King Luther Capital Management Corp Acquires 24,008 Shares of Lam Research Corporation $LRCX

King Luther Capital Management Corp boosted its holdings in Lam Research Corporation (NASDAQ:LRCX) by 28.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 108,551 shares of the semiconductor company’s stock after purchasing an additional 24,008 shares during the quarter. King Luther Capital Management Corp’s holdings in Lam Research were worth $35,660,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings 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 buying an additional 1,545,830 shares during the period. Bank of America Corp DE increased its stake in shares of Lam Research by 5.5% during the 2nd quarter. Bank of America Corp DE now owns 11,244,147 shares of the semiconductor company’s stock valued at $4,872,426,000 after acquiring an additional 584,489 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Lam Research by 411.8% during the 2nd quarter. Van ECK Associates Corp now owns 11,089,395 shares of the semiconductor company’s stock valued at $4,805,368,000 after acquiring an additional 8,922,854 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Lam Research during the 2nd quarter worth about $3,777,585,000. Finally, Amundi lifted its holdings in shares of Lam Research by 23.7% during the 1st quarter. Amundi now owns 10,147,479 shares of the semiconductor company’s stock worth $2,168,107,000 after acquiring an additional 1,942,862 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

More Lam Research News

Here’s some of the latest news about LRCX:

• Positive Sentiment: Lam’s shares rose alongside peers in a broad wafer-fabrication-equipment rally, suggesting a rebound in sector sentiment after the recent decline. Read More.
• Positive Sentiment: Gross margin reached a record 52.4% in Q1’27, helped by demand and product mix. ETFs also bought a net $231.4 million of LRCX on Monday, with more funds buying than selling. Read More. · Read More.
• Negative Sentiment: Despite the rebound, LRCX and other equipment stocks had recently suffered steep declines amid concerns about semiconductor spending. Supply constraints could also limit further margin improvement, while ETFs were net sellers on Nov. 6—evidence that sentiment and fund flows have been uneven. Read More. · Read More.

Lam Research Stock Up 6.1%

Shares of NASDAQ:LRCX opened at $235.88 on Thursday. 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 1 year low of $135.50 and a 1 year high of $438.50. The stock has a market capitalization of $294.65 billion, a P/E ratio of 35.15, a PEG ratio of 0.82 and a beta of 1.97. The stock has a 50-day simple moving average of $280.09 and a 200-day simple moving average of $283.74.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 21st. The semiconductor company reported $2.20 EPS for the quarter, beating the consensus estimate of $2.18 by $0.02. Lam Research had a net margin of 32.34% and a return on equity of 72.15%. The firm had revenue of $8.22 billion for the quarter, compared to analyst estimates of $8.14 billion. During the same quarter last year, the firm posted $1.26 earnings per share. Lam Research’s revenue for the quarter was up 54.4% compared to the same quarter last year. Equities analysts forecast that Lam Research Corporation will post 9.60 earnings per share for the current year.

Lam Research declared that its board has approved a stock repurchase plan on Thursday, November 5th that authorizes the company to buy back $25 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 9% of its shares through open market purchases. Share repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 6th. Shareholders of record on Wednesday, December 2nd will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.6%. The ex-dividend date is Wednesday, December 2nd. Lam Research’s payout ratio is currently 19.67%.

Insider Activity at Lam Research

In other news, Director Bethany Mayer sold 9,557 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $314.74, for a total value of $3,007,970.18. Following the transaction, the director owned 20,995 shares of the company’s stock, valued at approximately $6,607,966.30. This trade represents a 31.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ava Harter sold 5,000 shares of Lam Research stock in a transaction on Monday, August 31st. The shares were sold at an average price of $302.46, for a total transaction of $1,512,300.00. Following the transaction, the insider owned 42,462 shares in the company, valued at $12,843,056.52. The trade was a 10.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 14,573 shares of company stock valued at $4,523,606. 0.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LRCX. UBS Group reissued a “buy” rating and issued a $400.00 target price (down from $425.00) on shares of Lam Research in a research report on Thursday, October 22nd. Zacks Research lowered shares of Lam Research from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 22nd. Wall Street Zen upgraded Lam Research from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. Morgan Stanley set a $339.00 price objective on Lam Research and gave the stock an “overweight” rating in a report on Thursday, October 22nd. Finally, HSBC reaffirmed a “hold” rating and issued a $333.00 target price on shares of Lam Research in a research report on Monday, July 27th. Twenty-six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Lam Research has an average rating of “Moderate Buy” and an average target price of $357.57.

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.