Lam Research Co. (LRCX) Director Stephen G. Newberry Sells 20,047 Shares
Lam Research Co. (NASDAQ:LRCX) Director Stephen G. Newberry sold 20,047 shares of Lam Research stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $150.01, for a total value of $3,007,250.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Lam Research Co. (NASDAQ:LRCX) remained flat at $152.40 during mid-day trading on Monday. 769,266 shares of the company’s stock were exchanged. Lam Research Co. has a 52-week low of $75.02 and a 52-week high of $153.38. The stock has a 50 day moving average of $140.74 and a 200-day moving average of $119.02. The firm has a market capitalization of $24.58 billion, a PE ratio of 19.36 and a beta of 1.44.
Lam Research (NASDAQ:LRCX) last announced its earnings results on Tuesday, April 18th. The semiconductor company reported $2.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.55 by $0.25. The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.13 billion. Lam Research had a net margin of 15.67% and a return on equity of 19.95%. The company’s revenue for the quarter was up 63.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.18 EPS. Equities research analysts forecast that Lam Research Co. will post $9.88 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 28th. Investors of record on Wednesday, June 7th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Monday, June 5th. Lam Research’s payout ratio is presently 32.37%.
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A number of equities analysts recently issued reports on LRCX shares. Zacks Investment Research cut Lam Research from a “buy” rating to a “hold” rating in a report on Tuesday, March 21st. Deutsche Bank AG lifted their target price on Lam Research from $135.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, April 19th. Pacific Crest upgraded Lam Research from a “sector weight” rating to an “overweight” rating in a report on Thursday, March 16th. Cowen and Company restated an “outperform” rating and issued a $125.00 target price on shares of Lam Research in a report on Monday, April 17th. Finally, Needham & Company LLC restated a “buy” rating and issued a $165.00 target price (up from $145.00) on shares of Lam Research in a report on Saturday, April 22nd. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $142.31.
Institutional investors have recently made changes to their positions in the company. Norges Bank bought a new position in shares of Lam Research during the fourth quarter worth $138,959,000. Janus Capital Management LLC raised its position in shares of Lam Research by 24.3% in the fourth quarter. Janus Capital Management LLC now owns 3,175,155 shares of the semiconductor company’s stock worth $335,710,000 after buying an additional 621,245 shares during the last quarter. Soros Fund Management LLC bought a new position in shares of Lam Research during the first quarter worth $71,978,000. Vanguard Group Inc. raised its position in shares of Lam Research by 3.1% in the first quarter. Vanguard Group Inc. now owns 15,750,128 shares of the semiconductor company’s stock worth $2,021,687,000 after buying an additional 471,405 shares during the last quarter. Finally, Pioneer Investment Management Inc. raised its position in shares of Lam Research by 141.6% in the third quarter. Pioneer Investment Management Inc. now owns 793,249 shares of the semiconductor company’s stock worth $75,129,000 after buying an additional 464,963 shares during the last quarter.
About Lam Research
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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