Envestnet Portfolio Solutions Inc. Sells 4,746 Shares of Lam Research Corporation $LRCX

Envestnet Portfolio Solutions Inc. lowered its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 4.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 108,335 shares of the semiconductor company’s stock after selling 4,746 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Lam Research were worth $46,945,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of LRCX. Norges Bank bought a new position in Lam Research during the fourth quarter valued at $3,645,427,000. Van ECK Associates Corp raised its stake in shares of Lam Research by 411.8% in the second quarter. Van ECK Associates Corp now owns 11,089,395 shares of the semiconductor company’s stock valued at $4,805,368,000 after buying an additional 8,922,854 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Lam Research during the 2nd quarter valued at $3,777,585,000. Franklin Resources Inc. lifted its position in shares of Lam Research by 57.0% during the 4th quarter. Franklin Resources Inc. now owns 10,110,560 shares of the semiconductor company’s stock valued at $1,730,724,000 after buying an additional 3,671,073 shares during the last quarter. Finally, Corient Private Wealth LLC grew its stake in shares of Lam Research by 235.5% during the 4th quarter. Corient Private Wealth LLC now owns 5,199,441 shares of the semiconductor company’s stock worth $890,040,000 after acquiring an additional 3,649,553 shares during the period. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LRCX. Zacks Research raised Lam Research from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. Jefferies Financial Group set a $335.00 price objective on shares of Lam Research and gave the company a “buy” rating in a report on Thursday, July 30th. Stifel Nicolaus increased their target price on shares of Lam Research from $325.00 to $425.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Wells Fargo & Company reiterated an “overweight” rating and issued a $350.00 target price (down from $450.00) on shares of Lam Research in a research note on Thursday, July 30th. Finally, Raymond James Financial set a $425.00 price target on shares of Lam Research in a research report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average target price of $361.81.

Lam Research Price Performance

NASDAQ LRCX traded down $3.68 during trading hours on Wednesday, hitting $307.28. The company had a trading volume of 9,124,912 shares, compared to its average volume of 10,898,841. Lam Research Corporation has a 52 week low of $125.02 and a 52 week high of $438.50. The firm has a 50 day simple moving average of $305.28 and a 200 day simple moving average of $296.62. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.91 and a current ratio of 2.63. The firm has a market capitalization of $384.51 billion, a price-to-earnings ratio of 53.35, a PEG ratio of 1.20 and a beta of 1.85.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 29th. The semiconductor company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.13. Lam Research had a return on equity of 67.60% and a net margin of 31.27%.The firm had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.66 billion. During the same period in the prior year, the business posted $1.33 earnings per share. The company’s revenue was up 30.0% on a year-over-year basis. Lam Research has set its Q1 2027 guidance at 2.000-2.300 EPS. Equities research analysts expect that Lam Research Corporation will post 9.33 earnings per share for the current year.

Lam Research Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 23rd will be issued a dividend of $0.33 per share. This is a boost from Lam Research’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $1.32 dividend on an annualized basis and a yield of 0.4%. Lam Research’s payout ratio is currently 18.06%.

Insiders Place Their Bets

In other news, insider Ava Harter sold 5,000 shares of the business’s 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 completion of the transaction, the insider directly owned 42,462 shares in the company, valued at $12,843,056.52. The trade was a 10.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 9,557 shares of the company’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the completion of the transaction, the director directly owned 20,995 shares in the company, valued at approximately $6,607,966.30. The trade was a 31.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 32,839 shares of company stock worth $10,644,740 in the last three months. 0.31% of the stock is currently owned by corporate insiders.

Lam Research Profile

Lam Research Corporation is a semiconductor equipment company that develops and manufactures systems used in the fabrication of integrated circuits. Its equipment supports key wafer-processing steps, including deposition, etch, wafer cleaning, and related processes used to create and connect the microscopic features found on semiconductor devices.

The company serves semiconductor manufacturers producing a range of products, including memory, logic, and specialty chips. In addition to manufacturing equipment, Lam Research provides installation, maintenance, spare parts, upgrades, technical support, and other services intended to help customers operate and improve their fabrication facilities.

Founded in 1980, Lam Research is headquartered in Fremont, California, and serves customers through a global network of offices, engineering facilities, and support operations.