Lam Research Co. (NASDAQ:LRCX) insider Richard A. Gottscho sold 80,009 shares of Lam Research stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $124.50, for a total value of $9,961,120.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Lam Research Co. (NASDAQ:LRCX) traded up 0.30% during midday trading on Monday, hitting $126.86. 1,413,397 shares of the stock traded hands. Lam Research Co. has a 12 month low of $72.00 and a 12 month high of $127.66. The stock has a market cap of $20.66 billion, a PE ratio of 22.74 and a beta of 1.44. The company has a 50-day moving average of $118.34 and a 200-day moving average of $105.46.
Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 25th. The company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.05. Lam Research had a return on equity of 19.95% and a net margin of 15.67%. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the company earned $1.57 EPS. The business’s revenue was up 32.0% compared to the same quarter last year. On average, equities research analysts anticipate that Lam Research Co. will post $9.23 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 29th. Stockholders of record on Wednesday, March 8th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Monday, March 6th. Lam Research’s payout ratio is 32.37%.
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Several institutional investors have recently bought and sold shares of LRCX. Origin Asset Management LLP purchased a new position in Lam Research during the fourth quarter worth about $30,054,000. Norges Bank purchased a new position in Lam Research during the fourth quarter worth about $138,959,000. Numeric Investors LLC purchased a new position in Lam Research during the fourth quarter worth about $1,607,000. Westwood Holdings Group Inc. purchased a new position in Lam Research during the fourth quarter worth about $43,783,000. Finally, Thrivent Financial for Lutherans increased its position in Lam Research by 10.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 176,515 shares of the company’s stock worth $18,666,000 after buying an additional 16,560 shares during the last quarter.
LRCX has been the subject of several recent analyst reports. Deutsche Bank AG reaffirmed a “buy” rating on shares of Lam Research in a research report on Monday, November 21st. Bank of America Corp reaffirmed a “buy” rating and issued a $115.00 price target on shares of Lam Research in a research report on Monday, November 21st. Stifel Nicolaus lifted their price target on Lam Research from $110.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, November 21st. B. Riley reaffirmed a “buy” rating and issued a $120.00 price target on shares of Lam Research in a research report on Monday, November 21st. Finally, Goldman Sachs Group Inc raised Lam Research from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $116.00 to $125.00 in a research report on Monday, December 19th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $119.13.
Lam Research 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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