Lam Research Corp. (LRCX) Insider Sells $4,699,329.00 in Stock
Lam Research Corp. (NASDAQ:LRCX) insider Richard A. Gottscho sold 47,540 shares of the stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $98.85, for a total transaction of $4,699,329.00. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Shares of Lam Research Corp. (NASDAQ:LRCX) opened at 99.59 on Wednesday. The company has a market capitalization of $15.96 billion, a price-to-earnings ratio of 19.08 and a beta of 1.46. Lam Research Corp. has a 52 week low of $63.10 and a 52 week high of $102.44. The stock has a 50 day moving average of $94.09 and a 200-day moving average of $86.17.
Lam Research Corp. (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 27th. The company reported $1.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.16. Lam Research Corp. had a net margin of 15.53% and a return on equity of 18.95%. The company earned $1.55 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the firm earned $1.50 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, analysts anticipate that Lam Research Corp. will post $7.02 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 28th. Investors of record on Wednesday, September 14th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Monday, September 12th. Lam Research Corp.’s dividend payout ratio (DPR) is presently 22.99%.
Hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its stake in Lam Research Corp. by 3.2% in the first quarter. State Street Corp now owns 6,373,942 shares of the company’s stock worth $526,477,000 after buying an additional 198,861 shares during the period. 1832 Asset Management L.P. raised its stake in Lam Research Corp. by 0.4% in the first quarter. 1832 Asset Management L.P. now owns 313,600 shares of the company’s stock worth $43,377,000 after buying an additional 1,200 shares during the period. Carnick & Kubik LLC raised its stake in Lam Research Corp. by 2.6% in the first quarter. Carnick & Kubik LLC now owns 15,960 shares of the company’s stock worth $1,318,000 after buying an additional 399 shares during the period. Associated Banc Corp raised its stake in Lam Research Corp. by 7.1% in the first quarter. Associated Banc Corp now owns 95,558 shares of the company’s stock worth $7,893,000 after buying an additional 6,356 shares during the period. Finally, Investec Asset Management North America Inc. acquired a new stake in Lam Research Corp. during the first quarter worth $3,677,000.
Several research firms have recently commented on LRCX. Morgan Stanley reaffirmed an “overweight” rating and issued a $105.00 target price on shares of Lam Research Corp. in a research report on Saturday. RBC Capital Markets reaffirmed an “outperform” rating and issued a $105.00 target price on shares of Lam Research Corp. in a research report on Sunday. Citigroup Inc. reaffirmed a “buy” rating and issued a $108.00 target price on shares of Lam Research Corp. in a research report on Thursday, October 6th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Lam Research Corp. in a research report on Thursday, October 6th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and issued a $100.00 target price on shares of Lam Research Corp. in a research report on Thursday, October 6th. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $100.59.
Lam Research Corp. Company Profile
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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