Lam Research Co. (NASDAQ:LRCX) insider Timothy Archer sold 6,465 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $214.28, for a total value of $1,385,320.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Lam Research Co. (NASDAQ:LRCX) opened at $222.64 on Thursday. Lam Research Co. has a 1-year low of $122.25 and a 1-year high of $234.88. The firm has a market cap of $36,280.00, a P/E ratio of 75.99, a P/E/G ratio of 0.92 and a beta of 1.43. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.47 and a quick ratio of 2.09.
Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.68 by $0.66. The company had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.57 billion. Lam Research had a net margin of 17.60% and a return on equity of 36.08%. The firm’s revenue for the quarter was up 37.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.24 EPS. analysts anticipate that Lam Research Co. will post 16.74 earnings per share for the current year.
Lam Research announced that its Board of Directors has authorized a share repurchase plan on Tuesday, March 6th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the semiconductor company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.
A number of brokerages have recently commented on LRCX. BidaskClub raised Lam Research from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Vetr cut Lam Research from a “strong-buy” rating to a “buy” rating and set a $240.39 price target on the stock. in a research report on Monday. KeyCorp reissued a “buy” rating and issued a $225.00 price target on shares of Lam Research in a research report on Sunday, November 19th. Needham & Company LLC reissued a “buy” rating and issued a $270.00 price target (up from $235.00) on shares of Lam Research in a research report on Thursday, January 25th. Finally, Stifel Nicolaus boosted their price target on Lam Research from $235.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Twenty-four research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Lam Research currently has an average rating of “Buy” and an average price target of $239.72.
Institutional investors and hedge funds have recently made changes to their positions in the business. Krilogy Financial LLC raised its stake in Lam Research by 91.6% during the 3rd quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock valued at $102,000 after buying an additional 263 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Lam Research by 144.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 392 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Lam Research during the 3rd quarter valued at $134,000. Focused Wealth Management Inc purchased a new stake in Lam Research during the 4th quarter valued at $140,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in Lam Research during the 3rd quarter valued at $185,000. Institutional investors and hedge funds own 90.06% of the company’s stock.
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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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