Lam Research (NASDAQ:LRCX) insider Patrick J. Lord sold 6,208 shares of Lam Research stock in a transaction dated Friday, April 20th. The shares were sold at an average price of $193.65, for a total value of $1,202,179.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of NASDAQ LRCX opened at $191.86 on Tuesday. The company has a current ratio of 2.64, a quick ratio of 2.21 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $31,272.21, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 0.62 and a beta of 1.40. Lam Research has a 12 month low of $139.24 and a 12 month high of $234.88.
Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Tuesday, April 17th. The semiconductor company reported $4.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.38 by $0.41. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.85 billion. Lam Research had a return on equity of 41.25% and a net margin of 18.32%. The company’s revenue for the quarter was up 34.3% on a year-over-year basis. During the same period in the previous year, the business posted $3.10 EPS. research analysts forecast that Lam Research will post 17.54 earnings per share for the current fiscal year.
Lam Research declared that its Board of Directors has approved a stock buyback program on Tuesday, March 6th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
LRCX has been the subject of several research reports. Zacks Investment Research upgraded Lam Research from a “hold” rating to a “buy” rating and set a $234.00 price target for the company in a report on Tuesday, January 23rd. Nomura reiterated a “buy” rating and set a $230.00 price target on shares of Lam Research in a report on Monday, January 22nd. DA Davidson reiterated a “buy” rating and set a $235.00 price target on shares of Lam Research in a report on Monday, January 22nd. B. Riley reiterated a “buy” rating and set a $250.00 price target on shares of Lam Research in a report on Monday, January 22nd. Finally, BidaskClub lowered Lam Research from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 20th. Two analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $252.60.
A number of hedge funds and other institutional investors have recently modified their holdings of LRCX. Northwestern Mutual Wealth Management Co. increased its position in Lam Research by 144.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock worth $122,000 after buying an additional 392 shares during the period. Focused Wealth Management Inc bought a new position in Lam Research in the 4th quarter worth approximately $140,000. First National Trust Co bought a new stake in shares of Lam Research during the fourth quarter valued at approximately $201,000. Squar Milner Financial Services LLC bought a new stake in shares of Lam Research during the fourth quarter valued at approximately $204,000. Finally, Gilman Hill Asset Management LLC bought a new stake in shares of Lam Research during the fourth quarter valued at approximately $207,000. 89.76% of the stock is currently owned by institutional investors.
Lam Research Company Profile
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers thin film deposition products, including SABRE electrochemical deposition products for copper damascene manufacturing; ALTUS systems to deposit conformal atomic layer films for tungsten metallization applications; VECTOR plasma-enhanced chemical vapor deposition (CVD) and atomic layer deposition systems to deposit oxides, nitrides, and carbides for hardmasks, multiple patterning films, anti-reflective layers, multi-layer stack films, and diffusion barriers; and Striker atomic layer deposition systems that deliver conformal dielectric films for spacer-based patterning and liner applications in various advanced memory and logic structures.
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