CI Investments Inc. Reduces Stake in Lam Research Corporation $LRCX

CI Investments Inc. reduced its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 14.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 387,416 shares of the semiconductor company’s stock after selling 66,960 shares during the period. CI Investments Inc.’s holdings in Lam Research were worth $82,775,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC increased 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 valued at $1,025,000 after acquiring an additional 12,936 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of Lam Research in the first quarter worth $239,000. Gabelli Funds LLC purchased a new stake in Lam Research during the 2nd quarter worth about $253,000. NewEdge Advisors LLC increased its stake in shares of Lam Research by 2.7% during the second 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. increased its position in shares of Lam Research by 5,206.7% in the 2nd quarter. Osterweis Capital Management Inc. now owns 796 shares of the semiconductor company’s stock valued at $77,000 after purchasing an additional 781 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on LRCX shares. Needham & Company LLC increased their price objective on Lam Research from $300.00 to $390.00 and gave the company a “buy” rating in a report on Friday, July 10th. JPMorgan Chase & Co. lifted their target price on Lam Research from $300.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Jefferies Financial Group lifted their target price on shares of Lam Research from $285.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Morgan Stanley upped their price objective on Lam Research from $331.00 to $404.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Finally, HSBC upped their price objective on shares of Lam Research from $221.00 to $247.00 and gave the stock a “hold” rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus price target of $360.51.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $322.00 on Wednesday. The business’s fifty day moving average price is $340.44 and its two-hundred day moving average price is $271.60. The stock has a market cap of $402.68 billion, a PE ratio of 60.75, a price-to-earnings-growth ratio of 1.82 and a beta of 1.80. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.77 and a current ratio of 2.54. Lam Research Corporation has a one year low of $90.93 and a one year high of $438.50.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.11. Lam Research had a return on equity of 66.21% and a net margin of 30.94%.The company had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the previous year, the firm posted $1.04 earnings per share. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year. On average, analysts forecast that Lam Research Corporation will post 5.68 EPS for the current fiscal year.

Lam Research Dividend Announcement

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

Insider Buying and Selling

In related news, SVP Neil J. Fernandes sold 7,659 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $309.60, for a total value of $2,371,226.40. Following the completion of the transaction, the senior vice president owned 58,470 shares of the company’s stock, valued at approximately $18,102,312. The trade was a 11.58% decrease in their position. The sale 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 Abhijit Y. Talwalkar sold 18,282 shares of the company’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $335.00, for a total transaction of $6,124,470.00. Following the completion of the transaction, the director owned 87,142 shares in the company, valued at approximately $29,192,570. This trade represents a 17.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 104,621 shares of company stock worth $33,804,737. 0.31% of the stock is owned by company insiders.

Key Lam Research News

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

• Positive Sentiment: Semiconductor stocks, including Lam Research, rebounded as dip buyers returned to the group following a sharp sector pullback, supported by continued enthusiasm for the AI investment cycle. Intel, KLA Corporation, Lam Research, Marvell Technology, and Micron Shares Skyrocket, What You Need To Know
• Positive Sentiment: Multiple articles described Lam Research as a solid growth stock and a potential earnings-surprise name, reinforcing bullish expectations for the company’s fundamentals. Looking for a Growth Stock? 3 Reasons Why Lam Research (LRCX) is a Solid Choice
• Positive Sentiment: Lam Research joined the AI Materials Foundry as a founding partner, which could strengthen its long-term role in advanced chip materials and next-generation semiconductor development. Lam Research (LRCX) Joins AI Materials Foundry To Help Shape Future Chip Materials
• Positive Sentiment: Industry outlook pieces continue to favor semiconductor equipment makers like LRCX, citing AI-driven demand for advanced chips, packaging, and memory. Zacks Industry Outlook Highlights Applied Materials, Lam Research and FormFactor
• Neutral Sentiment: Lam Research was cited among stocks likely to deliver earnings upside this season, but this was presented as a broad screen rather than company-specific new information. 4 Top-Ranked Tech Stocks Set to Beat Expectations This Earnings Season
• Neutral Sentiment: Lam Research was also noted as having a “Moderate Buy” consensus from brokerages, which supports the stock but does not by itself explain a sharp move. Lam Research Corporation (NASDAQ:LRCX) Given Consensus Recommendation of “Moderate Buy” by Brokerages
• Negative Sentiment: The stock recently fell more than the broader market in a prior session, reflecting lingering volatility after the semiconductor sector’s steep selloff. Lam Research (LRCX) Dips More Than Broader Market: What You Should Know

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.