Insider Selling: Krishna Saraswat Unloads 2,000 Shares of Lam Research Corp. Stock (LRCX)
Lam Research Corp. (NASDAQ:LRCX) Director Krishna Saraswat sold 2,000 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $55.07, for a total value of $110,140.00. Following the completion of the transaction, the director now directly owns 18,896 shares of the company’s stock, valued at approximately $1,040,603. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Lam Research Corp. (NASDAQ:LRCX) traded down 0.21% on Wednesday, hitting $55.77. The stock had a trading volume of 1,881,074 shares. Lam Research Corp. has a 52-week low of $37.98 and a 52-week high of $56.00. The stock’s 50-day moving average is $53.00 and its 200-day moving average is $50.96. The company has a market cap of $9.057 billion and a price-to-earnings ratio of 48.56.
A number of analysts have recently weighed in on LRCX shares. Analysts at Susquehanna downgraded shares of Lam Research Corp. from a “positive” rating to a “neutral” rating in a research note to investors on Monday, November 11th. They now have a $60.00 price target on the stock, down previously from $63.00. Separately, analysts at DA Davidson raised their price target on shares of Lam Research Corp. from $60.00 to $63.00 in a research note to investors on Friday, October 25th. They now have a “buy” rating on the stock. Finally, analysts at UBS AG raised their price target on shares of Lam Research Corp. from $55.00 to $60.00 in a research note to investors on Thursday, October 24th. They now have a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $59.43.
Lam Research Corporation (NASDAQ:LRCX), is a supplier of wafer fabrication equipment and services to the worldwide semiconductor industry.
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