Midwest Financial Group LLC Sells 2,141 Shares of Lam Research Corporation $LRCX

Midwest Financial Group LLC cut its holdings in shares of Lam Research Corporation (NASDAQ:LRCX) by 77.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 635 shares of the semiconductor company’s stock after selling 2,141 shares during the quarter. Midwest Financial Group LLC’s holdings in Lam Research were worth $275,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of LRCX. State Street Corp grew its position in Lam Research by 0.4% during the third quarter. State Street Corp now owns 59,817,352 shares of the semiconductor company’s stock worth $8,024,684,000 after buying an additional 265,805 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Lam Research by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 33,747,368 shares of the semiconductor company’s stock valued at $5,764,117,000 after acquiring an additional 126,613 shares during the last quarter. Invesco Ltd. boosted its position in Lam Research by 7.7% during the 4th quarter. Invesco Ltd. now owns 22,821,354 shares of the semiconductor company’s stock valued at $3,906,559,000 after buying an additional 1,638,406 shares during the period. Norges Bank purchased a new stake in Lam Research in the 4th quarter worth approximately $3,645,427,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Lam Research by 352.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,695,210 shares of the semiconductor company’s stock worth $2,344,347,000 after purchasing an additional 10,666,540 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the subject of several research reports. UBS Group reissued a “buy” rating and issued a $375.00 target price (up from $310.00) on shares of Lam Research in a research report on Tuesday, June 9th. HSBC reaffirmed a “hold” rating and issued a $333.00 target price on shares of Lam Research in a report on Monday, July 27th. Morgan Stanley lowered their price target on Lam Research from $404.00 to $367.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. The Goldman Sachs Group restated a “buy” rating and issued a $290.00 target price on shares of Lam Research in a report on Thursday, April 23rd. Finally, Susquehanna reissued a “positive” rating and issued a $475.00 target price (up from $385.00) on shares of Lam Research in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and a consensus price target of $358.47.

Lam Research Trading Down 6.3%

Shares of LRCX opened at $307.17 on Thursday. The firm has a market cap of $384.37 billion, a P/E ratio of 53.33, a price-to-earnings-growth ratio of 1.30 and a beta of 1.84. Lam Research Corporation has a 1 year low of $94.11 and a 1 year high of $438.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.63 and a quick ratio of 1.91. The company has a 50 day simple moving average of $339.57 and a two-hundred day simple moving average of $285.35.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.69 by $0.13. The business had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.66 billion. Lam Research had a net margin of 31.27% and a return on equity of 67.60%. The business’s revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.33 EPS. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. On average, equities analysts expect that Lam Research Corporation will post 9.32 earnings per share for the current fiscal year.

Insider Activity at Lam Research

In other news, Director Eric Brandt sold 54,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $350.80, for a total value of $19,118,600.00. Following the completion of the sale, the director directly owned 199,205 shares of the company’s stock, valued at $69,881,114. This trade represents a 21.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Neil J. Fernandes sold 7,659 shares of Lam Research stock in a transaction on Monday, June 1st. The stock was sold at an average price of $309.60, for a total transaction of $2,371,226.40. Following the transaction, the senior vice president directly owned 58,470 shares of the company’s stock, valued at $18,102,312. The trade was a 11.58% 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. Insiders have sold a total of 80,441 shares of company stock valued at $27,614,296 over the last 90 days. 0.31% of the stock is owned by corporate insiders.

About Lam Research

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.