Lam Research Corporation $LRCX Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lessened its position in Lam Research Corporation (NASDAQ:LRCX) by 5.7% in the third quarter, HoldingsChannel reports. The firm owned 313,707 shares of the semiconductor company’s stock after selling 18,952 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Lam Research were worth $103,056,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. World Equity Group Inc. lifted its position in Lam Research by 0.5% during the second quarter. World Equity Group Inc. now owns 5,576 shares of the semiconductor company’s stock valued at $2,416,000 after buying an additional 29 shares during the period. Vann Equity Management LLC grew its position in shares of Lam Research by 1.1% in the 3rd quarter. Vann Equity Management LLC now owns 2,873 shares of the semiconductor company’s stock worth $944,000 after buying an additional 31 shares during the period. Tenzing Financial LLC increased its stake in shares of Lam Research by 3.5% in the 2nd quarter. Tenzing Financial LLC now owns 1,018 shares of the semiconductor company’s stock worth $441,000 after acquiring an additional 34 shares in the last quarter. Advus Financial Partners LLC increased its stake in shares of Lam Research by 1.0% in the 2nd quarter. Advus Financial Partners LLC now owns 3,578 shares of the semiconductor company’s stock worth $1,550,000 after acquiring an additional 34 shares in the last quarter. Finally, Paragon Private Wealth Management LLC increased its stake in shares of Lam Research by 1.3% in the 2nd quarter. Paragon Private Wealth Management LLC now owns 2,719 shares of the semiconductor company’s stock worth $1,178,000 after acquiring an additional 35 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LRCX has been the topic of several research reports. UBS Group reissued a “buy” rating and set a $400.00 price objective (down from $425.00) on shares of Lam Research in a research note on Thursday, October 22nd. HSBC reaffirmed a “hold” rating and set a $333.00 target price on shares of Lam Research in a research note on Monday, July 27th. Fundamental Research set a $390.00 target price on shares of Lam Research in a report on Thursday, October 1st. Bank of America reissued a “buy” rating and issued a $345.00 price target on shares of Lam Research in a research report on Thursday, October 22nd. Finally, Evercore set a $315.00 price target on Lam Research in a research note on Tuesday, October 20th. Twenty-six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $360.23.

Insider Activity

In other news, Director Bethany Mayer sold 9,557 shares of the business’s stock in a transaction that occurred on 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 directly owned 20,995 shares of the company’s stock, valued at $6,607,966.30. The trade was a 31.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ava Harter sold 5,000 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $302.46, for a total transaction of $1,512,300.00. Following the transaction, the insider 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.31% of the stock is currently owned by corporate insiders.

Lam Research Stock Up 8.2%

Shares of Lam Research stock traded up $15.24 on Friday, reaching $200.44. The company’s stock had a trading volume of 17,943,382 shares, compared to its average volume of 10,981,131. Lam Research Corporation has a 52 week low of $135.50 and a 52 week high of $438.50. The firm’s fifty day simple moving average is $284.37 and its two-hundred day simple moving average is $283.67. The company has a quick ratio of 1.86, a current ratio of 2.48 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $250.38 billion, a price-to-earnings ratio of 29.87, a P/E/G ratio of 0.84 and a beta of 1.97.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 21st. The semiconductor company reported $2.20 EPS for the quarter, beating 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 company had revenue of $8.22 billion for the quarter, compared to analysts’ expectations of $8.14 billion. During the same period last year, the firm posted $1.26 earnings per share. Lam Research’s revenue was up 54.4% compared to the same quarter last year. Equities analysts anticipate that Lam Research Corporation will post 9.59 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 6th. Shareholders of record on Wednesday, December 2nd will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, December 2nd. This represents a $1.32 annualized dividend and a yield of 0.7%. Lam Research’s dividend payout ratio is currently 19.67%.

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

Key Stories Impacting Lam Research

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

• Positive Sentiment: The authorization allows Lam Research to repurchase up to about 9% of its shares. Investors may view the plan as a sign of management confidence and a potential source of support for per-share earnings. Lam Research Shares Gain on $25 Billion Buyback Authorization
• Positive Sentiment: The company also declared a quarterly dividend of $0.33 per share, payable January 6 to shareholders of record December 2. Lam Research Corporation Announces $25 Billion Share Repurchase Authorization and Declares Quarterly Dividend
• Neutral Sentiment: The buyback has drawn attention to LRCX’s significant presence in semiconductor, technology and Nasdaq-100 funds; overlapping holdings could amplify the stock’s effect on investors’ portfolios in either direction. Own a Semiconductor ETF? Lam Research’s Buyback Move Affects You
• Negative Sentiment: Broader chip-sector volatility remains a risk: recent coverage cited concerns about AI-related spending, possible capital-expenditure slowdowns, regulation and investor profit-taking. Those worries could temper gains if they persist. Chip Stocks Just Had Their Second-Worst Day on Record

About Lam Research

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.