Insider Selling: Lam Research Corporation (LRCX) Director Sells 750 Shares of Stock

Lam Research Corporation (NASDAQ:LRCX) Director Stephen G. Newberry sold 750 shares of the company’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $160.50, for a total transaction of $120,375.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

  • On Thursday, July 20th, Stephen G. Newberry sold 1,500 shares of Lam Research Corporation stock. The shares were sold at an average price of $162.75, for a total transaction of $244,125.00.
  • On Wednesday, July 12th, Stephen G. Newberry sold 750 shares of Lam Research Corporation stock. The shares were sold at an average price of $155.41, for a total transaction of $116,557.50.
  • On Thursday, May 18th, Stephen G. Newberry sold 20,047 shares of Lam Research Corporation stock. The shares were sold at an average price of $150.01, for a total transaction of $3,007,250.47.

Lam Research Corporation (NASDAQ:LRCX) traded up 1.28% during midday trading on Friday, reaching $160.49. 1,924,780 shares of the company were exchanged. The firm has a market cap of $26.07 billion, a P/E ratio of 17.37 and a beta of 1.46. The firm’s 50-day moving average is $155.93 and its 200-day moving average is $140.94. Lam Research Corporation has a one year low of $89.80 and a one year high of $170.00.

Lam Research Corporation (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, topping 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 business had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the company earned $1.80 earnings per share. Lam Research Corporation’s revenue for the quarter was up 51.6% on a year-over-year basis. On average, equities analysts expect that Lam Research Corporation will post $12.71 EPS for the current fiscal year.

The company 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 $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Tuesday, September 12th. Lam Research Corporation’s payout ratio is 19.57%.

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Several hedge funds have recently modified their holdings of the company. WFG Advisors LP boosted its stake in shares of Lam Research Corporation by 21.2% in the second quarter. WFG Advisors LP now owns 2,992 shares of the semiconductor company’s stock worth $423,000 after buying an additional 524 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Lam Research Corporation by 24.4% in the second quarter. Toronto Dominion Bank now owns 54,665 shares of the semiconductor company’s stock worth $7,729,000 after buying an additional 10,720 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of Lam Research Corporation by 25.3% in the second quarter. Advisory Services Network LLC now owns 18,920 shares of the semiconductor company’s stock worth $2,676,000 after buying an additional 3,824 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Lam Research Corporation during the second quarter worth $302,000. Finally, Covington Capital Management purchased a new stake in shares of Lam Research Corporation during the second quarter worth $208,000. Institutional investors and hedge funds own 98.98% of the company’s stock.

Several equities analysts recently issued reports on LRCX shares. Needham & Company LLC reissued a “buy” rating and set a $165.00 price objective (up previously from $145.00) on shares of Lam Research Corporation in a research note on Saturday, April 22nd. Pacific Crest reissued an “overweight” rating and set a $180.00 price objective (up previously from $163.00) on shares of Lam Research Corporation in a research note on Saturday, April 22nd. UBS AG reissued a “buy” rating and set a $158.00 price objective (up previously from $144.00) on shares of Lam Research Corporation in a research note on Saturday, April 22nd. B. Riley reissued a “buy” rating and set a $175.00 price objective on shares of Lam Research Corporation in a research note on Monday, April 24th. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of Lam Research Corporation from a “conviction-buy” rating to a “buy” rating and upped their price objective for the company from $153.00 to $160.00 in a research note on Monday, May 8th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $175.18.

Lam Research Corporation 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.

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

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