Lam Research Corporation $LRCX Shares Sold by Pinnacle Associates Ltd.

by · The Markets Daily

Pinnacle Associates Ltd. reduced its stake in shares of Lam Research Corporation (NASDAQ:LRCX – Free Report) by 19.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 476,943 shares of the semiconductor company’s stock after selling 117,775 shares during the period. Lam Research comprises approximately 0.7% of Pinnacle Associates Ltd.’s holdings, making the stock its 29th biggest position. Pinnacle Associates Ltd.’s holdings in Lam Research were worth $46,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Lam Research by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 129,152,102 shares of the semiconductor company’s stock worth $9,389,358,000 after acquiring an additional 8,364,375 shares in the last quarter. Invesco Ltd. grew its holdings in Lam Research by 2.8% during the 1st quarter. Invesco Ltd. now owns 17,330,771 shares of the semiconductor company’s stock worth $1,259,947,000 after acquiring an additional 472,636 shares in the last quarter. Nordea Investment Management AB grew its holdings in Lam Research by 34.1% during the 2nd quarter. Nordea Investment Management AB now owns 10,594,574 shares of the semiconductor company’s stock worth $1,029,210,000 after acquiring an additional 2,692,189 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Lam Research by 25.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,536,708 shares of the semiconductor company’s stock worth $693,319,000 after acquiring an additional 1,953,221 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Lam Research by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,900,506 shares of the semiconductor company’s stock worth $647,067,000 after acquiring an additional 418,077 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Vahid Vahedi sold 52,190 shares of Lam Research stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $138.90, for a total value of $7,249,191.00. Following the sale, the senior vice president directly owned 251,047 shares in the company, valued at $34,870,428.30. This trade represents a 17.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ava Harter sold 9,010 shares of Lam Research stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $157.47, for a total transaction of $1,418,804.70. Following the completion of the sale, the insider owned 56,786 shares in the company, valued at approximately $8,942,091.42. This represents a 13.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LRCX. Stifel Nicolaus set a $160.00 price objective on shares of Lam Research and gave the stock a “buy” rating in a report on Thursday, October 23rd. Citigroup raised their price target on shares of Lam Research from $120.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Needham & Company LLC raised their price target on shares of Lam Research from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Wells Fargo & Company raised their price target on shares of Lam Research from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 23rd. Finally, Morgan Stanley raised their price target on shares of Lam Research from $125.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $148.54.

Read Our Latest Stock Analysis on Lam Research

Lam Research Trading Up 0.2%

Shares of NASDAQ:LRCX opened at $161.01 on Friday. The company has a market cap of $202.23 billion, a PE ratio of 35.46, a P/E/G ratio of 1.68 and a beta of 1.84. The company’s 50-day moving average price is $127.98 and its 200 day moving average price is $102.36. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $165.22. The company has a quick ratio of 1.60, a current ratio of 2.21 and a debt-to-equity ratio of 0.37.

Lam Research (NASDAQ:LRCX – Get Free Report) last issued its quarterly earnings data on Wednesday, October 22nd. The semiconductor company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.04. The firm had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.23 billion. Lam Research had a net margin of 29.66% and a return on equity of 60.60%. Lam Research’s quarterly revenue was up 27.7% compared to the same quarter last year. During the same period last year, the firm posted $0.86 EPS. Lam Research has set its Q2 2026 guidance at 1.050-1.250 EPS. Sell-side analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, September 24th were given a $0.26 dividend. The ex-dividend date was Wednesday, September 24th. This represents a $1.04 annualized dividend and a yield of 0.6%. This is a boost from Lam Research’s previous quarterly dividend of $0.23. Lam Research’s payout ratio is 22.91%.

Lam Research Company Profile

(Free Report)

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.

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