Sarah A. O’dowd Sells 1,835 Shares of Lam Research Co. (LRCX) Stock
Lam Research Co. (NASDAQ:LRCX) SVP Sarah A. O’dowd sold 1,835 shares of the business’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $212.64, for a total value of $390,194.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Lam Research Co. (LRCX) opened at $224.95 on Friday. The firm has a market capitalization of $36,656.05, a PE ratio of 24.80, a PEG ratio of 0.90 and a beta of 1.43. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.09 and a current ratio of 2.47. Lam Research Co. has a twelve month low of $118.37 and a twelve month high of $226.08.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.68 by $0.66. The company had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.57 billion. Lam Research had a return on equity of 36.08% and a net margin of 17.60%. The business’s quarterly revenue was up 37.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.24 earnings per share. research analysts anticipate that Lam Research Co. will post 16.74 EPS for the current year.
Lam Research announced that its board has authorized a stock buyback program on Tuesday, November 14th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
LRCX has been the subject of a number of analyst reports. KeyCorp reaffirmed a “buy” rating and issued a $225.00 price target on shares of Lam Research in a research note on Sunday, November 19th. BidaskClub downgraded Lam Research from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. B. Riley reaffirmed a “buy” rating and issued a $250.00 price target on shares of Lam Research in a research note on Tuesday, November 14th. Vetr downgraded Lam Research from a “buy” rating to a “hold” rating and set a $218.49 price target for the company. in a research note on Tuesday, January 23rd. Finally, Zacks Investment Research raised Lam Research from a “hold” rating to a “buy” rating and set a $234.00 price target for the company in a research note on Tuesday, January 23rd. Twenty-five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $239.15.
Large investors have recently added to or reduced their stakes in the company. Krilogy Financial LLC grew its holdings in shares of Lam Research by 91.6% during the third quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 263 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Lam Research by 144.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock worth $122,000 after purchasing an additional 392 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Lam Research during the third quarter worth about $134,000. Focused Wealth Management Inc bought a new stake in shares of Lam Research during the fourth quarter worth about $140,000. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in shares of Lam Research during the third quarter worth about $185,000. Institutional investors own 89.05% of the company’s stock.
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About Lam Research
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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