Lam Research Corporation (NASDAQ:LRCX) Director Sells $244,125.00 in Stock

Lam Research Corporation (NASDAQ:LRCX) Director Stephen G. Newberry sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $162.75, for a total value of $244,125.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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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 stock was sold at an average price of $160.50, for a total value of $120,375.00.
On Wednesday, July 12th, Stephen G. Newberry sold 750 shares of Lam Research Corporation stock. The stock was sold at an average price of $155.41, for a total value of $116,557.50.
On Thursday, May 18th, Stephen G. Newberry sold 20,047 shares of Lam Research Corporation stock. The stock was sold at an average price of $150.01, for a total value of $3,007,250.47.

Shares of Lam Research Corporation (NASDAQ:LRCX) traded up 0.43% on Monday, reaching $164.23. The company’s stock had a trading volume of 204,065 shares. The firm has a 50-day moving average price of $152.86 and a 200 day moving average price of $134.18. The firm has a market capitalization of $26.49 billion, a PE ratio of 20.86 and a beta of 1.45. Lam Research Corporation has a one year low of $88.13 and a one year high of $167.05.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 28th. Stockholders of record on Wednesday, June 7th were given a $0.45 dividend. The ex-dividend date of this dividend was Monday, June 5th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.10%. Lam Research Corporation’s payout ratio is 22.96%.

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A number of equities analysts have recently weighed in on LRCX shares. BidaskClub raised Lam Research Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research downgraded Lam Research Corporation from a “buy” rating to a “hold” rating in a research note on Monday, March 27th. Citigroup Inc. restated a “buy” rating and issued a $200.00 price objective on shares of Lam Research Corporation in a research note on Wednesday, May 17th. Royal Bank Of Canada reiterated an “outperform” rating and set a $145.00 price target (up previously from $140.00) on shares of Lam Research Corporation in a research note on Tuesday, April 18th. Finally, Morgan Stanley restated an “overweight” rating on shares of Lam Research Corporation in a research note on Friday, July 7th. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Lam Research Corporation currently has an average rating of “Buy” and a consensus target price of $153.59.

Hedge funds have recently bought and sold shares of the company. Benson Investment Management Company Inc. acquired a new stake in Lam Research Corporation during the second quarter worth $2,192,000. Financial Architects Inc boosted its stake in Lam Research Corporation by 1,164.8% in the second quarter. Financial Architects Inc now owns 1,366 shares of the semiconductor company’s stock worth $193,000 after buying an additional 1,258 shares during the last quarter. Altfest L J & Co. Inc. acquired a new stake in Lam Research Corporation during the second quarter worth $663,000. APG Asset Management N.V. boosted its stake in Lam Research Corporation by 51.5% in the second quarter. APG Asset Management N.V. now owns 311,498 shares of the semiconductor company’s stock worth $44,055,000 after buying an additional 105,870 shares during the last quarter. Finally, Murphy Capital Management Inc. boosted its stake in Lam Research Corporation by 20.8% in the second quarter. Murphy Capital Management Inc. now owns 7,250 shares of the semiconductor company’s stock worth $1,025,000 after buying an additional 1,250 shares during the last quarter. 99.18% of the stock is owned by hedge funds and other institutional investors.

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.