Lam Research Corporation $LRCX Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp raised its stake in Lam Research Corporation (NASDAQ:LRCX) by 1.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 535,838 shares of the semiconductor company’s stock after buying an additional 8,331 shares during the quarter. Fifth Third Bancorp’s holdings in Lam Research were worth $176,028,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of LRCX. Artemis Wealth Advisors LLC raised its position in Lam Research by 6.2% in the 3rd quarter. Artemis Wealth Advisors LLC now owns 42,500 shares of the semiconductor company’s stock worth $13,962,000 after purchasing an additional 2,500 shares during the last quarter. Endeavor Private Wealth Inc. boosted its position in Lam Research by 25.5% in the 3rd quarter. Endeavor Private Wealth Inc. now owns 1,604 shares of the semiconductor company’s stock valued at $528,000 after buying an additional 326 shares during the last quarter. King Luther Capital Management Corp boosted its position in Lam Research by 28.4% in the 3rd quarter. King Luther Capital Management Corp now owns 108,551 shares of the semiconductor company’s stock valued at $35,660,000 after buying an additional 24,008 shares during the last quarter. Bingham Private Wealth LLC boosted its position in Lam Research by 32.4% in the 3rd quarter. Bingham Private Wealth LLC now owns 784 shares of the semiconductor company’s stock valued at $258,000 after buying an additional 192 shares during the last quarter. Finally, Maryland State Retirement & Pension System boosted its position in Lam Research by 85.2% in the 3rd quarter. Maryland State Retirement & Pension System now owns 124,655 shares of the semiconductor company’s stock valued at $40,950,000 after buying an additional 57,361 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Insider Buying and Selling at Lam Research

In related news, Director Bethany Mayer sold 9,557 shares of the company’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $314.74, for a total value of $3,007,970.18. Following the completion of the sale, the director owned 20,995 shares in the company, valued at $6,607,966.30. This represents a 31.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ava Harter sold 5,000 shares of the company’s stock in a transaction on 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 sale, the insider owned 42,462 shares of the company’s stock, valued at approximately $12,843,056.52. This represents a 10.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 14,573 shares of company stock worth $4,523,606. Company insiders own 0.31% of the company’s stock.

Lam Research Stock Performance

Shares of NASDAQ:LRCX opened at $235.88 on Thursday. The company has a market capitalization of $294.65 billion, a price-to-earnings ratio of 35.15, a P/E/G ratio of 0.82 and a beta of 1.97. The firm’s 50 day simple moving average is $280.09 and its 200 day simple moving average is $283.74. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.48 and a quick ratio of 1.86. Lam Research Corporation has a fifty-two week low of $135.50 and a fifty-two week high of $438.50.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.02. The business had revenue of $8.22 billion for the quarter, compared to analyst estimates of $8.14 billion. Lam Research had a net margin of 32.34% and a return on equity of 72.15%. Lam Research’s quarterly revenue was up 54.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.26 EPS. As a group, sell-side analysts forecast that Lam Research Corporation will post 9.60 earnings per share for the current year.

Lam Research declared that its board has initiated a share repurchase plan on Thursday, November 5th that allows the company to repurchase $25 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 9% of its shares through open market purchases. Share repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 6th. Shareholders of record on Wednesday, December 2nd will be issued a $0.33 dividend. The ex-dividend date is Wednesday, December 2nd. This represents a $1.32 annualized dividend and a yield of 0.6%. Lam Research’s dividend payout ratio (DPR) is 19.67%.

Wall Street Analyst Weigh In

Several research firms have recently commented on LRCX. Jefferies Financial Group set a $335.00 target price on Lam Research and gave the company a “buy” rating in a research note on Thursday, July 30th. Needham & Company LLC cut their price target on Lam Research from $390.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. HSBC reiterated a “hold” rating and issued a $333.00 price target on shares of Lam Research in a report on Monday, July 27th. Zacks Research lowered Lam Research from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 22nd. Finally, Mizuho dropped their price objective on Lam Research from $365.00 to $360.00 and set an “outperform” rating for the company in a report on Thursday, October 22nd. Twenty-six analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $357.57.

Recent Lam Research Headlines

Investors following LRCX have been watching these headlines:

• Positive Sentiment: Gross margin reached a record 52.4% in Q1’27, helped by demand and product mix. ETFs also bought a net $231.4 million of LRCX on Monday, with more funds buying than selling. Read More. · Read More.
• Neutral Sentiment: Lam named longtime employee Kim Tae-won to lead its Korean operations, a region important to the company’s relationships with major chipmakers. The appointment may aid execution but has no clear immediate financial impact. Read More.
• Negative Sentiment: Despite the rebound, LRCX and other equipment stocks had recently suffered steep declines amid concerns about semiconductor spending. Supply constraints could also limit further margin improvement, while ETFs were net sellers on Nov. 6—evidence that sentiment and fund flows have been uneven. Read More. · Read More.

Lam Research 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.