Lam Research expects second-quarter Systems revenues to rise sharply as major foundries accelerate investments in advanced etch and deposition platforms for AI chip production. In the first quarter, Systems revenue grew by 30% year-over-year to $3.6 billion, driven by a 45% surge in high-aspect-ratio etch tool orders and a 25% increase in atomic layer deposition shipments. Management noted that three leading logic fabs have already qualified Lam’s next-generation plasma etch modules, and a fourth customer engagement for 3D NAND patterning tools is scheduled to convert to production orders in late Q2. Equities analysts now project Q2 Systems revenue of $3.9 billion, up 8% sequentially, underpinning consensus EPS of $1.05 for the quarter.

In the most recent quarter filings, CIBC Asset Management reduced its stake in Lam Research by 0.7%, selling 2,800 shares and ending the period with 394,526 shares valued at $52.8 million. By contrast, Capital Investment Counsel established a new position valued at approximately $2.24 million, while TFR Capital boosted its holding by 286.4% to 8,068 shares. Sagespring Wealth Partners added 365 shares to reach 12,923 shares on file, and GDS Wealth Management increased its stake by 7.2% to 118,110 shares. Overall, institutional ownership remains high at 84.6%, reflecting continued confidence in Lam’s multi-node etch and deposition roadmap despite pockets of profit-taking.

Director Bethany Mayer sold 1,298 shares during the quarter, reducing her ownership by 44% to 1,652 shares on record. Similarly, another senior executive trimmed holdings by just under 14% through a disposition of 9,010 shares. Insiders in total have sold 50,418 shares over the last three months, representing approximately 0.31% of outstanding equity. The company’s dividend payout ratio remains conservative at 22.9%, supporting $1.04 in annualized dividends while retaining cash for continued capital spending.