Pittenger & Anderson Inc. Decreases Position in Lam Research Corporation $LRCX

Pittenger & Anderson Inc. decreased its position in Lam Research Corporation (NASDAQ:LRCX) by 8.1% during the 1st quarter, Holdings Channel reports. The firm owned 66,953 shares of the semiconductor company’s stock after selling 5,925 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Lam Research were worth $14,305,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Cullinan Associates Inc. acquired a new position in shares of Lam Research during the 1st quarter worth $13,781,000. Citizens Financial Group Inc. RI grew its stake in Lam Research by 179.3% in the 1st quarter. Citizens Financial Group Inc. RI now owns 46,500 shares of the semiconductor company’s stock valued at $9,948,000 after acquiring an additional 29,853 shares during the last quarter. Fifth Third Bancorp increased its holdings in Lam Research by 138.2% during the 1st quarter. Fifth Third Bancorp now owns 353,969 shares of the semiconductor company’s stock valued at $75,629,000 after acquiring an additional 205,354 shares in the last quarter. Glass Wealth Management Co LLC increased its holdings in Lam Research by 1.6% during the 1st quarter. Glass Wealth Management Co LLC now owns 39,193 shares of the semiconductor company’s stock valued at $8,374,000 after acquiring an additional 599 shares in the last quarter. Finally, Sovran Advisors LLC raised its position in Lam Research by 24.3% during the first quarter. Sovran Advisors LLC now owns 10,944 shares of the semiconductor company’s stock worth $2,338,000 after acquiring an additional 2,139 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other news, SVP Neil J. Fernandes sold 7,659 shares of the company’s stock in a transaction dated 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 owned 58,470 shares of the company’s stock, valued at $18,102,312. This represents a 11.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ava Harter sold 6,010 shares of the stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $258.66, for a total transaction of $1,554,546.60. Following the transaction, the insider owned 53,205 shares in the company, valued at approximately $13,762,005.30. The trade was a 10.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 86,339 shares of company stock worth $27,680,267 in the last 90 days. 0.31% of the stock is owned by company insiders.

Lam Research News Roundup

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

• Positive Sentiment: Mizuho raised its price target on Lam Research to $400 from $380 and kept an outperform rating, adding to the bullish analyst momentum around the stock.
• Positive Sentiment: Stifel Nicolaus boosted its target to $425 from $325 and reiterated a buy rating, citing above-consensus estimates and suggesting further upside for LRCX.
• Positive Sentiment: Needham also increased its target to $390 from $300 and maintained a buy rating, reinforcing the view that Lam Research is well positioned to benefit from AI-driven chip demand.
• Positive Sentiment: Additional coverage highlighted Lam Research as a beneficiary of broader AI infrastructure spending and possible easing of China-related chip restrictions, which could improve sentiment across semiconductor equipment names. Does AI Rebound and China Chip Access Shift Change The Bull Case For Lam Research (LRCX)?
• Neutral Sentiment: Lam Research announced that it will host its June quarter financial conference call and webcast on July 29, giving investors a near-term catalyst to watch.
• Neutral Sentiment: Short-interest data showed no meaningful change, with reported short interest at zero shares, so it does not appear to be a factor driving the move.

Analysts Set New Price Targets

Several analysts have recently commented on LRCX shares. Evercore increased their price target on shares of Lam Research from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Stifel Nicolaus upped their target price on Lam Research from $325.00 to $425.00 and gave the company a “buy” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft raised their price target on Lam Research from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Seaport Research Partners initiated coverage on Lam Research in a research report on Monday, May 4th. They issued a “buy” rating and a $300.00 price objective on the stock. Finally, Needham & Company LLC lifted their price objective on Lam Research from $300.00 to $390.00 and gave the stock a “buy” rating in a research report on Friday. Twenty-eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $350.81.

Lam Research Trading Down 0.8%

LRCX traded down $2.84 during trading on Friday, hitting $350.33. The company’s stock had a trading volume of 6,880,746 shares, compared to its average volume of 13,276,366. Lam Research Corporation has a twelve month low of $90.93 and a twelve month high of $438.50. The stock has a market cap of $438.11 billion, a PE ratio of 66.10, a PEG ratio of 2.07 and a beta of 1.80. The firm’s 50 day moving average price is $334.89 and its 200-day moving average price is $263.61. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.54 and a quick ratio of 1.77.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.11. The business had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Lam Research had a return on equity of 66.21% and a net margin of 30.94%.The business’s revenue was up 23.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.04 earnings per share. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. On average, analysts expect that Lam Research Corporation will post 5.68 earnings per share for the current year.

Lam Research Announces Dividend

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

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.