Lam Research Corporation (NASDAQ:LRCX) shares gapped down prior to trading on Thursday following insider selling activity. The stock had previously closed at $155.92, but opened at $152.75. Lam Research Corporation shares last traded at $148.48, with a volume of 4,156,923 shares changing hands.

Specifically, COO Timothy Archer sold 8,942 shares of the company’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $155.51, for a total value of $1,390,570.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen G. Newberry sold 750 shares of the company’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $155.41, for a total transaction of $116,557.50. The disclosure for this sale can be found here. In the last three months, insiders sold 42,509 shares of company stock valued at $6,453,898. Corporate insiders own 0.46% of the company’s stock.

A number of equities research analysts recently commented on the stock. UBS AG reiterated a “buy” rating and set a $190.00 price target (up from $180.00) on shares of Lam Research Corporation in a report on Monday, June 5th. Bank of America Corporation reiterated a “buy” rating and set a $195.00 price target (up from $165.00) on shares of Lam Research Corporation in a report on Sunday, June 11th. Deutsche Bank AG upped their price target on shares of Lam Research Corporation from $155.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, May 30th. BidaskClub lowered shares of Lam Research Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Finally, Citigroup Inc. restated a “buy” rating and issued a $200.00 price objective on shares of Lam Research Corporation in a report on Wednesday, May 17th. Two equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $153.59.

The firm has a market cap of $25.37 billion, a PE ratio of 20.01 and a beta of 1.44. The firm has a 50-day moving average of $152.90 and a 200 day moving average of $129.51.

Lam Research Corporation (NASDAQ:LRCX) last issued its earnings results on Tuesday, April 18th. The semiconductor company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.25. The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.13 billion. Lam Research Corporation had a return on equity of 23.84% and a net margin of 19.82%. The business’s quarterly revenue was up 63.9% on a year-over-year basis. During the same quarter last year, the company earned $1.18 EPS. On average, equities analysts expect that Lam Research Corporation will post $9.88 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 28th. Investors of record on Wednesday, June 7th were paid a $0.45 dividend. The ex-dividend date of this dividend was Monday, June 5th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.14%. Lam Research Corporation’s dividend payout ratio (DPR) is presently 22.96%.

Several hedge funds have recently bought and sold shares of LRCX. Regentatlantic Capital LLC acquired a new stake in Lam Research Corporation during the first quarter worth $214,000. Pennsylvania Trust Co purchased a new stake in Lam Research Corporation during the first quarter worth approximately $226,000. Quadrant Capital Group LLC increased its stake in Lam Research Corporation by 0.3% in the first quarter. Quadrant Capital Group LLC now owns 1,332 shares of the semiconductor company’s stock worth $168,000 after buying an additional 4 shares during the last quarter. Koshinski Asset Management Inc. increased its stake in Lam Research Corporation by 382.1% in the first quarter. Koshinski Asset Management Inc. now owns 17,984 shares of the semiconductor company’s stock worth $2,308,000 after buying an additional 14,254 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its stake in Lam Research Corporation by 7.2% in the first quarter. Gulf International Bank UK Ltd now owns 50,712 shares of the semiconductor company’s stock worth $6,509,000 after buying an additional 3,400 shares during the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

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Lam Research Corporation 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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