Traders Sell Lam Research Corporation (LRCX) on Strength After Insider Selling
Traders sold shares of Lam Research Corporation (NASDAQ:LRCX) on strength during trading hours on Tuesday after an insider sold shares in the company. $164.00 million flowed into the stock on the tick-up and $190.26 million flowed out of the stock on the tick-down, for a money net flow of $26.26 million out of the stock. Of all stocks tracked, Lam Research Corporation had the 0th highest net out-flow for the day. Lam Research Corporation traded up $2.19 for the day and closed at $194.55Specifically, COO Timothy Archer sold 15,638 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $175.65, for a total transaction of $2,746,814.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stephen G. Newberry sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $195.09, for a total transaction of $146,317.50. The disclosure for this sale can be found here. Insiders have sold 40,419 shares of company stock worth $7,167,497 over the last 90 days. Insiders own 0.41% of the company’s stock.
A number of research firms recently weighed in on LRCX. B. Riley restated a “buy” rating and set a $220.00 target price on shares of Lam Research Corporation in a research note on Tuesday, August 1st. Needham & Company LLC upped their target price on shares of Lam Research Corporation from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday. J P Morgan Chase & Co restated a “buy” rating and set a $230.00 target price on shares of Lam Research Corporation in a research note on Wednesday. KeyCorp restated a “buy” rating and set a $225.00 target price (up from $202.00) on shares of Lam Research Corporation in a research note on Wednesday. Finally, Zacks Investment Research lowered shares of Lam Research Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Six equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Lam Research Corporation currently has an average rating of “Buy” and an average price target of $201.04.
The stock has a 50-day moving average price of $177.88 and a 200 day moving average price of $157.58. The firm has a market cap of $32.57 billion, a price-to-earnings ratio of 21.70 and a beta of 1.53.
Lam Research Corporation (NASDAQ:LRCX) last issued its quarterly earnings data on Tuesday, October 17th. The semiconductor company reported $3.46 EPS for the quarter, topping the Zacks’ consensus estimate of $3.27 by $0.19. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.46 billion. Lam Research Corporation had a return on equity of 26.78% and a net margin of 21.19%. The firm’s revenue was up 51.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.81 EPS. Equities research analysts predict that Lam Research Corporation will post $12.92 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $1.80 dividend on an annualized basis and a yield of 0.90%. Lam Research Corporation’s payout ratio is currently 19.57%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Odey Holdings AG grew its stake in Lam Research Corporation by 9.9% during the 2nd quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock worth $115,000 after buying an additional 73 shares during the last quarter. BDO Wealth Advisors LLC bought a new position in Lam Research Corporation during the 2nd quarter worth $118,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Lam Research Corporation during the 2nd quarter worth $134,000. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its stake in Lam Research Corporation by 358.3% during the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,100 shares of the semiconductor company’s stock worth $156,000 after buying an additional 860 shares during the last quarter. Finally, Sun Life Financial INC grew its stake in Lam Research Corporation by 10,672.7% during the 2nd quarter. Sun Life Financial INC now owns 1,185 shares of the semiconductor company’s stock worth $168,000 after buying an additional 1,174 shares during the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.
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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.
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