Legacy Capital Group California Inc. Sells 3,827 Shares of Lam Research Corporation $LRCX

Legacy Capital Group California Inc. lessened its holdings in Lam Research Corporation (NASDAQ:LRCX) by 43.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 5,069 shares of the semiconductor company’s stock after selling 3,827 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Lam Research were worth $1,083,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC raised its position in shares of Lam Research by 1,032.4% during the fourth quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company’s stock worth $1,025,000 after acquiring an additional 12,936 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of Lam Research in the 1st quarter valued at about $239,000. Gabelli Funds LLC acquired a new stake in Lam Research in the second quarter worth $253,000. NewEdge Advisors LLC raised its stake in Lam Research by 2.7% during the 2nd quarter. NewEdge Advisors LLC now owns 100,528 shares of the semiconductor company’s stock worth $9,785,000 after buying an additional 2,661 shares during the period. Finally, Osterweis Capital Management Inc. raised its position in shares of Lam Research by 5,206.7% during the second quarter. Osterweis Capital Management Inc. now owns 796 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 781 shares during the period. 84.61% of the stock is owned by institutional investors.

Lam Research Price Performance

Shares of LRCX opened at $329.92 on Tuesday. The business has a 50-day simple moving average of $336.33 and a two-hundred day simple moving average of $265.32. The stock has a market cap of $412.59 billion, a PE ratio of 62.25, a PEG ratio of 2.07 and a beta of 1.80. Lam Research Corporation has a 12-month low of $90.93 and a 12-month high of $438.50. The company has a quick ratio of 1.77, a current ratio of 2.54 and a debt-to-equity ratio of 0.35.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 EPS 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 firm had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the previous year, the business earned $1.04 EPS. The business’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. Analysts anticipate that Lam Research Corporation will post 5.68 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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

Insider Activity

In other Lam Research news, Director Eric Brandt sold 54,500 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $350.80, for a total transaction of $19,118,600.00. Following the transaction, the director directly owned 199,205 shares in the company, valued at approximately $69,881,114. This trade represents a 21.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Neil J. Fernandes sold 18,170 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $255.14, for a total value of $4,635,893.80. Following the completion of the transaction, the senior vice president owned 66,129 shares in the company, valued at $16,872,153.06. The trade was a 21.55% decrease in their position. 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. Insiders have sold 86,339 shares of company stock worth $27,680,267 over the last 90 days. 0.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on LRCX shares. Susquehanna restated a “positive” rating and issued a $475.00 price target (up from $385.00) on shares of Lam Research in a report on Tuesday, June 30th. Sanford C. Bernstein increased their price target on shares of Lam Research from $325.00 to $340.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. UBS Group reaffirmed a “buy” rating and issued a $375.00 price objective (up from $310.00) on shares of Lam Research in a research report on Tuesday, June 9th. Raymond James Financial set a $425.00 target price on shares of Lam Research in a report on Wednesday, June 10th. Finally, Cantor Fitzgerald set a $500.00 price target on Lam Research and gave the company an “overweight” rating in a research note on Monday, June 29th. Twenty-eight equities 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 presently has an average rating of “Moderate Buy” and a consensus price target of $350.81.

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.