Lam Research Corporation $LRCX Shares Sold by Novem Group

Novem Group cut its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 27.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,029 shares of the semiconductor company’s stock after selling 2,265 shares during the period. Novem Group’s holdings in Lam Research were worth $2,612,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in LRCX. Brighton Jones LLC boosted its holdings in Lam Research by 1,032.4% in the fourth quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company’s stock valued at $1,025,000 after acquiring an additional 12,936 shares during the last quarter. Caxton Associates LLP acquired a new stake in Lam Research during the first quarter worth about $239,000. Gabelli Funds LLC acquired a new stake in Lam Research during the second quarter worth about $253,000. NewEdge Advisors LLC raised its holdings in shares of Lam Research by 2.7% in the 2nd quarter. NewEdge Advisors LLC now owns 100,528 shares of the semiconductor company’s stock worth $9,785,000 after purchasing an additional 2,661 shares during the period. Finally, Osterweis Capital Management Inc. raised its holdings in shares of Lam Research by 5,206.7% in the 2nd quarter. Osterweis Capital Management Inc. now owns 796 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 781 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Neil J. Fernandes sold 7,659 shares of the 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 transaction, the senior vice president owned 58,470 shares of the company’s stock, valued at approximately $18,102,312. This trade represents a 11.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Brandt sold 54,500 shares of Lam Research stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $350.80, for a total value of $19,118,600.00. Following the completion of the transaction, the director owned 199,205 shares of the company’s stock, valued at $69,881,114. This trade represents a 21.48% 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 90 days, insiders have sold 80,441 shares of company stock worth $27,614,296. 0.31% of the stock is currently owned by corporate insiders.

Lam Research Stock Down 6.3%

Shares of NASDAQ:LRCX opened at $307.17 on Thursday. The firm has a market cap of $384.37 billion, a PE ratio of 53.33, a price-to-earnings-growth ratio of 1.30 and a beta of 1.84. The company has a fifty day simple moving average of $339.57 and a 200 day simple moving average of $285.35. The company has a current ratio of 2.63, a quick ratio of 1.91 and a debt-to-equity ratio of 0.30. Lam Research Corporation has a 12-month low of $94.11 and a 12-month high of $438.50.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.13. The firm had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.66 billion. Lam Research had a net margin of 31.27% and a return on equity of 67.60%. The firm’s revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.33 EPS. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. On average, equities research analysts anticipate that Lam Research Corporation will post 9.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LRCX. New Street Research boosted their target price on Lam Research from $235.00 to $280.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Zacks Research raised shares of Lam Research from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $390.00 price target on shares of Lam Research in a research report on Thursday, July 30th. Berenberg Bank increased their price objective on shares of Lam Research from $265.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Finally, Weiss Ratings lowered shares of Lam Research from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $358.47.

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.