Jennison Associates LLC Buys 2,523,351 Shares of Lam Research Corporation $LRCX

Jennison Associates LLC boosted its stake in Lam Research Corporation (NASDAQ:LRCX) by 296.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,373,306 shares of the semiconductor company’s stock after buying an additional 2,523,351 shares during the quarter. Jennison Associates LLC owned approximately 0.27% of Lam Research worth $720,740,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. PMV Capital Advisers LLC bought a new stake in shares of Lam Research in the 4th quarter worth $25,000. Bayban bought a new position in shares of Lam Research during the fourth quarter valued at about $26,000. Vermillion Wealth Management Inc. purchased a new position in Lam Research during the first quarter worth about $26,000. Cedar Mountain Advisors LLC grew its position in Lam Research by 242.9% in the 1st quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 85 shares in the last quarter. Finally, Triumph Capital Management bought a new stake in Lam Research in the 3rd quarter worth about $27,000. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Performance

Shares of LRCX opened at $313.30 on Friday. Lam Research Corporation has a 1 year low of $90.93 and a 1 year high of $438.50. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.54 and a quick ratio of 1.77. The stock’s fifty day moving average price is $339.57 and its two-hundred day moving average price is $268.94. The firm has a market cap of $391.80 billion, a PE ratio of 59.11, a PEG ratio of 1.85 and a beta of 1.80.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.11. Lam Research had a return on equity of 66.21% and a net margin of 30.94%.The company had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the prior year, the company earned $1.04 EPS. The firm’s quarterly revenue was up 23.8% compared to the same quarter last year. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. On average, equities research analysts forecast that Lam Research Corporation will post 5.68 EPS for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Wednesday, June 17th were paid a $0.26 dividend. The ex-dividend date was Wednesday, June 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.3%. Lam Research’s dividend payout ratio (DPR) is presently 19.62%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on LRCX shares. Erste Group Bank cut shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Needham & Company LLC increased their price target on Lam Research from $300.00 to $390.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Sanford C. Bernstein increased their price target on Lam Research from $325.00 to $340.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. Royal Bank Of Canada lifted their price target on Lam Research from $290.00 to $310.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Finally, New Street Research boosted their price objective on Lam Research from $235.00 to $280.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Twenty-eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $358.67.

Insider Buying and Selling at Lam Research

In related news, SVP Neil J. Fernandes sold 7,659 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $309.60, for a total transaction of $2,371,226.40. Following the sale, the senior vice president directly owned 58,470 shares in the company, valued at approximately $18,102,312. This represents a 11.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Abhijit Y. Talwalkar sold 18,282 shares of the firm’s stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $335.00, for a total transaction of $6,124,470.00. Following the completion of the transaction, the director directly owned 87,142 shares of the company’s stock, valued at approximately $29,192,570. This trade represents a 17.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 104,621 shares of company stock worth $33,804,737. 0.31% of the stock is currently owned by company insiders.

Lam Research Profile

Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.

Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.