Lam Research (NASDAQ:LRCX) Stock Price Up 5% – What’s Next?

Lam Research Corporation (NASDAQ:LRCX) shares rose 5% on Tuesday . The company traded as high as $328.14 and last traded at $322.00. Approximately 11,815,748 shares changed hands during trading, an increase of 4% from the average daily volume of 11,325,793 shares. The stock had previously closed at $306.76.

Lam Research News Summary

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

• Positive Sentiment: Lam Research recently joined the AI Materials Foundry as a founding partner, strengthening its exposure to an AI-focused consortium aimed at discovering new semiconductor materials and reinforcing the company’s long-term AI growth story. Lam Research (LRCX) Following AI Materials Foundry Move Looks About Right
• Positive Sentiment: Analysts expect Lam Research to post earnings growth in its upcoming report, with coverage suggesting the company has a solid setup for a potential beat next week. Lam Research (LRCX) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Positive Sentiment: Wall Street remains broadly bullish on Lam Research, with brokerage recommendations still favoring the stock and reinforcing investor confidence in its growth outlook. Is It Worth Investing in Lam Research (LRCX) Based on Wall Street’s Bullish Views?
• Positive Sentiment: Semiconductor stocks, including Lam Research, rebounded as dip buyers returned to the sector on optimism around the AI investment cycle and valuations after a recent selloff. Intel, KLA Corporation, Lam Research, Marvell Technology, and Micron Shares Skyrocket, What You Need To Know
• Positive Sentiment: Additional coverage highlighted Lam Research as a solid growth stock, with its business fundamentals and AI-related tailwinds keeping the long-term investment case intact. Looking for a Growth Stock? 3 Reasons Why Lam Research (LRCX) is a Solid Choice
• Neutral Sentiment: One article compared Lam Research with Applied Materials, but it did not point to a clear stock-moving catalyst for LRCX.
• Negative Sentiment: Despite the positive longer-term setup, Lam Research has recently seen a sharp cooling in its share price over the past month, suggesting some investors are taking profits after a strong run. Lam Research (LRCX) Following AI Materials Foundry Move Looks About Right

Wall Street Analysts Forecast Growth

Several research firms have commented on LRCX. Bank of America increased their price objective on shares of Lam Research from $330.00 to $480.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. The Goldman Sachs Group restated a “buy” rating and issued a $290.00 target price on shares of Lam Research in a research note on Thursday, April 23rd. Wall Street Zen lowered Lam Research from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Oppenheimer reaffirmed an “outperform” rating and set a $400.00 price target (up from $330.00) on shares of Lam Research in a research report on Monday, June 15th. Finally, Barclays reiterated an “overweight” rating and set a $335.00 price target (up from $275.00) on shares of Lam Research in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and five have assigned a Hold rating to the company’s stock. 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 Trading Down 0.8%

The company has a quick ratio of 1.77, a current ratio of 2.54 and a debt-to-equity ratio of 0.35. The firm has a market cap of $399.29 billion, a P/E ratio of 60.24, a price-to-earnings-growth ratio of 1.91 and a beta of 1.80. The firm’s 50-day simple moving average is $340.92 and its 200 day simple moving average is $272.64.

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

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 17th were paid a $0.26 dividend. The ex-dividend date was Wednesday, June 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.3%. Lam Research’s payout ratio is presently 19.62%.

Insider Transactions at Lam Research

In related news, SVP Neil J. Fernandes sold 7,659 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $309.60, for a total value of $2,371,226.40. Following the sale, the senior vice president directly owned 58,470 shares in the company, valued at approximately $18,102,312. The trade was a 11.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ava Harter sold 6,010 shares of Lam Research stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $258.66, for a total transaction of $1,554,546.60. Following the completion of the transaction, the insider owned 53,205 shares of the company’s stock, valued at $13,762,005.30. The trade was a 10.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 104,621 shares of company stock worth $33,804,737. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Hedge funds have recently made changes to their positions in the stock. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Lam Research during the 2nd quarter valued at $370,000. Warren Street Wealth Advisors LLC lifted its holdings in Lam Research by 3.3% during the 2nd quarter. Warren Street Wealth Advisors LLC now owns 2,186 shares of the semiconductor company’s stock worth $947,000 after purchasing an additional 69 shares in the last quarter. ABN Amro Investment Solutions boosted its stake in Lam Research by 7.9% in the 2nd quarter. ABN Amro Investment Solutions now owns 134,707 shares of the semiconductor company’s stock worth $58,373,000 after purchasing an additional 9,903 shares during the period. Apollon Financial LLC boosted its stake in Lam Research by 7.9% in the 2nd quarter. Apollon Financial LLC now owns 1,650 shares of the semiconductor company’s stock worth $715,000 after purchasing an additional 121 shares during the period. Finally, SBI Securities Co. Ltd. grew its holdings in Lam Research by 14.1% during the 2nd quarter. SBI Securities Co. Ltd. now owns 12,127 shares of the semiconductor company’s stock valued at $5,255,000 after buying an additional 1,501 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

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.