Lam Research Corporation (LRCX) Director Sells $244,125.00 in Stock

Lam Research Corporation (NASDAQ:LRCX) Director Stephen G. Newberry sold 1,500 shares of Lam Research Corporation stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $162.75, for a total value of $244,125.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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

  • On Wednesday, July 19th, Stephen G. Newberry sold 750 shares of Lam Research Corporation stock. The shares were sold at an average price of $160.50, for a total value of $120,375.00.
  • 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.
  • On Thursday, May 18th, Stephen G. Newberry sold 20,047 shares of Lam Research Corporation stock. The stock was sold at an average price of $150.01, for a total value of $3,007,250.47.

Lam Research Corporation (LRCX) traded up 1.28% during midday trading on Friday, hitting $160.49. The stock had a trading volume of 1,924,780 shares. The firm’s 50-day moving average price is $155.93 and its 200 day moving average price is $140.94. Lam Research Corporation has a 12 month low of $89.80 and a 12 month high of $170.00. The company has a market cap of $26.07 billion, a P/E ratio of 17.37 and a beta of 1.46.

Lam Research Corporation (NASDAQ:LRCX) last announced its quarterly earnings data 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. The business had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Lam Research Corporation had a return on equity of 26.78% and a net margin of 21.19%. The firm’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.80 earnings per share. On average, analysts expect that Lam Research Corporation will post $12.71 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Tuesday, September 12th. Lam Research Corporation’s payout ratio is 19.57%.

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A number of research firms recently commented on LRCX. UBS AG reaffirmed a “buy” rating and issued a $190.00 price objective on shares of Lam Research Corporation in a research note on Tuesday, June 13th. B. Riley reaffirmed a “buy” rating and issued a $220.00 price objective on shares of Lam Research Corporation in a research note on Thursday, July 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $185.00 price objective (up from $145.00) on shares of Lam Research Corporation in a research note on Thursday, July 27th. BidaskClub lowered Lam Research Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Needham & Company LLC lifted their price objective on Lam Research Corporation from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. Four investment 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 stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $175.18.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Main Street Research LLC boosted its position in shares of Lam Research Corporation by 3.6% in the second quarter. Main Street Research LLC now owns 97,974 shares of the semiconductor company’s stock worth $13,856,000 after buying an additional 3,367 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Lam Research Corporation by 81.0% in the first quarter. Van ECK Associates Corp now owns 239,488 shares of the semiconductor company’s stock worth $30,741,000 after buying an additional 107,149 shares during the last quarter. Highland Capital Management LLC acquired a new stake in Lam Research Corporation during the second quarter worth approximately $578,000. Soros Fund Management LLC acquired a new stake in Lam Research Corporation during the first quarter worth approximately $71,978,000. Finally, Rafferty Asset Management LLC raised its stake in Lam Research Corporation by 21.9% in the first quarter. Rafferty Asset Management LLC now owns 46,035 shares of the semiconductor company’s stock worth $5,909,000 after buying an additional 8,255 shares during the last quarter. Institutional investors and hedge funds own 98.98% of the company’s stock.

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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