Lam Research Corporation $LRCX Stake Boosted by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System increased its stake in Lam Research Corporation (NASDAQ:LRCX) by 85.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,655 shares of the semiconductor company’s stock after buying an additional 57,361 shares during the period. Lam Research accounts for 0.6% of Maryland State Retirement & Pension System’s portfolio, making the stock its 29th largest position. Maryland State Retirement & Pension System’s holdings in Lam Research were worth $40,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of LRCX. State Street Corp boosted its position in Lam Research by 2.6% during the 2nd quarter. State Street Corp now owns 60,704,130 shares of the semiconductor company’s stock valued at $26,320,468,000 after acquiring an additional 1,545,830 shares in the last quarter. Bank of America Corp DE raised its position in shares of Lam Research by 5.5% in the 2nd quarter. Bank of America Corp DE now owns 11,244,147 shares of the semiconductor company’s stock worth $4,872,426,000 after acquiring an additional 584,489 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Lam Research by 411.8% in the 2nd 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 in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Lam Research in the 2nd quarter worth approximately $3,777,585,000. Finally, Amundi lifted its stake in shares of Lam Research by 23.7% in the 1st quarter. Amundi now owns 10,147,479 shares of the semiconductor company’s stock valued at $2,168,107,000 after purchasing an additional 1,942,862 shares during the period. 84.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LRCX has been the topic of several research reports. B. Riley Financial dropped their price target on Lam Research from $338.00 to $310.00 and set a “buy” rating on the stock in a research report on Monday. Evercore set a $315.00 price objective on Lam Research in a report on Tuesday, October 20th. Weiss Ratings lowered Lam Research from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Fundamental Research set a $390.00 price objective on Lam Research in a research report on Thursday, October 1st. Finally, UBS Group restated a “buy” rating and set a $400.00 target price (down from $425.00) on shares of Lam Research in a report on Thursday, October 22nd. Twenty-six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average price target of $357.57.

Key Headlines Impacting Lam Research

These are some of the LRCX headlines that stood out recently:

• Positive Sentiment: The board authorized up to $25 billion in share repurchases with no set end date and reaffirmed the $0.33 quarterly dividend. The buyback could support shareholder returns and demand for the stock, although it does not by itself resolve concerns about growth. Read More.
• 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.

Insider Activity at Lam Research

In related news, insider Ava Harter sold 5,000 shares of the firm’s 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 completion of the sale, the insider owned 42,462 shares of the company’s stock, valued at $12,843,056.52. This trade represents a 10.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 9,557 shares of the business’s stock in a transaction that occurred on 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 completion of 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 14,573 shares of company stock worth $4,523,606. Insiders own 0.31% of the company’s stock.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $235.88 on Thursday. Lam Research Corporation has a 1-year low of $135.50 and a 1-year high of $438.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.48 and a quick ratio of 1.86. The business has a fifty day moving average price of $280.09 and a 200-day moving average price of $283.74. The company has a market capitalization of $294.65 billion, a PE ratio of 35.15, a PEG ratio of 0.82 and a beta of 1.97.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results 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. Lam Research had a return on equity of 72.15% and a net margin of 32.34%. The firm had revenue of $8.22 billion during the quarter, compared to analyst estimates of $8.14 billion. During the same quarter in the previous year, the firm earned $1.26 EPS. Lam Research’s quarterly revenue was up 54.4% compared to the same quarter last year. As a group, equities analysts expect that Lam Research Corporation will post 9.60 EPS for the current fiscal year.

Lam Research Dividend Announcement

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

Lam Research announced that its board has approved a share buyback program on Thursday, November 5th that allows the company to repurchase $25 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 9% of its stock through open market purchases. Share repurchase programs are often a sign that the company’s management 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.