Lam Research Corporation $LRCX Stock: PBU The Pension Fund of Early Childhood & Youth Educators Raises Holdings

PBU The Pension Fund of Early Childhood & Youth Educators raised its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 3.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 137,315 shares of the semiconductor company’s stock after acquiring an additional 4,648 shares during the period. Lam Research makes up approximately 1.0% of PBU The Pension Fund of Early Childhood & Youth Educators’ investment portfolio, making the stock its 16th largest position. PBU The Pension Fund of Early Childhood & Youth Educators’ holdings in Lam Research were worth $45,109,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Polaris Financial Partners bought a new stake in shares of Lam Research in the third quarter valued at approximately $4,814,000. Bank of America Corp DE grew its position in Lam Research by 5.5% during the second quarter. Bank of America Corp DE now owns 11,244,147 shares of the semiconductor company’s stock worth $4,872,426,000 after buying an additional 584,489 shares in the last quarter. Rokos Capital Management LLP increased its stake in Lam Research by 42.0% during the 1st quarter. Rokos Capital Management LLP now owns 259,921 shares of the semiconductor company’s stock worth $55,532,000 after acquiring an additional 76,840 shares during the period. Aware Super Pty Ltd as trustee of Aware Super bought a new position in Lam Research during the 1st quarter worth $59,973,000. Finally, Meeder Asset Management Inc. increased its stake in Lam Research by 50.7% during the 1st quarter. Meeder Asset Management Inc. now owns 37,383 shares of the semiconductor company’s stock worth $7,987,000 after acquiring an additional 12,574 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Morgan Stanley set a $339.00 target price on Lam Research and gave the company an “overweight” rating in a research report on Thursday, October 22nd. Weiss Ratings cut Lam Research from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Berenberg Bank set a $420.00 price target on Lam Research in a research report on Wednesday, September 9th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $350.00 price target (down from $450.00) on shares of Lam Research in a research note on Thursday, July 30th. Finally, Jefferies Financial Group set a $335.00 price objective on shares of Lam Research and gave the stock a “buy” rating in a research report on Thursday, July 30th. Twenty-six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $357.57.

Lam Research Stock Performance

Shares of NASDAQ:LRCX opened at $233.78 on Friday. Lam Research Corporation has a 1 year low of $135.50 and a 1 year high of $438.50. The stock has a market capitalization of $292.03 billion, a price-to-earnings ratio of 34.84, a price-to-earnings-growth ratio of 0.87 and a beta of 1.97. 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 company’s 50 day simple moving average is $279.00 and its 200 day simple moving average is $283.79.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.02. The firm had revenue of $8.22 billion during the quarter, compared to analysts’ expectations of $8.14 billion. Lam Research had a return on equity of 72.15% and a net margin of 32.34%. The company’s quarterly revenue was up 54.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.26 earnings per share. As a group, research analysts predict that Lam Research Corporation will post 9.60 EPS for the current fiscal year.

Lam Research Dividend Announcement

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

Lam Research announced that its board has authorized a share repurchase plan on Thursday, November 5th that authorizes the company to buy back $25 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Latest Lam Research News

Here’s some of the latest news about LRCX:

• Positive Sentiment: Wells Fargo lifted its view on U.S. AI infrastructure to neutral from negative after a sector selloff. Lam was also included among AI stocks to consider, while Bernstein analyst Stacy Rasgon reportedly remains positive despite the stock’s steep recent decline. This may help bolster confidence in demand for semiconductor equipment tied to AI. Lam Research article
• Neutral Sentiment: Lam and LEGO Education announced a multiyear STEM education partnership, including a $15 million Lam Foundation grant over four years. It may support Lam’s reputation and future workforce development, but the commitment is unlikely to materially change near-term earnings. Lam and LEGO partnership announcement
• Negative Sentiment: Despite a recent multi-session rebound, Lam remains below its 50-day moving average, and reports describe a roughly 34% decline over the past month. The sharp volatility and lingering pressure on semiconductor-equipment shares may continue to weigh on sentiment. Lam Research share performance article

Insiders Place Their Bets

In related news, insider Ava Harter sold 5,000 shares of the company’s stock in a transaction on Monday, August 31st. The stock was 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 directly owned 42,462 shares in the company, valued at $12,843,056.52. This represents a 10.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 9,557 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $314.74, for a total value of $3,007,970.18. Following the completion of the sale, the director directly owned 20,995 shares in the company, valued at $6,607,966.30. This trade represents a 31.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 14,573 shares of company stock valued at $4,523,606 in the last three months. 0.31% of the stock is owned by insiders.

Lam Research Company Profile

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.