Rep. Robert Bresnahan, Jr. Buys Lam Research Co. (NASDAQ:LRCX) Stock

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently bought shares of Lam Research Co. (NASDAQ:LRCX). In a filing disclosed on February 13th, the Representative disclosed that they had bought between $1,001 and $15,000 in Lam Research stock on January 16th. The trade occurred in the Representative’s “JP MORGAN BROKERAGE ACCOUNT #2” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of Lowe’s Companies (NYSE:LOW) on 2/7/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Take-Two Interactive Software (NASDAQ:TTWO) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of ServiceNow (NYSE:NOW) on 2/3/2025.
• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 1/30/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/30/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Manhattan Associates (NASDAQ:MANH) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 1/29/2025.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $82.75 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The firm has a market cap of $106.22 billion, a price-to-earnings ratio of 25.14, a P/E/G ratio of 1.37 and a beta of 1.46. The firm has a fifty day moving average price of $77.35 and a 200 day moving average price of $77.96. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, sell-side analysts expect that Lam Research Co. will post 3.69 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, April 9th. Stockholders of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.95%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on LRCX shares. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research report on Friday, January 17th. Barclays dropped their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Wells Fargo & Company upped their target price on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of Lam Research in a research note on Thursday, January 30th. Finally, Cantor Fitzgerald raised Lam Research from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $95.00 to $100.00 in a research note on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $95.72.

Institutional Investors Weigh In On Lam Research

Several hedge funds have recently made changes to their positions in LRCX. Meiji Yasuda Life Insurance Co raised its holdings in shares of Lam Research by 860.3% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 16,200 shares of the semiconductor company’s stock valued at $1,170,000 after acquiring an additional 14,513 shares in the last quarter. West Paces Advisors Inc. purchased a new position in Lam Research during the 4th quarter valued at about $27,000. Wahed Invest LLC raised its holdings in shares of Lam Research by 887.4% in the 4th quarter. Wahed Invest LLC now owns 31,310 shares of the semiconductor company’s stock valued at $2,262,000 after purchasing an additional 28,139 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Lam Research in the 4th quarter worth approximately $30,225,000. Finally, Itau Unibanco Holding S.A. boosted its stake in shares of Lam Research by 4,462.1% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,323 shares of the semiconductor company’s stock valued at $96,000 after purchasing an additional 1,294 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.