Bruce G. Allen Investments LLC Secures New Stake in Lam Research Co.

Bruce G. Allen Investments LLC has initiated a new investment in Lam Research Co. (NASDAQ:LRCX) in the recent financial quarter. The investment firm reported in its latest 13F filing with the Securities and Exchange Commission that it has acquired 51 shares of the semiconductor company, with an estimated value of around $40,000. This move by Bruce G. Allen Investments LLC adds to the trend of significant investor interest in Lam Research.

Investor Activity in Lam Research

Other major investors have also been actively trading shares of Lam Research. Orion Capital Management LLC, Bollard Group LLC, BluePath Capital Management LLC, Resurgent Financial Advisors LLC, and OFI Invest Asset Management are among the firms that have opened new positions or increased their holdings in the company during recent quarters. Institutional investors now hold a majority stake of approximately 84.08% in Lam Research.

Insider Transactions Highlighted

Recent insider trading activity has been disclosed by Lam Research. Christina Corrreia, Lam Research’s chief accounting officer, sold 647 shares at an average price of $768.75, resulting in a transaction worth $497,381.25. Post-sale, Corrreia retains 5,492 shares in the company, equating to a value of over $4.2 million. CEO Timothy Archer also sold shares recently, parting with 10,524 shares at $732.00 each, totaling a sale worth $7,703,568.00. Overall, company insiders have disposed of 19,895 shares worth $15,666,586 in the last quarter, yet still own 0.32% of the company’s stock.

Analysts' Optimistic Projections

Several research analysts have offered their forecasts for Lam Research. Adjustments to ratings and price targets reflect a positive outlook from firms like Deutsche Bank Aktiengesellschaft, Needham & Company LLC, Susquehanna, and Mizuho. The company holds a “Moderate Buy” consensus rating from analysts, with an average target price of $811.68.

Company’s Financial and Stock Performance

Lam Research’s stock opened at $949.08, with market performance showing a strong market cap of $124.42 billion. The company’s ratios and average stock prices depict a stable financial position and market confidence. In its latest earnings release, Lam Research reported EPS of $7.52, surpassing consensus estimates, though revealing a year-over-year decrease in quarterly revenue.

Dividend Announcements

The firm has also declared a quarterly dividend. Shareholders on record as of March 13th will receive a $2.00 per share dividend, indicating an annual yield of 0.84%. This consistency showcases Lam Research’s commitment to returning value to its investors.

About Lam Research

Lam Research Corporation is a renowned entity in the semiconductor industry, known for its manufacturing and servicing operations for semiconductor processing equipment vital to integrated circuit fabrication.

Investment, Semiconductor, Shares