Insider Selling: Lam Research Co. (LRCX) CEO Sells 11,200 Shares of Stock

Lam Research Co. (NASDAQ:LRCX) CEO Martin B. Anstice sold 11,200 shares of the firm’s stock in a transaction on Wednesday, March 21st. The shares were sold at an average price of $225.00, for a total transaction of $2,520,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

LRCX stock opened at $202.63 on Friday. The company has a market cap of $36,546.99, a PE ratio of 22.34, a PEG ratio of 0.90 and a beta of 1.43. Lam Research Co. has a 1-year low of $124.91 and a 1-year high of $234.88. The company has a current ratio of 2.47, a quick ratio of 2.09 and a debt-to-equity ratio of 0.29.

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Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $4.34 EPS for the quarter, topping analysts’ consensus estimates of $3.68 by $0.66. The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.57 billion. Lam Research had a net margin of 17.60% and a return on equity of 36.08%. The firm’s revenue for the quarter was up 37.1% compared to the same quarter last year. During the same period last year, the firm earned $2.24 EPS. research analysts anticipate that Lam Research Co. will post 16.74 earnings per share for the current fiscal year.

Lam Research declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 6th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 7th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Tuesday, March 6th. Lam Research’s dividend payout ratio is currently 22.05%.

A number of hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC lifted its holdings in Lam Research by 5.7% during the 3rd quarter. Janus Henderson Group PLC now owns 5,014,215 shares of the semiconductor company’s stock valued at $927,828,000 after purchasing an additional 271,546 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Lam Research by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 1,917,899 shares of the semiconductor company’s stock valued at $352,365,000 after purchasing an additional 74,507 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Lam Research by 66.0% during the 3rd quarter. Nordea Investment Management AB now owns 1,575,269 shares of the semiconductor company’s stock valued at $291,488,000 after purchasing an additional 626,034 shares during the last quarter. UBS Asset Management Americas Inc. lifted its holdings in Lam Research by 16.3% during the 4th quarter. UBS Asset Management Americas Inc. now owns 1,568,123 shares of the semiconductor company’s stock valued at $288,644,000 after purchasing an additional 219,479 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. lifted its holdings in Lam Research by 16.4% during the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 1,055,653 shares of the semiconductor company’s stock valued at $194,314,000 after purchasing an additional 148,375 shares during the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Several research firms have issued reports on LRCX. BidaskClub upgraded shares of Lam Research from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 13th. Vetr lowered shares of Lam Research from a “strong-buy” rating to a “buy” rating and set a $240.39 price target on the stock. in a research report on Monday, March 12th. FBN Securities began coverage on shares of Lam Research in a research report on Thursday, March 15th. They issued an “outperform” rating and a $300.00 price target on the stock. Bank of America began coverage on shares of Lam Research in a research report on Wednesday. They issued a “buy” rating and a $305.00 price target on the stock. Finally, Deutsche Bank raised their price target on shares of Lam Research to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, March 7th. Twenty-five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $243.69.

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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.

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

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