3,157 Lam Research Corporation $LRCX Shares Sold by Providence First Trust Co

Providence First Trust Co lowered its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 42.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,319 shares of the semiconductor company’s stock after selling 3,157 shares during the quarter. Providence First Trust Co’s holdings in Lam Research were worth $1,419,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Paladin Partners LLC acquired a new stake in shares of Lam Research in the 2nd quarter valued at $26,000. William Mack & Associates Inc. acquired a new stake in shares of Lam Research during the 3rd quarter worth approximately $25,000. Dakota Community Bank & Trust NA bought a new stake in shares of Lam Research during the 3rd quarter valued at $33,000. Quintet Private Bank Europe S.A. increased its holdings in Lam Research by 100.0% in the third quarter. Quintet Private Bank Europe S.A. now owns 100 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 50 shares during the last quarter. Finally, Bravera Wealth acquired a new position in Lam Research in the second quarter valued at about $46,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research News Roundup

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

Insider Activity at Lam Research

In other Lam Research news, Director Bethany Mayer sold 9,557 shares of the 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 transaction, the director owned 20,995 shares in the company, valued at $6,607,966.30. This represents a 31.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ava Harter sold 5,000 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $302.46, for a total transaction 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 represents a 10.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on LRCX shares. Evercore set a $315.00 price objective on shares of Lam Research in a research note on Tuesday, October 20th. Citigroup reaffirmed a “buy” rating and set a $435.00 price objective (down from $450.00) on shares of Lam Research in a research note on Thursday, October 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $375.00 price target on shares of Lam Research in a report on Monday, October 19th. Weiss Ratings lowered Lam Research from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Finally, Jefferies Financial Group set a $335.00 target price on Lam Research and gave the stock a “buy” rating in a research note on Thursday, July 30th. Twenty-six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $360.23.

Lam Research Stock Up 8.2%

NASDAQ:LRCX traded up $15.24 during trading hours on Friday, reaching $200.44. 17,943,382 shares of the stock were exchanged, compared to its average volume of 10,981,131. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.48 and a quick ratio of 1.86. Lam Research Corporation has a twelve month low of $135.50 and a twelve month high of $438.50. The stock has a market cap of $250.38 billion, a PE ratio of 29.87, a PEG ratio of 0.84 and a beta of 1.97. The firm has a 50 day moving average of $284.37 and a 200 day moving average of $283.67.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data 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 company had revenue of $8.22 billion during the quarter, compared to analysts’ expectations of $8.14 billion. During the same quarter last year, the company earned $1.26 EPS. Lam Research’s revenue for the quarter was up 54.4% compared to the same quarter last year. On average, equities analysts expect that Lam Research Corporation will post 9.59 earnings per share for the current year.

Lam Research declared that its Board of Directors has initiated a stock buyback plan on Thursday, November 5th that allows the company to repurchase $25 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 6th. Shareholders 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 yield of 0.7%. The ex-dividend date of this dividend is Wednesday, December 2nd. Lam Research’s payout ratio is 19.67%.

About Lam Research

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.