Arrowstreet Capital Limited Partnership Sells 169,652 Shares of Lam Research Corporation $LRCX

Arrowstreet Capital Limited Partnership reduced its stake in Lam Research Corporation (NASDAQ:LRCX) by 1.3% during the 1st quarter, Holdings Channel reports. The fund owned 13,179,818 shares of the semiconductor company’s stock after selling 169,652 shares during the period. Lam Research comprises about 1.5% of Arrowstreet Capital Limited Partnership’s portfolio, making the stock its 8th biggest position. Arrowstreet Capital Limited Partnership’s holdings in Lam Research were worth $2,816,000,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in LRCX. Fideuram Asset Management Ireland dac bought a new stake in Lam Research during the 4th quarter valued at approximately $10,035,000. Generali Investments Management Co LLC boosted its stake in Lam Research by 62.0% during the fourth quarter. Generali Investments Management Co LLC now owns 36,274 shares of the semiconductor company’s stock valued at $6,209,000 after buying an additional 13,878 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super purchased a new position in Lam Research during the 1st quarter valued at approximately $59,973,000. Krilogy Financial LLC increased its holdings in shares of Lam Research by 19.5% in the 1st quarter. Krilogy Financial LLC now owns 28,111 shares of the semiconductor company’s stock worth $6,006,000 after buying an additional 4,584 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Lam Research during the 1st quarter valued at about $26,489,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Sanford C. Bernstein increased their price target on Lam Research from $325.00 to $340.00 and gave the company an “outperform” rating in a report on Thursday, May 21st. B. Riley Financial raised their price target on shares of Lam Research from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. TD Cowen reiterated a “buy” rating and issued a $400.00 price target (up from $340.00) on shares of Lam Research in a report on Thursday, July 9th. Mizuho upped their target price on Lam Research from $380.00 to $400.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Finally, Rothschild & Co Redburn increased their price target on Lam Research from $305.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $360.51.

Insider Activity at Lam Research

In other Lam Research news, Director Eric Brandt sold 54,500 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $350.80, for a total transaction of $19,118,600.00. Following the sale, the director owned 199,205 shares in the company, valued at approximately $69,881,114. The trade was a 21.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Neil J. Fernandes sold 18,170 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $255.14, for a total value of $4,635,893.80. Following the completion of the transaction, the senior vice president directly owned 66,129 shares in the company, valued at $16,872,153.06. This represents a 21.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 104,621 shares of company stock worth $33,804,737. Corporate insiders own 0.31% of the company’s stock.

Trending Headlines about Lam Research

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

Lam Research Price Performance

NASDAQ LRCX opened at $319.78 on Friday. The firm’s fifty day simple moving average is $341.33 and its two-hundred day simple moving average is $273.59. The company has a current ratio of 2.54, a quick ratio of 1.77 and a debt-to-equity ratio of 0.35. Lam Research Corporation has a 12-month low of $90.93 and a 12-month high of $438.50. The firm has a market capitalization 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.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.11. Lam Research had a return on equity of 66.21% and a net margin of 30.94%.The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter last year, the company earned $1.04 earnings per share. The company’s quarterly revenue was up 23.8% on a year-over-year basis. Analysts forecast that Lam Research Corporation will post 5.68 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 17th were paid 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 dividend payout ratio is presently 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.