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.
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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