Canandaigua National Bank & Trust Co. Invests $1.25 Million in Lam Research Corporation $LRCX

Canandaigua National Bank & Trust Co. acquired a new position in shares of Lam Research Corporation (NASDAQ:LRCX) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,895 shares of the semiconductor company’s stock, valued at approximately $1,254,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Sandy Cove Advisors LLC acquired a new stake in shares of Lam Research during the second quarter worth $405,000. Grove Bank & Trust raised its stake in Lam Research by 13.0% during the second quarter. Grove Bank & Trust now owns 4,442 shares of the semiconductor company’s stock worth $1,925,000 after purchasing an additional 512 shares during the period. Trinity Financial Advisors LLC purchased a new stake in shares of Lam Research during the 2nd quarter valued at $228,000. Pacific Excel Wealth Advisors Inc. acquired a new stake in shares of Lam Research during the 2nd quarter worth $719,000. Finally, jvl associates llc acquired a new position in Lam Research in the second quarter valued at $236,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Key Lam Research News

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

• Positive Sentiment: Strong earnings and upbeat guidance support the long-term outlook. Lam reported quarterly revenue of $6.72 billion and adjusted EPS of $1.82, exceeding expectations. Management’s outlook for the next quarter—approximately $8.10 billion in revenue, 52% gross margin and 39.5% operating margin—also came in well ahead of consensus, reinforcing expectations for continued semiconductor-equipment demand. Lam Research’s Latest Earnings Report Says the AI Chip Supercycle Isn’t Over
• Positive Sentiment: AI, memory and advanced-manufacturing spending remain important catalysts. Commentary points to an ongoing AI chip “supercycle,” higher customer capital expenditures and potential upside for wafer-fabrication equipment spending. Industry optimism from Taiwan Semiconductor and Intel, along with strong memory demand, provides a favorable backdrop for LRCX. BofA’s Cloud Forecast Puts Chip Stocks in Focus
• Positive Sentiment: Analyst targets and quantitative screens remain favorable. LRCX has appeared on growth-at-a-reasonable-price and efficiency screens, while recent analyst targets have generally exceeded the current market level, with a reported median target of $375. GARP Stocks Investors Can Consider
• Neutral Sentiment: Analysts are divided on the shares. Some view Lam as one of the strongest semiconductor-equipment operators with substantial long-term upside, while others believe the recent rebound already reflects much of the earnings improvement.
• Negative Sentiment: Valuation and insider selling are limiting enthusiasm. LRCX trades at a premium earnings multiple, and commentary describes the valuation as near the upper end of its historical range. In addition, reported insider activity shows sales without purchases during the past six months, which may add to investor caution. Lam Research Soars After Earnings

Lam Research Trading Down 3.2%

Shares of NASDAQ LRCX opened at $307.42 on Thursday. 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 stock has a market cap of $384.45 billion, a price-to-earnings ratio of 53.37, a PEG ratio of 1.27 and a beta of 1.84. The business has a 50 day simple moving average of $340.27 and a 200 day simple moving average of $278.83. Lam Research Corporation has a 52 week low of $94.11 and a 52 week high of $438.50.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, July 29th. The semiconductor company reported $1.82 earnings per share for the quarter, topping 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 firm had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.66 billion. During the same quarter in the previous year, the business earned $1.33 EPS. The business’s revenue was up 30.0% on a year-over-year basis. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. On average, research analysts predict that Lam Research Corporation will post 9.24 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

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

Analyst Upgrades and Downgrades

LRCX has been the topic of a number of research reports. Morgan Stanley cut their price objective on Lam Research from $404.00 to $367.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Evercore reaffirmed an “outperform” rating and set a $355.00 price target on shares of Lam Research in a research report on Monday, July 20th. Weiss Ratings raised Lam Research from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Needham & Company LLC reissued a “buy” rating and set a $390.00 price target on shares of Lam Research in a research report on Thursday, July 30th. Finally, Rothschild & Co Redburn upped their target price on shares of Lam Research from $305.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. One investment 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $358.47.

Insider Buying and Selling at Lam Research

In other 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 value of $2,371,226.40. Following the sale, the senior vice president owned 58,470 shares in the company, valued at approximately $18,102,312. The trade was a 11.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Abhijit Y. Talwalkar sold 18,282 shares of the firm’s stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $335.00, for a total transaction of $6,124,470.00. Following the sale, the director directly owned 87,142 shares of the company’s stock, valued at approximately $29,192,570. The trade was a 17.34% 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 80,441 shares of company stock worth $27,614,296 over the last three months. Company insiders own 0.31% of the company’s stock.

Lam Research Company 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.