Envestnet Asset Management Inc. Grows Stock Position in Lam Research Corporation $LRCX

Envestnet Asset Management Inc. grew its holdings in shares of Lam Research Corporation (NASDAQ:LRCX) by 3.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,958,917 shares of the semiconductor company’s stock after purchasing an additional 99,166 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Lam Research were worth $1,282,183,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Lam Research during the 4th quarter worth $3,645,427,000. Van ECK Associates Corp increased its stake in shares of Lam Research by 411.8% in the 2nd quarter. Van ECK Associates Corp now owns 11,089,395 shares of the semiconductor company’s stock worth $4,805,368,000 after purchasing an additional 8,922,854 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Lam Research in the 2nd quarter worth $3,777,585,000. Franklin Resources Inc. raised its holdings in Lam Research by 57.0% in the 4th quarter. Franklin Resources Inc. now owns 10,110,560 shares of the semiconductor company’s stock worth $1,730,724,000 after purchasing an additional 3,671,073 shares during the period. Finally, Corient Private Wealth LLC raised its holdings in Lam Research by 235.5% in the 4th quarter. Corient Private Wealth LLC now owns 5,199,441 shares of the semiconductor company’s stock worth $890,040,000 after purchasing an additional 3,649,553 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

LRCX stock traded down $3.68 during trading on Wednesday, reaching $307.28. The company’s stock had a trading volume of 9,124,912 shares, compared to its average volume of 10,898,841. The company has a quick ratio of 1.91, a current ratio of 2.63 and a debt-to-equity ratio of 0.30. The company’s fifty day moving average is $305.28 and its 200-day moving average is $296.62. The company has a market capitalization of $384.51 billion, a P/E ratio of 53.35, a price-to-earnings-growth ratio of 1.20 and a beta of 1.85. Lam Research Corporation has a 1 year low of $125.02 and a 1 year high of $438.50.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.69 by $0.13. The business had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.66 billion. Lam Research had a return on equity of 67.60% and a net margin of 31.27%.The business’s revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.33 earnings per share. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. On average, research analysts expect that Lam Research Corporation will post 9.33 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 23rd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $1.32 dividend on an annualized basis and a yield of 0.4%. This is a boost from Lam Research’s previous quarterly dividend of $0.26. Lam Research’s payout ratio is presently 18.06%.

Wall Street Analyst Weigh In

Several research firms have issued reports on LRCX. TD Cowen reissued a “buy” rating and set a $400.00 price target (up from $340.00) on shares of Lam Research in a report on Thursday, July 9th. Stifel Nicolaus raised their price objective on Lam Research from $325.00 to $425.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Barclays reaffirmed an “overweight” rating and set a $335.00 price objective (up from $275.00) on shares of Lam Research in a research report on Thursday, June 11th. B. Riley Financial cut their price objective on Lam Research from $385.00 to $350.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Finally, Morgan Stanley reduced their target price on shares of Lam Research from $404.00 to $367.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and an average target price of $361.81.

Insider Buying and Selling

In other Lam Research news, insider Ava Harter sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $302.46, for a total value of $1,512,300.00. Following the completion of the transaction, the insider directly owned 42,462 shares in the company, valued at $12,843,056.52. This represents a 10.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through 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 stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the sale, the director directly owned 20,995 shares of the company’s stock, valued at approximately $6,607,966.30. This trade represents a 31.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 32,839 shares of company stock valued at $10,644,740. Corporate insiders own 0.31% of the company’s stock.

Lam Research Profile

Lam Research Corporation is a semiconductor equipment company that develops and manufactures systems used in the fabrication of integrated circuits. Its equipment supports key wafer-processing steps, including deposition, etch, wafer cleaning, and related processes used to create and connect the microscopic features found on semiconductor devices.

The company serves semiconductor manufacturers producing a range of products, including memory, logic, and specialty chips. In addition to manufacturing equipment, Lam Research provides installation, maintenance, spare parts, upgrades, technical support, and other services intended to help customers operate and improve their fabrication facilities.

Founded in 1980, Lam Research is headquartered in Fremont, California, and serves customers through a global network of offices, engineering facilities, and support operations.