Lam Research Corp. (LRCX) Insider Sells $4,699,329.00 in Stock
Lam Research Corp. (NASDAQ:LRCX) insider Richard A. Gottscho sold 47,540 shares of the firm’s stock in a transaction that occurred on Thursday, October 6th. The stock was sold at an average price of $98.85, for a total transaction of $4,699,329.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Lam Research Corp. (NASDAQ:LRCX) opened at 99.59 on Wednesday. The firm has a market cap of $15.96 billion, a price-to-earnings ratio of 19.08 and a beta of 1.46. The company has a 50-day moving average of $94.09 and a 200 day moving average of $86.17. Lam Research Corp. has a 12-month low of $63.10 and a 12-month high of $102.44.
Lam Research Corp. (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 27th. The company reported $1.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.16. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.53 billion. Lam Research Corp. had a net margin of 15.53% and a return on equity of 18.95%. Lam Research Corp.’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.50 EPS. Equities analysts expect that Lam Research Corp. will post $7.02 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 28th. Investors of record on Wednesday, September 14th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Monday, September 12th. Lam Research Corp.’s dividend payout ratio (DPR) is presently 22.99%.
LRCX has been the topic of several recent research reports. Credit Suisse Group AG reaffirmed a “buy” rating and set a $100.00 target price on shares of Lam Research Corp. in a report on Sunday, August 14th. Royal Bank Of Canada lowered their target price on shares of Lam Research Corp. from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Thursday, July 28th. Cowen and Company raised their target price on shares of Lam Research Corp. from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, July 26th. Citigroup Inc. reissued a “buy” rating and issued a $108.00 price objective on shares of Lam Research Corp. in a research note on Thursday, October 6th. Finally, Needham & Company LLC lifted their price objective on shares of Lam Research Corp. from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 6th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $100.59.
A number of hedge funds have recently bought and sold shares of the company. Trinity Street Asset Management LLP raised its stake in Lam Research Corp. by 1.3% in the third quarter. Trinity Street Asset Management LLP now owns 451,640 shares of the company’s stock worth $42,774,000 after buying an additional 5,790 shares during the period. Foundry Partners LLC raised its position in shares of Lam Research Corp. by 26.5% in the third quarter. Foundry Partners LLC now owns 139,630 shares of the company’s stock worth $13,224,000 after buying an additional 29,290 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Lam Research Corp. by 1.1% in the third quarter. BNP Paribas Arbitrage SA now owns 286,405 shares of the company’s stock worth $27,125,000 after buying an additional 3,148 shares during the last quarter. Eqis Capital Management Inc. raised its position in shares of Lam Research Corp. by 4.7% in the third quarter. Eqis Capital Management Inc. now owns 14,843 shares of the company’s stock worth $1,406,000 after buying an additional 667 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Lam Research Corp. during the second quarter worth approximately $542,000.
Lam Research Corp. Company Profile
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.
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