Lam Research Corporation $LRCX Stock Position Lowered by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. reduced its position in Lam Research Corporation (NASDAQ:LRCX) by 32.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 468,247 shares of the semiconductor company’s stock after selling 222,487 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in Lam Research were worth $153,625,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Lam Research by 2.6% during the second quarter. State Street Corp now owns 60,704,130 shares of the semiconductor company’s stock worth $26,320,468,000 after acquiring an additional 1,545,830 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of 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 acquiring an additional 584,489 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Lam Research by 411.8% during the second quarter. Van ECK Associates Corp now owns 11,089,395 shares of the semiconductor company’s stock worth $4,805,368,000 after acquiring an additional 8,922,854 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Lam Research during the second quarter worth about $3,777,585,000. Finally, Amundi raised its holdings in Lam Research by 23.7% during the first quarter. Amundi now owns 10,147,479 shares of the semiconductor company’s stock worth $2,168,107,000 after purchasing an additional 1,942,862 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Key Lam Research News

Investors following LRCX have been watching these news items:

• Positive Sentiment: Wells Fargo lifted its view on U.S. AI infrastructure to neutral from negative after a sector selloff. Lam was also included among AI stocks to consider, while Bernstein analyst Stacy Rasgon reportedly remains positive despite the stock’s steep recent decline. This may help bolster confidence in demand for semiconductor equipment tied to AI. Lam Research article
• Positive Sentiment: Lam’s board authorized up to $25 billion in share repurchases and reaffirmed its quarterly dividend of $0.33 per share. Buybacks can support shareholder returns and signal management confidence, though the authorization does not guarantee purchases at a particular pace. Lam Research buyback article
• Negative Sentiment: Despite a recent multi-session rebound, Lam remains below its 50-day moving average, and reports describe a roughly 34% decline over the past month. The sharp volatility and lingering pressure on semiconductor-equipment shares may continue to weigh on sentiment. Lam Research share performance article

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Weiss Ratings downgraded shares of Lam Research from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Morgan Stanley set a $339.00 price objective on Lam Research and gave the company an “overweight” rating in a report on Thursday, October 22nd. Evercore set a $315.00 target price on Lam Research in a research report on Tuesday, October 20th. Bank of America reissued a “buy” rating and set a $345.00 target price on shares of Lam Research in a research note on Thursday, October 22nd. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $350.00 target price (down from $450.00) on shares of Lam Research in a research note on Thursday, July 30th. Twenty-six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $357.57.

Insider Activity

In other news, Director Bethany Mayer sold 9,557 shares of Lam Research 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 completion of the sale, the director directly owned 20,995 shares in the company, valued at approximately $6,607,966.30. This trade represents a 31.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ava Harter sold 5,000 shares of Lam Research stock in a transaction that occurred 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 sale, the insider owned 42,462 shares of the company’s stock, valued at approximately $12,843,056.52. The trade was a 10.53% 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. Insiders have sold 14,573 shares of company stock worth $4,523,606 over the last 90 days. 0.31% of the stock is currently owned by company insiders.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $233.78 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.86 and a current ratio of 2.48. Lam Research Corporation has a one year low of $135.50 and a one year high of $438.50. The firm has a market capitalization of $292.03 billion, a P/E ratio of 34.89, a PEG ratio of 0.87 and a beta of 1.97. The company’s fifty day moving average is $279.00 and its two-hundred day moving average is $283.79.

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

Lam Research Dividend Announcement

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

Lam Research declared that its board has authorized a stock repurchase plan on Thursday, November 5th that permits the company to repurchase $25 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 9% of its stock through open market purchases. Share repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

About Lam Research

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.