Seshasayee Varadarajan Sells 10,000 Shares of Lam Research Co. (NASDAQ:LRCX) Stock

Lam Research Co. (NASDAQ:LRCX) SVP Seshasayee Varadarajan sold 10,000 shares of Lam Research stock in a transaction dated Thursday, January 13th. The stock was sold at an average price of $712.50, for a total transaction of $7,125,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of LRCX stock opened at $729.82 on Friday. Lam Research Co. has a 12 month low of $481.05 and a 12 month high of $731.85. The stock has a market cap of $102.76 billion, a PE ratio of 24.64, a price-to-earnings-growth ratio of 1.17 and a beta of 1.16. The company has a current ratio of 3.27, a quick ratio of 2.43 and a debt-to-equity ratio of 0.86. The company’s fifty day moving average price is $675.43 and its 200-day moving average price is $624.28.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Tuesday, October 19th. The semiconductor company reported $8.36 EPS for the quarter, beating the Zacks’ consensus estimate of $8.21 by $0.15. Lam Research had a net margin of 27.07% and a return on equity of 75.96%. The firm had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.32 billion. During the same quarter in the previous year, the business posted $5.67 EPS. The company’s quarterly revenue was up 35.5% on a year-over-year basis. On average, sell-side analysts forecast that Lam Research Co. will post 34.4 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 5th. Stockholders of record on Wednesday, December 15th were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend was Tuesday, December 14th. Lam Research’s dividend payout ratio (DPR) is presently 20.26%.

LRCX has been the subject of several research analyst reports. Piper Sandler dropped their target price on shares of Lam Research from $600.00 to $597.00 and set a “neutral” rating for the company in a research report on Thursday, October 21st. The Goldman Sachs Group lifted their price target on shares of Lam Research from $680.00 to $777.00 and gave the stock a “buy” rating in a research note on Friday, December 17th. Susquehanna decreased their price target on shares of Lam Research from $690.00 to $590.00 and set a “neutral” rating on the stock in a research note on Thursday, October 21st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Lam Research from $650.00 to $720.00 and gave the stock a “hold” rating in a research note on Wednesday, December 15th. Finally, Jefferies Financial Group initiated coverage on shares of Lam Research in a research note on Wednesday, January 5th. They issued a “buy” rating and a $869.00 target price on the stock. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $715.46.

Institutional investors have recently made changes to their positions in the stock. Cedar Wealth Management LLC bought a new position in Lam Research in the 3rd quarter worth about $25,000. D Orazio & Associates Inc. bought a new position in Lam Research in the 3rd quarter worth about $26,000. Community Bank N.A. bought a new position in Lam Research in the 3rd quarter worth about $28,000. Carolinas Wealth Consulting LLC boosted its stake in Lam Research by 46.5% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 63 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 20 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. bought a new position in Lam Research in the 3rd quarter worth about $36,000. Institutional investors own 80.53% of the company’s stock.

Lam Research Company Profile

Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.

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

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