Lam Research Corporation $LRCX Stock: Parallel Advisors LLC Raises Position

Parallel Advisors LLC grew its stake in Lam Research Corporation (NASDAQ:LRCX) by 26.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,466 shares of the semiconductor company’s stock after acquiring an additional 6,211 shares during the quarter. Parallel Advisors LLC’s holdings in Lam Research were worth $9,680,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. State Street Corp raised its stake in Lam Research by 2.6% in the 2nd quarter. State Street Corp now owns 60,704,130 shares of the semiconductor company’s stock valued at $26,320,468,000 after purchasing an additional 1,545,830 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Lam Research by 5.5% during the 2nd quarter. Bank of America Corp DE now owns 11,244,147 shares of the semiconductor company’s stock worth $4,872,426,000 after purchasing an additional 584,489 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Lam Research by 411.8% during the 2nd quarter. Van ECK Associates Corp now owns 11,089,395 shares of the semiconductor company’s stock worth $4,805,368,000 after purchasing an additional 8,922,854 shares during the last quarter. Amundi grew its holdings in shares of Lam Research by 23.7% during the first quarter. Amundi now owns 10,147,479 shares of the semiconductor company’s stock worth $2,168,107,000 after buying an additional 1,942,862 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Lam Research by 2.0% during the first quarter. Janus Henderson Group PLC now owns 9,265,026 shares of the semiconductor company’s stock worth $1,975,244,000 after buying an additional 181,087 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Trading Up 8.2%

Lam Research stock traded up $15.24 during trading on Friday, reaching $200.44. The company had a trading volume of 17,943,382 shares, compared to its average volume of 10,981,131. Lam Research Corporation has a 12-month low of $135.50 and a 12-month high of $438.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.86 and a current ratio of 2.48. The stock’s 50 day moving average price is $284.37 and its two-hundred day moving average price is $283.67. The firm has a market capitalization of $250.38 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 0.84 and a beta of 1.97.

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

Lam Research announced that its Board of Directors has initiated a share buyback program on Thursday, November 5th that permits the company to repurchase $25 billion in outstanding shares. This buyback authorization permits the semiconductor company to purchase up to 9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Lam Research Dividend Announcement

The company also recently disclosed 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. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, December 2nd. Lam Research’s dividend payout ratio is presently 19.67%.

Insiders Place Their Bets

In other Lam Research news, Director Bethany Mayer sold 9,557 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the completion of the sale, the director owned 20,995 shares of the company’s stock, valued at approximately $6,607,966.30. The trade was 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 this hyperlink. Also, insider Ava Harter sold 5,000 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $302.46, for a total value of $1,512,300.00. Following the sale, the insider owned 42,462 shares of the company’s stock, valued at $12,843,056.52. This represents a 10.53% 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. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

LRCX has been the topic of a number of analyst reports. UBS Group restated a “buy” rating and set a $400.00 target price (down from $425.00) on shares of Lam Research in a research report on Thursday, October 22nd. Morgan Stanley set a $339.00 price target on Lam Research and gave the company an “overweight” rating in a report on Thursday, October 22nd. Needham & Company LLC reduced their price target on Lam Research from $390.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. Fundamental Research set a $390.00 price objective on Lam Research in a report on Thursday, October 1st. Finally, Zacks Research downgraded Lam Research from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 22nd. Twenty-six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $360.23.

Trending Headlines about 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.