34,133 Shares of Lam Research Corporation $LRCX Acquired by Cornerstone Advisors LLC

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

A number of other large investors also recently modified their holdings of the company. William Mack & Associates Inc. purchased a new position in shares of Lam Research during the third quarter worth approximately $25,000. Paladin Partners LLC bought a new stake in shares of Lam Research in the 2nd quarter worth approximately $26,000. Quintet Private Bank Europe S.A. boosted its stake in shares of Lam Research by 100.0% in the 3rd 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 in the last quarter. Dakota Community Bank & Trust NA purchased a new stake in shares of Lam Research in the 3rd quarter valued at $33,000. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in shares of Lam Research in the 2nd quarter valued at $35,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Lam Research 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 sale, the director owned 20,995 shares of the company’s stock, valued at $6,607,966.30. This trade represents a 31.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ava Harter sold 5,000 shares of the business’s stock in a transaction dated 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 completion of 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. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 14,573 shares of company stock worth $4,523,606. Insiders own 0.31% of the company’s stock.

Lam Research Stock Performance

NASDAQ:LRCX opened at $225.92 on Friday. The firm has a market cap 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. Lam Research Corporation has a fifty-two week low of $135.50 and a fifty-two week high of $438.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.86 and a current ratio of 2.48. The business has a 50 day moving average price of $277.67 and a 200-day moving average price of $283.73.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $8.14 billion. During the same quarter last year, the business earned $1.26 earnings per share. The business’s revenue was up 54.4% on a year-over-year basis. Equities research analysts predict that Lam Research Corporation will post 9.60 earnings per share for the current year.

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

Lam Research Announces Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $1.32 annualized dividend and a yield of 0.6%. Lam Research’s dividend payout ratio is presently 19.67%.

Top Lam Research Stories

Here are a few of the latest stories about LRCX:

• 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
• Neutral Sentiment: Lam committed $15 million over four years to a LEGO Education STEM initiative. The partnership supports future science and engineering talent, but is unlikely to materially affect near-term results. Article: Lam Research and LEGO Education Partnership

Analysts Set New Price Targets

LRCX has been the topic of several recent research reports. Wells Fargo & Company reaffirmed an “overweight” rating and set a $350.00 target price (down from $450.00) on shares of Lam Research in a report on Thursday, July 30th. Weiss Ratings downgraded shares of Lam Research from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, September 4th. Fundamental Research set a $390.00 price target on shares of Lam Research in a research report on Thursday, October 1st. Jefferies Financial Group set a $335.00 price objective on Lam Research and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Bank of America reiterated a “buy” rating and issued a $345.00 price objective on shares of Lam Research in a report on Thursday, October 22nd. Twenty-six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $357.57.

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.