Lam Research Corp. Chairman Sells $2,750,000 in Stock (LRCX)
Lam Research Corp. (NASDAQ:LRCX) Chairman Stephen G. Newberry sold 50,000 shares of Lam Research Corp. stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $55.00, for a total value of $2,750,000.00. Following the completion of the transaction, the chairman now directly owns 54,772 shares of the company’s stock, valued at approximately $3,012,460. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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 investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $59.43.
Lam Research Corp. (NASDAQ:LRCX) traded down 0.21% on Wednesday, hitting $55.77. 1,881,074 shares of the company’s stock traded hands. Lam Research Corp. has a 1-year low of $37.98 and a 1-year high of $56.00. The stock has a 50-day moving average of $53.00 and a 200-day moving average of $50.96. The company has a market cap of $9.057 billion and a P/E ratio of 48.56.
Lam Research Corporation (NASDAQ:LRCX), is a supplier of wafer fabrication equipment and services to the worldwide semiconductor industry.
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