Lam Research slides as UBS trims target and insider sells
Lam Research shares are lower Tuesday afternoon after UBS cut its price target to $425 from $435 and SEC Form 4 disclosed Chief Legal Officer Ava Harter sold 5,000 shares at $302.46 average.
Shares of Lam Research Corporation (NASDAQ: LRCX) were lower Tuesday afternoon, with pressure coming from a UBS target cut, an insider filing and broader selling in high-multiple tech names. UBS cut its price target on the stock to $425 from $435 and kept a Buy rating in place. An SEC Form 4 showed Chief Legal Officer Ava Harter sold 5,000 shares of common stock at an average price of $302.46 a share on Aug. 31.
The transaction totaled $1.51 million and was made under a pre-arranged Rule 10b5-1 trading plan adopted in April 2026. Broader semiconductor valuations also weakened as bond markets surged on Tuesday, lifting the 10-year Treasury yield to 4.8%, its highest level since January 2025, and the 30-year yield to 5.25%. Department’s August move to double its long-dated bond buybacks came as investors continued to digest sticky inflation metrics and an expanding federal deficit, with total U.S. debt exceeding $40 trillion.
The move came alongside a spike in crude oil prices driven by renewed Middle East geopolitical tensions, with escalating discount rates continuing to weigh on valuation multiples across capital-intensive growth stocks. Lam Research shares were down 3.95% at $289.57 at the time of publication on Tuesday, according to Pro data.