StoneRidge PMG Advisors LLC Acquires 7,386 Shares of Lam Research Corporation $LRCX

StoneRidge PMG Advisors LLC acquired a new position in Lam Research Corporation (NASDAQ:LRCX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,386 shares of the semiconductor company’s stock, valued at approximately $2,426,000. Lam Research makes up about 1.6% of StoneRidge PMG Advisors LLC’s investment portfolio, making the stock its 12th biggest position.

Other large investors also recently made changes to their positions in the company. State Street Corp increased its position in Lam Research by 2.6% in the 2nd quarter. State Street Corp now owns 60,704,130 shares of the semiconductor company’s stock valued at $26,320,468,000 after acquiring an additional 1,545,830 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Lam Research by 5.5% in 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 acquiring an additional 584,489 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Lam Research by 411.8% in the second quarter. Van ECK Associates Corp now owns 11,089,395 shares of the semiconductor company’s stock worth $4,805,368,000 after acquiring an additional 8,922,854 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Lam Research during the second quarter worth approximately $3,777,585,000. Finally, Amundi lifted its position in shares of Lam Research by 23.7% during the first quarter. Amundi now owns 10,147,479 shares of the semiconductor company’s stock worth $2,168,107,000 after purchasing an additional 1,942,862 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling

In related news, insider Ava Harter sold 5,000 shares of the 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 in the company, valued at $12,843,056.52. This trade represents a 10.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 9,557 shares of Lam Research stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the transaction, the director directly owned 20,995 shares in the company, valued at $6,607,966.30. The trade was a 31.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LRCX. Fundamental Research set a $390.00 price target on shares of Lam Research in a research note on Thursday, October 1st. Zacks Research cut shares of Lam Research from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 22nd. Wells Fargo & Company reaffirmed an “overweight” rating and set a $350.00 price objective (down from $450.00) on shares of Lam Research in a report on Thursday, July 30th. Wall Street Zen raised Lam Research from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. Finally, Morgan Stanley set a $339.00 price objective on 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 company’s stock. According to data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and an average price target of $360.23.

Lam Research Price Performance

Shares of Lam Research stock opened at $200.44 on Monday. The business has a fifty day simple moving average of $284.37 and a 200 day simple moving average of $283.67. The stock has a market cap of $250.38 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 0.74 and a beta of 1.97. The company has a quick ratio of 1.86, a current ratio of 2.48 and a debt-to-equity ratio of 0.27. Lam Research Corporation has a 12 month low of $135.50 and a 12 month high of $438.50.

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, beating the consensus estimate of $2.18 by $0.02. Lam Research had a return on equity of 72.15% and a net margin of 32.34%. The firm had revenue of $8.22 billion for the quarter, compared to analyst estimates of $8.14 billion. During the same quarter in the prior year, the firm posted $1.26 earnings per share. The company’s quarterly revenue was up 54.4% on a year-over-year basis. Research analysts predict that Lam Research Corporation will post 9.59 EPS for the current year.

Lam Research declared that its Board of Directors has initiated a stock repurchase plan on Thursday, November 5th that permits the company to repurchase $25 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 9% of its stock through open market purchases. Share repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 6th. Stockholders of record on Wednesday, December 2nd will be paid a $0.33 dividend. 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 0.7%. Lam Research’s dividend payout ratio is 19.67%.

Trending Headlines about Lam Research

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

• Positive Sentiment: The authorization allows Lam Research to repurchase up to about 9% of its shares. Investors may view the plan as a sign of management confidence and a potential source of support for per-share earnings. Lam Research Shares Gain on $25 Billion Buyback Authorization
• Positive Sentiment: The company also declared a quarterly dividend of $0.33 per share, payable January 6 to shareholders of record December 2. Lam Research Corporation Announces $25 Billion Share Repurchase Authorization and Declares Quarterly Dividend
• Neutral Sentiment: The buyback has drawn attention to LRCX’s significant presence in semiconductor, technology and Nasdaq-100 funds; overlapping holdings could amplify the stock’s effect on investors’ portfolios in either direction. Own a Semiconductor ETF? Lam Research’s Buyback Move Affects You
• Negative Sentiment: Broader chip-sector volatility remains a risk: recent coverage cited concerns about AI-related spending, possible capital-expenditure slowdowns, regulation and investor profit-taking. Those worries could temper gains if they persist. Chip Stocks Just Had Their Second-Worst Day on Record

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.