Traders Buy Shares of Lam Research Corporation (LRCX) on Weakness on Insider Selling
Traders purchased shares of Lam Research Corporation (NASDAQ:LRCX) on weakness during trading on Wednesday following insider selling activity. $123.83 million flowed into the stock on the tick-up and $87.84 million flowed out of the stock on the tick-down, for a money net flow of $35.99 million into the stock. Of all companies tracked, Lam Research Corporation had the 23rd highest net in-flow for the day. Lam Research Corporation traded down ($4.10) for the day and closed at $173.02Specifically, SVP Sarah A. O’dowd sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $150.92, for a total value of $1,509,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen G. Newberry sold 1,500 shares of the company’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $162.75, for a total transaction of $244,125.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,726 shares of company stock valued at $7,595,557. 0.46% of the stock is currently owned by corporate insiders.
LRCX has been the subject of a number of analyst reports. DA Davidson reissued a “buy” rating and issued a $175.00 price objective on shares of Lam Research Corporation in a research report on Wednesday, July 26th. Credit Suisse Group reissued a “buy” rating on shares of Lam Research Corporation in a research report on Tuesday, August 29th. BidaskClub cut shares of Lam Research Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Stifel Nicolaus reissued a “buy” rating and issued a $189.00 price objective (up from $170.00) on shares of Lam Research Corporation in a research report on Monday, June 19th. Finally, KeyCorp reissued an “overweight” rating on shares of Lam Research Corporation in a research report on Thursday, July 27th. Four research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Lam Research Corporation currently has an average rating of “Buy” and a consensus price target of $177.68.
The firm has a 50 day moving average of $162.21 and a 200-day moving average of $148.80. The firm has a market cap of $28.11 billion, a PE ratio of 18.73 and a beta of 1.47.
Lam Research Corporation (NASDAQ:LRCX) last issued its earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.09. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.78%. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the business earned $1.80 EPS. The firm’s revenue was up 51.6% on a year-over-year basis. Equities research analysts expect that Lam Research Corporation will post $12.75 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $1.80 annualized dividend and a dividend yield of 1.04%. Lam Research Corporation’s dividend payout ratio (DPR) is currently 19.57%.
Institutional investors have recently modified their holdings of the company. Stephens Inc. AR boosted its position in shares of Lam Research Corporation by 6.8% during the 1st quarter. Stephens Inc. AR now owns 849 shares of the semiconductor company’s stock valued at $109,000 after acquiring an additional 54 shares in the last quarter. Odey Holdings AG boosted its position in shares of Lam Research Corporation by 9.9% during the 2nd quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock valued at $115,000 after acquiring an additional 73 shares in the last quarter. BDO Wealth Advisors LLC acquired a new stake in shares of Lam Research Corporation during the 2nd quarter valued at about $118,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Lam Research Corporation during the 2nd quarter valued at about $134,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in shares of Lam Research Corporation by 358.3% during the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,100 shares of the semiconductor company’s stock valued at $156,000 after acquiring an additional 860 shares in the last quarter. Institutional investors and hedge funds own 93.96% of the company’s stock.
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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