Prime Capital Investment Advisors LLC Sells 4,979 Shares of Lam Research Corporation $LRCX

Prime Capital Investment Advisors LLC lowered its stake in Lam Research Corporation (NASDAQ:LRCX) by 7.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,627 shares of the semiconductor company’s stock after selling 4,979 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Lam Research were worth $20,902,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in LRCX. Van ECK Associates Corp increased 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 valued at $4,805,368,000 after acquiring an additional 8,922,854 shares during the period. Bank of New York Mellon Corp acquired a new stake in Lam Research during the 2nd quarter worth about $3,777,585,000. Jennison Associates LLC grew its stake in Lam Research by 296.9% during the 1st quarter. Jennison Associates LLC now owns 3,373,306 shares of the semiconductor company’s stock valued at $720,740,000 after purchasing an additional 2,523,351 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Lam Research by 1,994.3% in the first quarter. Assenagon Asset Management S.A. now owns 2,116,233 shares of the semiconductor company’s stock valued at $452,154,000 after purchasing an additional 2,015,188 shares during the period. Finally, California Public Employees Retirement System increased its holdings in shares of Lam Research by 50.6% in the first quarter. California Public Employees Retirement System now owns 5,870,899 shares of the semiconductor company’s stock valued at $1,254,376,000 after purchasing an additional 1,972,277 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Ava Harter sold 5,000 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $302.46, for a total value of $1,512,300.00. Following the completion of the transaction, the insider owned 42,462 shares of the company’s stock, valued at approximately $12,843,056.52. This represents a 10.53% decrease in their position. The transaction was disclosed in a document filed 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 Bethany Mayer sold 9,557 shares of the stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $314.74, for a total value of $3,007,970.18. Following the transaction, the director owned 20,995 shares in the company, valued at $6,607,966.30. This represents a 31.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LRCX. Weiss Ratings cut Lam Research from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, September 4th. Needham & Company LLC reiterated a “buy” rating and issued a $390.00 price target on shares of Lam Research in a report on Thursday, July 30th. Bank of America lifted their price objective on shares of Lam Research from $330.00 to $480.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Mizuho dropped their price objective on shares of Lam Research from $370.00 to $365.00 and set an “outperform” rating on the stock in a report on Tuesday, August 25th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $375.00 price objective on shares of Lam Research in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and an average price target of $365.07.

Lam Research Stock Performance

NASDAQ LRCX traded down $7.64 during mid-day trading on Tuesday, reaching $264.56. 3,768,790 shares of the stock were exchanged, compared to its average volume of 10,640,072. The company has a market capitalization of $331.08 billion, a P/E ratio of 45.96, a P/E/G ratio of 1.05 and a beta of 1.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.91 and a current ratio of 2.63. The business’s 50 day moving average is $308.34 and its 200-day moving average is $309.21. Lam Research Corporation has a 1 year low of $135.50 and a 1 year high of $438.50.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.13. The company had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.66 billion. Lam Research had a net margin of 31.27% and a return on equity of 67.60%. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.33 earnings per share. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. On average, equities research analysts forecast that Lam Research Corporation will post 9.34 EPS for the current fiscal year.

Lam Research Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Wednesday, September 23rd were paid a $0.33 dividend. The ex-dividend date was Wednesday, September 23rd. This represents a $1.32 annualized dividend and a dividend yield of 0.5%. This is a boost from Lam Research’s previous quarterly dividend of $0.26. Lam Research’s dividend payout ratio (DPR) is presently 22.92%.

Key Headlines Impacting Lam Research

Here are the key news stories impacting Lam Research this week:

• Positive Sentiment: Analysts expect Lam Research to potentially exceed quarterly earnings estimates again. The company has a strong earnings-surprise history, while favorable Earnings ESP indicators suggest estimates may be too conservative. Why Lam Research is poised to beat earnings estimates again
• Positive Sentiment: Recent results support the bullish case: Lam reported record quarterly revenue of $6.72 billion, up 30% year over year, and earnings of $1.82 per share, above consensus. Demand tied to artificial intelligence, advanced memory, 5G and automotive chips is providing visibility for equipment and service revenue.
• Positive Sentiment: Deutsche Bank reportedly expects strong results, helping fuel optimism that the current selloff has created an attractive entry point. Analysts are also watching whether rising DRAM spending and advanced packaging demand support the company’s growth outlook. Lam Research stock jumps ahead of earnings

Lam Research Profile

Lam Research Corporation (NASDAQ:LRCX) is a semiconductor equipment company that develops and manufactures systems used to fabricate integrated circuits. Its technologies support key stages of wafer processing, helping semiconductor manufacturers create the increasingly complex structures found in memory, logic and other types of chips.

The company’s product portfolio includes etch systems, which selectively remove materials from wafers; deposition systems, which apply thin films; and cleaning solutions used to remove contaminants and residue during manufacturing.