SummitTX Capital L.P. Acquires New Position in Lam Research Corporation $LRCX

SummitTX Capital L.P. bought a new position in shares of Lam Research Corporation (NASDAQ:LRCX) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,800 shares of the semiconductor company’s stock, valued at approximately $2,094,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fideuram Asset Management Ireland dac acquired a new position in shares of Lam Research in the 4th quarter valued at about $10,035,000. Generali Investments Management Co LLC raised its stake in Lam Research by 62.0% during the fourth quarter. Generali Investments Management Co LLC now owns 36,274 shares of the semiconductor company’s stock worth $6,209,000 after acquiring an additional 13,878 shares during the period. Aware Super Pty Ltd as trustee of Aware Super bought a new position in Lam Research in the first quarter worth about $59,973,000. Krilogy Financial LLC lifted its holdings in Lam Research by 19.5% in the first quarter. Krilogy Financial LLC now owns 28,111 shares of the semiconductor company’s stock worth $6,006,000 after acquiring an additional 4,584 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Lam Research in the first quarter valued at approximately $26,489,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Key Lam Research News

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

• Positive Sentiment: AI data-center construction and increased memory spending are supporting demand for Lam Research’s wafer-fabrication equipment. The company’s prior quarter included $5.84 billion in revenue and record non-GAAP EPS of $1.47, which exceeded estimates by 8.1%. Lam Research Rose on AI Data Center and Memory Spending
• Positive Sentiment: Analysts and market commentary remain constructive on semiconductor capital spending, with AI-related investment and memory demand viewed as important growth drivers for Lam Research heading into earnings. Lam Research to Report Q4 Results Amid Robust AI-Driven Semiconductor Spending
• Neutral Sentiment: Lam Research is scheduled to report fiscal fourth-quarter results after the market closes on July 29. Investors will likely watch revenue, earnings, memory-equipment demand and management’s outlook for continued AI-related spending. Earnings To Watch: Lam Research Reports Q2 Results Tomorrow
• Negative Sentiment: Chip stocks were among the market’s weakest performers during the latest session, placing pressure on Lam Research despite its favorable industry outlook. The upcoming earnings release also creates near-term volatility and disappointment risk, particularly after a strong AI-led rally. Most Stocks Are Higher Despite the S&P 500’s Reversal

Lam Research Stock Performance

Shares of LRCX stock opened at $269.61 on Wednesday. Lam Research Corporation has a 12-month low of $90.93 and a 12-month high of $438.50. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.54 and a quick ratio of 1.77. The firm has a market capitalization of $337.17 billion, a price-to-earnings ratio of 50.87, a price-to-earnings-growth ratio of 1.73 and a beta of 1.80. The business has a 50 day simple moving average of $341.94 and a 200 day simple moving average of $275.43.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders 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 0.4%. The ex-dividend date was Wednesday, June 17th. Lam Research’s payout ratio is 19.62%.

Analyst Upgrades and Downgrades

LRCX has been the subject of several recent research reports. Cantor Fitzgerald set a $500.00 target price on Lam Research and gave the company an “overweight” rating in a report on Monday, June 29th. UBS Group reissued a “buy” rating and issued a $375.00 price target (up from $310.00) on shares of Lam Research in a report on Tuesday, June 9th. Morgan Stanley boosted their price objective on Lam Research from $331.00 to $404.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Wells Fargo & Company restated an “overweight” rating and set a $450.00 price objective (up from $365.00) on shares of Lam Research in a research note on Monday, June 22nd. Finally, Needham & Company LLC increased their target price on Lam Research from $300.00 to $390.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $363.37.

Insider Transactions at Lam Research

In other 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 of the company’s stock, valued at approximately $69,881,114. This trade represents a 21.48% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Lam Research stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $255.14, for a total transaction of $4,635,893.80. Following the sale, the senior vice president owned 66,129 shares in the company, valued at approximately $16,872,153.06. This represents a 21.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 98,611 shares of company stock valued at $32,250,190. 0.31% of the stock is currently owned by corporate insiders.

Lam Research Company 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.