BlackRock Fund Advisors recently announced the acquisition of new stake in Lam Research Corp. (NASDAQ:LRCX). The institutional investor has increased its shareholding in the Technology company by 0.30% to 7.16 million shares with purchase of 21213.0 shares. This fresh investment now brings its stake to 5.44% valued currently at $5.61 billion. In addition, Geode Capital Management LLC raised its holdings by 46760.0 to 2.93 million shares. And JPMorgan Investment Management, I has lifted its position by 16.84% or 0.42 million shares – to 2.9 million shares.
With over 0.5 million Lam Research Corp. (LRCX) shares trading Friday and a closing price of $759.67 on the day, the dollar volume was approximately $377.51 million. The shares have shown a positive half year performance of 18.97% and its price on 01/12/24 lost nearly -0.07%. Currently, there are 133.30M common shares owned by the public and among those 131.11M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 31 analysts who have offered their price forecasts for LRCX have a consensus price objective of $735.90. The analysts have set the share’s price value over the next 12 months at a high of $900.00 and a low of $570.00. The average price target is -3.23% below its recent price level and a downside to the estimated low will see the stock lose -33.28% over that period. But an upside of 15.59% will see the stock hit the forecast high price target while median target price for the stock is $725.00.
Insiders at the company have transacted a total of 88 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 34 of these insider trades were purchases, accounting for 87,015 shares. Insider sales of the common stock occurred on 54 occasions, with total insider shares sold totaling 63,827 shares.
The top 3 mutual fund holders in Lam Research Corp. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Invesco QQQ Trust. Vanguard Total Stock Market ETF owns 4.15 million shares of the company’s stock, all valued at over $3.25 billion. The company bought an additional 4958.0 shares recently to bring their total holdings to about 3.15% of the shares outstanding. Vanguard 500 Index Fund bought 15708.0 shares to see its total holdings expand to 3.22 million shares valued at over $2.52 billion and representing 2.44% of the shares outstanding. Invesco QQQ Trust sold 6235.0 shares to bring its total holdings to over 2.42 million shares at a value of $1.9 billion. Invesco QQQ Trust now owns shares totaling to 1.84% of the shares outstanding.
Shares of Lam Research Corp. (NASDAQ: LRCX) opened at $760.73, up $0.53 from a prior closing price of $760.20. However, the script later moved the day high at 763.35, down -0.07%. The company’s stock has a 5-day price change of 3.72% and 15.99% over the past three months. LRCX shares are trading -3.01% year to date (YTD), with the 12-month market performance up to 63.62% higher. It has a 12-month low price of $453.40 and touched a high of $801.29 over the same period. LRCX has an average intraday trading volume of 988.29K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.50%, 5.86%, and 19.35% respectively.
Institutional ownership of Lam Research Corp. (NASDAQ: LRCX) shares accounts for 85.92% of the company’s 133.30M shares outstanding. Mutual fund holders own 35.60%, while other institutional holders and individual stakeholders account for 51.09% and 1.05% respectively.
It has a market capitalization of $100.12B and a beta (3y monthly) value of 1.51. The stock’s trailing 12-month PE ratio is 25.82, while the earnings-per-share (ttm) stands at $29.42. The company has a PEG of 3.38 and a Quick Ratio of 1.94 with the debt-to-equity ratio at 0.62. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.15% over the week and 2.26% over the month.
Analysts forecast that Lam Research Corp. (LRCX) will achieve an EPS of $7.11 for the current quarter, $6.66 for the next quarter and $35.39 for 2025. The lowest estimate earnings-per-share for the quarter is $6.92 while analysts give the company a high EPS estimate of $7.63. Comparatively, EPS for the current quarter was $10.71 a year ago. Earnings per share for the fiscal year are expected to decrease by -18.90%, and 26.80% over the next financial year. EPS should shrink at an annualized rate of 7.64% over the next five years, compared to 20.32% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 31 brokerage firm advisors rate Lam Research Corp. (LRCX) as a “Strong Buy” at a consensus score of 1.94. Specifically, 15 Wall Street analysts polled rate the stock as a buy, while 13 of the 31 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the LRCX, a number of firms have released research notes about the stock. Deutsche Bank stated their Hold rating for the stock in a research note on December 12, 2023, with the firm’s price target at $680-$725.
