Bank of Nova Scotia Raises Stock Holdings in Lam Research Corporation $LRCX

Bank of Nova Scotia raised its position in Lam Research Corporation (NASDAQ:LRCX) by 9.0% during the first quarter, Holdings Channel.com reports. The fund owned 939,483 shares of the semiconductor company’s stock after purchasing an additional 77,800 shares during the quarter. Bank of Nova Scotia’s holdings in Lam Research were worth $200,731,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Gibbs Wealth Management bought a new position in Lam Research in the 1st quarter worth $884,000. GSG Advisors LLC lifted its holdings in shares of Lam Research by 3.1% during the first quarter. GSG Advisors LLC now owns 1,387 shares of the semiconductor company’s stock valued at $296,000 after purchasing an additional 42 shares during the last quarter. Militia Capital Management LLC purchased a new position in Lam Research during the first quarter valued at $218,000. WealthCollab LLC raised its position in shares of Lam Research by 28.8% in the 1st quarter. WealthCollab LLC now owns 313 shares of the semiconductor company’s stock worth $67,000 after purchasing an additional 70 shares during the last quarter. Finally, First Citizens Bank & Trust Co. lifted its stake in shares of Lam Research by 2.1% in the first quarter. First Citizens Bank & Trust Co. now owns 113,479 shares of the semiconductor company’s stock worth $24,246,000 after buying an additional 2,316 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price target on Lam Research from $300.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Needham & Company LLC boosted their price objective on shares of Lam Research from $300.00 to $390.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Bank of America boosted their price objective on Lam Research from $330.00 to $480.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. TD Cowen reiterated a “buy” rating and issued a $400.00 price target (up from $340.00) on shares of Lam Research in a research note on Thursday, July 9th. Finally, Rothschild & Co Redburn increased their price objective on shares of Lam Research from $305.00 to $420.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $360.51.

Key Lam Research News

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

• Positive Sentiment: Lam Research is being highlighted as one of the semiconductor names likely to benefit from the ongoing AI infrastructure buildout, with investors continuing to favor chip equipment companies tied to advanced manufacturing. Billionaire Investor Philippe Laffont’s Top 5 Tech Picks
• Positive Sentiment: Recent coverage says Lam Research heads into its next earnings report with the ingredients for a possible beat, suggesting expectations are constructive ahead of results. Lam Research (LRCX) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Positive Sentiment: Wall Street’s generally bullish view on Lam Research is another supportive factor, with analyst sentiment implying confidence in the company’s longer-term fundamentals. Is It Worth Investing in Lam Research (LRCX) Based on Wall Street’s Bullish Views?
• Neutral Sentiment: Lam Research recently joined the AI Materials Foundry as a founding partner, reinforcing its AI relevance, but the article also notes that the stock has cooled recently after a strong run. Lam Research (LRCX) Following AI Materials Foundry Move Looks About Right
• Neutral Sentiment: Broader semiconductor optimism remains intact, with semiconductor ETFs up sharply this year and investors watching Intel’s earnings as a read-through for the group. Semiconductor ETFs Surge Ahead of Intel Earnings
• Negative Sentiment: Some market commentary points to profit-taking in technology stocks ahead of major earnings releases, which can weigh on sentiment across the semiconductor sector, including Lam Research. Nasdaq slips and Dow climbs as investors brace for big tech earnings, Super Micro surges

Insider Activity

In other news, insider Ava Harter sold 6,010 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $258.66, for a total value of $1,554,546.60. Following the sale, the insider owned 53,205 shares of the company’s stock, valued at approximately $13,762,005.30. This represents a 10.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Abhijit Y. Talwalkar sold 18,282 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director owned 87,142 shares of the company’s stock, valued at $29,192,570. This trade represents a 17.34% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 104,621 shares of company stock worth $33,804,737. Insiders own 0.31% of the company’s stock.

Lam Research Stock Performance

NASDAQ LRCX opened at $319.78 on Friday. The company has a market cap of $399.91 billion, a P/E ratio of 60.34, a P/E/G ratio of 1.90 and a beta of 1.80. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.77 and a current ratio of 2.54. The business’s 50 day moving average price is $341.33 and its 200-day moving average price is $273.59. Lam Research Corporation has a fifty-two week low of $90.93 and a fifty-two week high of $438.50.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.11. The company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.70 billion. Lam Research had a return on equity of 66.21% and a net margin of 30.94%.Lam Research’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.04 EPS. Sell-side analysts predict that Lam Research Corporation will post 5.68 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 17th were given a dividend of $0.26 per share. The ex-dividend date was Wednesday, June 17th. This represents a $1.04 dividend on an annualized basis and a yield of 0.3%. Lam Research’s payout ratio is 19.62%.

Lam Research 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.