Cornerstone Advisors LLC Purchases New Stake in Lam Research Corporation $LRCX

Cornerstone Advisors LLC purchased a new stake in shares of Lam Research Corporation (NASDAQ:LRCX) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 34,133 shares of the semiconductor company’s stock, valued at approximately $11,213,000.

A number of other institutional investors also recently modified their holdings of the business. Aberdeen Group plc boosted its holdings in shares of Lam Research by 6.5% in the third quarter. Aberdeen Group plc now owns 1,119,657 shares of the semiconductor company’s stock worth $367,819,000 after acquiring an additional 68,352 shares during the period. Moors & Cabot Inc. grew its position in shares of Lam Research by 8.3% in the third quarter. Moors & Cabot Inc. now owns 20,487 shares of the semiconductor company’s stock valued at $6,730,000 after purchasing an additional 1,577 shares in the last quarter. Valmark Advisers Inc. grew its position in shares of Lam Research by 40.0% in the third quarter. Valmark Advisers Inc. now owns 2,263 shares of the semiconductor company’s stock valued at $743,000 after purchasing an additional 646 shares in the last quarter. William Blair Investment Management LLC raised its stake in shares of Lam Research by 255.9% during the 3rd quarter. William Blair Investment Management LLC now owns 363,995 shares of the semiconductor company’s stock valued at $119,576,000 after purchasing an additional 261,722 shares during the period. Finally, Legacy Trust raised its stake in shares of Lam Research by 20.5% during the 3rd quarter. Legacy Trust now owns 1,500 shares of the semiconductor company’s stock valued at $493,000 after purchasing an additional 255 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Ava Harter sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $302.46, for a total value of $1,512,300.00. Following the sale, the insider directly owned 42,462 shares of the company’s stock, valued at $12,843,056.52. This trade represents a 10.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 that occurred on Wednesday, September 9th. The shares were sold at an average price of $314.74, for a total transaction 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 represents a 31.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 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 Trading Down 3.4%

Shares of LRCX stock opened at $225.92 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.86 and a current ratio of 2.48. Lam Research Corporation has a 52-week low of $135.50 and a 52-week high of $438.50. The company has a market capitalization of $282.21 billion, a PE ratio of 33.67, a price-to-earnings-growth ratio of 0.87 and a beta of 1.97. The business’s fifty day moving average is $277.67 and its 200 day moving average is $283.73.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 21st. The semiconductor company reported $2.20 EPS for the quarter, topping the consensus estimate of $2.18 by $0.02. The business 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 firm’s revenue was up 54.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.26 earnings per share. On average, equities research analysts anticipate that Lam Research Corporation will post 9.60 EPS for the current fiscal year.

Lam Research announced that its board has initiated a share repurchase program on Thursday, November 5th that authorizes the company to repurchase $25 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 9% of its stock through open market purchases. Share buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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 given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Wednesday, December 2nd. Lam Research’s dividend payout ratio (DPR) is 19.67%.

Analyst Ratings Changes

LRCX has been the topic of a number of recent research reports. Fundamental Research set a $390.00 price objective on Lam Research in a report on Thursday, October 1st. UBS Group reiterated a “buy” rating and set a $400.00 price target (down from $425.00) on shares of Lam Research in a research report on Thursday, October 22nd. HSBC reiterated a “hold” rating and set a $333.00 price target on shares of Lam Research in a research report on Monday, July 27th. Mizuho lowered their price target on shares of Lam Research from $365.00 to $360.00 and set an “outperform” rating on the stock in a report on Thursday, October 22nd. Finally, Morgan Stanley set a $339.00 price objective on shares of Lam Research and gave the company an “overweight” rating in a research report on Thursday, October 22nd. Twenty-six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average target price of $357.57.

Trending Headlines about Lam Research

Investors following LRCX have been watching these headlines:

• Positive Sentiment: Lam’s board authorized a share-repurchase program of up to $25 billion and reaffirmed its quarterly dividend at $0.33 per share, providing a potential source of shareholder returns. Article: Lam Research Just Gave Investors Something To Think About
• Positive Sentiment: Bernstein analyst Stacy Rasgon remains favorable on Lam after its steep recent decline, while Wells Fargo’s move to a neutral view on U.S. AI infrastructure suggests a less negative backdrop for the sector. Article: Lam Research Lost About 34% in a Month. Here’s Why Bernstein’s Rasgon Still Likes It
• Negative Sentiment: Lam shares fell alongside Applied Materials and KLA amid technology-sector selling linked to news of NVIDIA CEO Jensen Huang’s departure. The move points to continued sensitivity to AI and semiconductor-sector sentiment. Article: What’s Going On With Lam Research Stock Friday?

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.