Lam Research EVP Richard A. Gottscho Sells 18,000 Shares (LRCX)
Lam Research (NASDAQ:LRCX) EVP Richard A. Gottscho unloaded 18,000 shares of Lam Research stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $59.50, for a total transaction of $1,071,000.00. Following the sale, the executive vice president now directly owns 55,981 shares in the company, valued at approximately $3,330,870. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on LRCX shares. Analysts at RBC Capital raised their price target on shares of Lam Research from $57.00 to $62.00 in a research note on Monday, May 12th. Separately, analysts at B. Riley reiterated a “buy” rating on shares of Lam Research in a research note on Thursday, April 24th. They now have a $67.00 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Lam Research in a research note on Thursday, April 24th. They now have a $56.00 price target on the stock. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $63.12.
Lam Research (NASDAQ:LRCX) traded up 2.38% during mid-day trading on Friday, hitting $60.61. 2,286,550 shares of the company’s stock traded hands. Lam Research has a 52 week low of $43.35 and a 52 week high of $60.95. The stock’s 50-day moving average is $56.12 and its 200-day moving average is $53.72. The company has a market cap of $9.827 billion and a P/E ratio of 20.87.
Lam Research (NASDAQ:LRCX) last released its earnings data on Wednesday, April 23rd. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.10. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was up 38.7% on a year-over-year basis. On average, analysts predict that Lam Research will post $4.41 earnings per share for the current fiscal year.
The company also recently announced a special dividend, which is scheduled for Wednesday, July 2nd. Shareholders of record on Wednesday, June 11th will be paid a dividend of $0.18 per share. The ex-dividend date is Monday, June 9th.
Lam Research Corporation (NASDAQ:LRCX), is a supplier of wafer fabrication equipment and services to the worldwide semiconductor industry.
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