Lam Research Corporation (NASDAQ:LRCX) Director Sells $116,557.50 in Stock

Lam Research Corporation (NASDAQ:LRCX) Director Stephen G. Newberry sold 750 shares of Lam Research Corporation stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $155.41, for a total value of $116,557.50. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 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 value of $244,125.00.
  • 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 value of $3,007,250.47.

Shares of Lam Research Corporation (LRCX) opened at 155.75 on Wednesday. Lam Research Corporation has a 1-year low of $88.13 and a 1-year high of $170.00. The company’s 50 day moving average price is $153.49 and its 200-day moving average price is $137.83. The company has a market capitalization of $25.19 billion, a price-to-earnings ratio of 16.86 and a beta of 1.46.

Lam Research Corporation (NASDAQ:LRCX) last released its earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.02 by $0.09. The company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.31 billion. Lam Research Corporation had a return on equity of 26.95% and a net margin of 21.19%. Lam Research Corporation’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.80 earnings per share. On average, equities analysts forecast that Lam Research Corporation will post $12.71 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, September 12th. This represents a $1.80 annualized dividend and a yield of 1.16%. Lam Research Corporation’s dividend payout ratio (DPR) is presently 19.57%.

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Several research analysts have weighed in on LRCX shares. Needham & Company LLC reissued a “buy” rating and issued a $165.00 price objective (up previously from $145.00) on shares of Lam Research Corporation in a research report on Saturday, April 22nd. Deutsche Bank AG boosted their price objective on Lam Research Corporation from $135.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, April 19th. Citigroup Inc. reissued a “buy” rating and issued a $200.00 price objective on shares of Lam Research Corporation in a research report on Wednesday, May 17th. Goldman Sachs Group, Inc. (The) cut Lam Research Corporation from a “conviction-buy” rating to a “buy” rating and boosted their price objective for the stock from $153.00 to $160.00 in a research report on Monday, May 8th. They noted that the move was a valuation call. Finally, B. Riley reissued a “buy” rating and issued a $175.00 price objective on shares of Lam Research Corporation in a research report on Monday, April 24th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Lam Research Corporation presently has a consensus rating of “Buy” and a consensus price target of $172.41.

Institutional investors have recently added to or reduced their stakes in the stock. Ibex Wealth Advisors increased its position in Lam Research Corporation by 6.4% in the fourth quarter. Ibex Wealth Advisors now owns 8,936 shares of the semiconductor company’s stock valued at $1,004,000 after buying an additional 537 shares during the period. USA Financial Portformulas Corp bought a new position in Lam Research Corporation during the fourth quarter valued at $8,853,000. Kentucky Retirement Systems bought a new position in Lam Research Corporation during the fourth quarter valued at $1,249,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Lam Research Corporation during the fourth quarter valued at $557,000. Finally, Chevy Chase Trust Holdings Inc. increased its position in Lam Research Corporation by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 141,598 shares of the semiconductor company’s stock valued at $18,176,000 after buying an additional 4,436 shares during the period. Institutional investors 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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