and earnings-beat potential, with Zacks/Yahoo highlighting expectations for earnings to rise next week and pointing to favorable fundamentals that could support an upside surprise. Article Title
  • Positive Sentiment: Wall Street sentiment remains broadly bullish, with another note saying the average brokerage recommendation favors buying Lam Research, which can help reinforce investor confidence in the name. Article Title
  • Positive Sentiment: Semiconductor-sector coverage has been constructive, with articles noting renewed buying in chip stocks on AI infrastructure optimism and listing Lam Research among the names benefiting from the rebound. Article Title
  • Positive Sentiment: Additional commentary frames LRCX as a solid growth stock and suggests the company’s fundamentals could support exceptional returns, adding to the bullish narrative. Article Title
  • Neutral Sentiment: One article compared Lam Research with Applied Materials, but it appears to be industry analysis rather than a direct company-specific catalyst for LRCX. Article Title
  • Negative Sentiment: Broader market coverage says investors have been locking in profits in technology stocks ahead of key earnings from Alphabet and Tesla, which can create short-term pressure on semiconductor shares like Lam Research. Article Title

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $319.29 on Thursday. The business’s 50 day moving average price is $340.92 and its 200 day moving average price is $272.64. The firm has a market cap of $399.29 billion, a P/E ratio of 60.24, a P/E/G ratio of 1.91 and a beta of 1.80. Lam Research Corporation has a 52 week low of $90.93 and a 52 week high of $438.50. 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 (NASDAQ:LRCX – Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the prior year, the company earned $1.04 EPS. Lam Research’s quarterly revenue was up 23.8% on a year-over-year basis. On average, sell-side analysts expect that Lam Research Corporation will post 5.68 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Wednesday, June 17th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Wednesday, June 17th. Lam Research’s dividend payout ratio is 19.62%.

Insider Buying and Selling at Lam Research

In related news, SVP Neil J. Fernandes sold 7,659 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $309.60, for a total transaction 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 $18,102,312. The trade was a 11.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Abhijit Y. Talwalkar sold 18,282 shares of the company’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $335.00, for a total transaction of $6,124,470.00. Following the completion of the sale, the director directly owned 87,142 shares in the company, valued at approximately $29,192,570. The trade was a 17.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 104,621 shares of company stock worth $33,804,737 over the last ninety days. 0.31% of the stock is owned by insiders.

About Lam Research

(Free Report)

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.

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