Lam Research (NASDAQ:LRCX) Shares Gap Up – Here’s What Happened

Lam Research Corporation (NASDAQ:LRCX) shares gapped up prior to trading on Thursday . The stock had previously closed at $374.80, but opened at $407.99. Lam Research shares last traded at $376.4650, with a volume of 2,124,463 shares traded.

Analyst Ratings Changes

A number of analysts recently commented on the stock. B. Riley Financial upped their price target on shares of Lam Research from $350.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Jefferies Financial Group lifted their price objective on shares of Lam Research from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Erste Group Bank cut shares of Lam Research from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Cantor Fitzgerald set a $425.00 target price on Lam Research and gave the stock an “overweight” rating in a research report on Wednesday, June 10th. Finally, Weiss Ratings lowered Lam Research from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 14th. Twenty-eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $334.43.

Lam Research Trading Up 2.2%

The firm has a fifty day simple moving average of $309.03 and a two-hundred day simple moving average of $246.96. The stock has a market cap of $479.02 billion, a PE ratio of 72.29, a PEG ratio of 3.06 and a beta of 1.85. The company has a current ratio of 2.54, a quick ratio of 1.77 and a debt-to-equity ratio of 0.35.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, April 22nd. The semiconductor company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.36 by $0.11. The company had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.70 billion. Lam Research had a return on equity of 66.21% and a net margin of 30.94%.Lam Research’s revenue was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.04 earnings per share. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. As a group, equities analysts expect that Lam Research Corporation will post 5.7 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Eric Brandt sold 54,500 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $350.80, for a total transaction of $19,118,600.00. Following the sale, the director owned 199,205 shares in the company, valued at approximately $69,881,114. This trade represents a 21.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Neil J. Fernandes sold 18,170 shares of Lam Research stock in a transaction on Friday, May 1st. The stock was sold at an average price of $255.14, for a total transaction of $4,635,893.80. Following the sale, the senior vice president directly owned 66,129 shares of the company’s stock, valued at $16,872,153.06. This represents a 21.55% decrease in their ownership of the stock. 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. Insiders sold a total of 86,339 shares of company stock valued at $27,680,267 in the last quarter. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Lam Research

A number of large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Lam Research in the 4th quarter worth about $3,645,427,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Lam Research by 352.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,695,210 shares of the semiconductor company’s stock valued at $2,344,347,000 after buying an additional 10,666,540 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Lam Research by 781.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 11,340,865 shares of the semiconductor company’s stock valued at $1,518,542,000 after buying an additional 10,053,978 shares in the last quarter. Franklin Resources Inc. lifted its position in Lam Research by 57.0% in the 4th quarter. Franklin Resources Inc. now owns 10,110,560 shares of the semiconductor company’s stock worth $1,730,724,000 after buying an additional 3,671,073 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its position in Lam Research by 235.5% in the 4th quarter. Corient Private Wealth LLC now owns 5,199,441 shares of the semiconductor company’s stock worth $890,040,000 after buying an additional 3,649,553 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.