Lam Research Co. (NASDAQ:LRCX) VP Patrick J. Lord sold 264 shares of Lam Research stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $216.08, for a total value of $57,045.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Lam Research Co. (NASDAQ:LRCX) traded down $0.21 during trading on Wednesday, hitting $180.53. The stock had a trading volume of 5,164,700 shares, compared to its average volume of 2,159,393. Lam Research Co. has a 1-year low of $101.88 and a 1-year high of $219.70. The company has a quick ratio of 2.83, a current ratio of 3.31 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $29,510.00, a price-to-earnings ratio of 15.57, a P/E/G ratio of 0.83 and a beta of 1.57.
Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.46 billion. Lam Research had a return on equity of 30.19% and a net margin of 22.85%. The company’s revenue was up 51.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.81 earnings per share. equities research analysts expect that Lam Research Co. will post 14.74 EPS for the current year.
Lam Research declared that its board has approved a stock repurchase plan on Tuesday, November 14th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
A number of large investors have recently bought and sold shares of the stock. Janus Henderson Group PLC boosted its stake in Lam Research by 23,238.8% in the second quarter. Janus Henderson Group PLC now owns 4,742,669 shares of the semiconductor company’s stock valued at $670,756,000 after acquiring an additional 4,722,348 shares in the last quarter. Harbour Capital Advisors LLC boosted its stake in Lam Research by 13,054.2% in the second quarter. Harbour Capital Advisors LLC now owns 1,890,919 shares of the semiconductor company’s stock valued at $13,370,000 after acquiring an additional 1,876,544 shares in the last quarter. Old Mutual Global Investors UK Ltd. boosted its stake in Lam Research by 1,696.5% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 878,960 shares of the semiconductor company’s stock valued at $124,311,000 after acquiring an additional 830,034 shares in the last quarter. Schroder Investment Management Group boosted its stake in Lam Research by 3,248.5% in the third quarter. Schroder Investment Management Group now owns 703,625 shares of the semiconductor company’s stock valued at $127,933,000 after acquiring an additional 682,612 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in Lam Research by 66.0% in the third quarter. Nordea Investment Management AB now owns 1,575,269 shares of the semiconductor company’s stock valued at $291,488,000 after acquiring an additional 626,034 shares in the last quarter. 93.80% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have commented on LRCX shares. B. Riley reiterated a “buy” rating and set a $220.00 price objective on shares of Lam Research in a research note on Tuesday, August 15th. Argus started coverage on Lam Research in a report on Tuesday, September 12th. They issued a “buy” rating and a $196.00 price objective on the stock. DA Davidson reiterated a “buy” rating on shares of Lam Research in a report on Wednesday, October 18th. Stifel Nicolaus upped their price objective on Lam Research from $215.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Finally, Royal Bank Of Canada upped their price objective on Lam Research from $185.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 18th. Four equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $212.89.
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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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