Lam Research Corporation $LRCX Stock Acquired by Parallel Advisors LLC

Parallel Advisors LLC lifted its holdings in shares of Lam Research Corporation (NASDAQ:LRCX) by 26.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,466 shares of the semiconductor company’s stock after buying an additional 6,211 shares during the period. Parallel Advisors LLC’s holdings in Lam Research were worth $9,680,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Polaris Financial Partners purchased a new position in Lam Research during the third quarter worth about $4,814,000. Bank of America Corp DE lifted its position in Lam Research by 5.5% in the second quarter. Bank of America Corp DE now owns 11,244,147 shares of the semiconductor company’s stock valued at $4,872,426,000 after purchasing an additional 584,489 shares during the period. Rokos Capital Management LLP boosted its holdings in Lam Research by 42.0% in the 1st quarter. Rokos Capital Management LLP now owns 259,921 shares of the semiconductor company’s stock valued at $55,532,000 after purchasing an additional 76,840 shares in the last quarter. Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in Lam Research in the 1st quarter valued at approximately $59,973,000. Finally, Meeder Asset Management Inc. increased its position in Lam Research by 50.7% during the 1st quarter. Meeder Asset Management Inc. now owns 37,383 shares of the semiconductor company’s stock worth $7,987,000 after purchasing an additional 12,574 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

NASDAQ LRCX traded up $15.24 during mid-day trading on Friday, hitting $200.44. The stock had a trading volume of 17,943,382 shares, compared to its average volume of 10,981,131. Lam Research Corporation has a 52-week low of $135.50 and a 52-week high of $438.50. The company has a market cap of $250.38 billion, a price-to-earnings ratio of 29.87, a P/E/G ratio of 0.84 and a beta of 1.97. The company has a 50 day simple moving average of $284.37 and a 200 day simple moving average of $283.67. 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 (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.02. The firm had revenue of $8.22 billion during the quarter, compared to analysts’ expectations of $8.14 billion. Lam Research had a return on equity of 72.15% and a net margin of 32.34%. Lam Research’s revenue was up 54.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 earnings per share. Equities analysts forecast that Lam Research Corporation will post 9.59 EPS for the current fiscal year.

Lam Research declared that its Board of Directors has authorized a share buyback program on Thursday, November 5th that allows the company to repurchase $25 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 9% of its stock through open market purchases. Share buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Lam Research Announces Dividend

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

More Lam Research News

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

Insider Activity

In other Lam Research news, insider Ava Harter sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $302.46, for a total transaction of $1,512,300.00. Following the completion of the transaction, the insider directly owned 42,462 shares in the company, valued at approximately $12,843,056.52. This trade represents a 10.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 9,557 shares of Lam Research stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the transaction, the director owned 20,995 shares of the company’s stock, valued at approximately $6,607,966.30. The trade was 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.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on LRCX shares. Weiss Ratings downgraded Lam Research from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, September 4th. Wall Street Zen upgraded Lam Research from a “hold” rating to a “buy” rating in a research note on Saturday, October 24th. B. Riley Financial lifted their price target on Lam Research from $350.00 to $390.00 and gave the company a “buy” rating in a research note on Thursday, October 1st. Wells Fargo & Company reaffirmed an “overweight” rating and set a $350.00 price objective (down from $450.00) on shares of Lam Research in a report on Thursday, July 30th. Finally, Needham & Company LLC cut their price objective on Lam Research from $390.00 to $290.00 and set a “buy” rating for the company in a research report on Thursday, October 22nd. Twenty-six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $360.23.

Lam Research Company Profile

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.