Lam Research Corp. Director Sells $49,690 in Stock (LRCX)
Lam Research Corp. (NASDAQ:LRCX) Director Krishna Saraswat unloaded 1,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $49.69, for a total value of $49,690.00. Following the completion of the transaction, the director now directly owns 17,306 shares in the company. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of research firms have recently commented on LRCX. Analysts at Northland Securities initiated coverage on shares of Lam Research Corp. (NASDAQ:LRCX) in a research note to investors on Wednesday, August 28th. They set an “outperform” rating on the stock. Separately, analysts at Northland Capital Partners initiated coverage on shares of Lam Research Corp. (NASDAQ:LRCX) in a research note to investors on Wednesday, August 28th. They set an “outperform” rating and a $58.00 price target on the stock. Finally, analysts at Piper Jaffray Cos. raised their price target on shares of Lam Research Corp. (NASDAQ:LRCX) from $49.00 to $56.00 in a research note to investors on Thursday, August 1st. They now have an “overweight” rating on the stock.
Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $53.48.
Lam Research Corp. (NASDAQ:LRCX) traded up 0.72% during mid-day trading on Monday, hitting $50.21. 1,449,781 shares of the company’s stock traded hands. Lam Research Corp. has a 1-year low of $31.17 and a 1-year high of $51.00. The stock’s 50-day moving average is $48.61 and its 200-day moving average is $46.00. The company has a market cap of $8.192 billion and a P/E ratio of 75.53.
Lam Research Corp. (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.80 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.71 by $0.09. The company had revenue of $986.00 million for the quarter, compared to the consensus estimate of $981.93 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. The company’s quarterly revenue was up 32.9% on a year-over-year basis. On average, analysts predict that Lam Research Corp. will post $3.83 earnings per share for the current fiscal year.
Lam Research Corporation (NASDAQ:LRCX), is a supplier of wafer fabrication equipment and services to the worldwide semiconductor industry.
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