Lam Research Corporation $LRCX Stock: Carret Asset Management LLC Cuts Holdings

Carret Asset Management LLC trimmed its holdings in shares of Lam Research Corporation (NASDAQ:LRCX) by 4.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,443 shares of the semiconductor company’s stock after selling 2,625 shares during the quarter. Lam Research accounts for about 1.8% of Carret Asset Management LLC’s portfolio, making the stock its 10th largest position. Carret Asset Management LLC’s holdings in Lam Research were worth $20,513,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in LRCX. William Mack & Associates Inc. bought a new stake in shares of Lam Research in the third quarter worth $25,000. Cedar Mountain Advisors LLC increased its holdings in Lam Research by 242.9% in the first quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 85 shares during the period. Paladin Partners LLC bought a new position in Lam Research during the 2nd quarter worth $26,000. Quintet Private Bank Europe S.A. raised its position in Lam Research by 100.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 100 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 50 shares during the last quarter. Finally, Dakota Community Bank & Trust NA bought a new position in Lam Research during the 3rd quarter worth $33,000. 84.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on LRCX. UBS Group reiterated a “buy” rating and issued a $400.00 price target (down from $425.00) on shares of Lam Research in a research report on Thursday, October 22nd. Evercore set a $315.00 price target on Lam Research in a research note on Tuesday, October 20th. Wall Street Zen upgraded Lam Research from a “hold” rating to a “buy” rating in a research report on Saturday, October 24th. Fundamental Research set a $390.00 price objective on Lam Research in a research note on Thursday, October 1st. Finally, Mizuho cut their price objective on Lam Research from $365.00 to $360.00 and set an “outperform” rating on the stock in a research note on Thursday, October 22nd. Twenty-six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $360.23.

Insider Transactions at Lam Research

In related news, 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 transaction of $1,512,300.00. Following the sale, the insider owned 42,462 shares in the company, valued at $12,843,056.52. This represents a 10.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 9,557 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $314.74, for a total value of $3,007,970.18. Following the sale, the director directly owned 20,995 shares of the company’s stock, valued at $6,607,966.30. This represents a 31.28% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.31% of the stock is owned by insiders.

Lam Research Price Performance

LRCX stock opened at $200.44 on Monday. The firm has a market cap of $250.38 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 0.74 and a beta of 1.97. The company has a quick ratio of 1.86, a current ratio of 2.48 and a debt-to-equity ratio of 0.27. Lam Research Corporation has a 12-month low of $135.50 and a 12-month high of $438.50. The company’s fifty day simple moving average is $284.37 and its 200 day simple moving average is $283.67.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, October 21st. The semiconductor company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.02. Lam Research had a net margin of 32.34% and a return on equity of 72.15%. The business had revenue of $8.22 billion for the quarter, compared to analysts’ expectations of $8.14 billion. During the same quarter in the prior year, the firm posted $1.26 earnings per share. The business’s quarterly revenue was up 54.4% compared to the same quarter last year. On average, analysts expect that Lam Research Corporation will post 9.59 earnings per share for the current year.

Lam Research Announces Dividend

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

Lam Research announced that its Board of Directors has approved a stock repurchase program on Thursday, November 5th that authorizes the company to repurchase $25 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 9% of its stock through open market purchases. Share buyback programs are typically an indication that the company’s management believes its shares are 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.