Lam Research Corporation (LRCX) Director Stephen G. Newberry Sells 750 Shares

Lam Research Corporation (NASDAQ:LRCX) Director Stephen G. Newberry sold 750 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $175.00, for a total value of $131,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Stephen G. Newberry also recently made the following trade(s):

  • On Monday, September 11th, Stephen G. Newberry sold 750 shares of Lam Research Corporation stock. The stock was sold at an average price of $170.00, for a total value of $127,500.00.
  • On Wednesday, July 19th, Stephen G. Newberry sold 750 shares of Lam Research Corporation stock. The stock was sold at an average price of $160.50, for a total value of $120,375.00.
  • On Thursday, July 20th, Stephen G. Newberry sold 1,500 shares of Lam Research Corporation stock. The stock was sold at an average price of $162.75, for a total value of $244,125.00.
  • On Wednesday, July 12th, Stephen G. Newberry sold 750 shares of Lam Research Corporation stock. The stock was sold at an average price of $155.41, for a total value of $116,557.50.

Lam Research Corporation (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.02 by $0.09. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.78%. The company had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period last year, the firm earned $1.80 EPS. The company’s revenue for the quarter was up 51.6% on a year-over-year basis.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, September 12th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.04%. Lam Research Corporation’s dividend payout ratio (DPR) is 19.57%.

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Several institutional investors and hedge funds have recently modified their holdings of LRCX. Janus Henderson Group PLC increased its stake in shares of Lam Research Corporation by 23,238.8% during the 2nd quarter. Janus Henderson Group PLC now owns 4,742,669 shares of the semiconductor company’s stock worth $670,756,000 after purchasing an additional 4,722,348 shares in the last quarter. Harbour Capital Advisors LLC increased its stake in shares of Lam Research Corporation by 13,054.2% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,890,919 shares of the semiconductor company’s stock worth $13,370,000 after purchasing an additional 1,876,544 shares in the last quarter. Old Mutual Global Investors UK Ltd. increased its stake in shares of Lam Research Corporation by 1,696.5% during the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 878,960 shares of the semiconductor company’s stock worth $124,311,000 after purchasing an additional 830,034 shares in the last quarter. GQG Partners LLC purchased a new position in shares of Lam Research Corporation during the 2nd quarter worth approximately $87,726,000. Finally, Soros Fund Management LLC purchased a new position in shares of Lam Research Corporation during the 1st quarter worth approximately $71,978,000. 93.96% of the stock is owned by institutional investors and hedge funds.

LRCX has been the subject of a number of analyst reports. DA Davidson reaffirmed a “buy” rating and issued a $175.00 price target on shares of Lam Research Corporation in a report on Wednesday, July 26th. Credit Suisse Group reaffirmed a “buy” rating on shares of Lam Research Corporation in a report on Tuesday, August 29th. BidaskClub cut Lam Research Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $189.00 price target (up previously from $170.00) on shares of Lam Research Corporation in a report on Monday, June 19th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Lam Research Corporation in a report on Thursday, July 27th. Four analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $177.68.

About Lam Research Corporation

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.

Insider Buying and Selling by Quarter for Lam Research Corporation (NASDAQ:LRCX)

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