Timothy Archer Sells 16,574 Shares of Lam Research Co. (LRCX) Stock

Lam Research Co. (NASDAQ:LRCX) COO Timothy Archer sold 16,574 shares of the company’s stock in a transaction on Wednesday, March 21st. The shares were sold at an average price of $221.41, for a total transaction of $3,669,649.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Timothy Archer also recently made the following trade(s):

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  • On Friday, March 9th, Timothy Archer sold 6,465 shares of Lam Research stock. The shares were sold at an average price of $214.28, for a total transaction of $1,385,320.20.

Shares of Lam Research stock opened at $202.63 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.47 and a quick ratio of 2.09. Lam Research Co. has a fifty-two week low of $124.91 and a fifty-two week high of $234.88. The firm has a market cap of $35,005.46, a PE ratio of 22.34, a P/E/G ratio of 0.72 and a beta of 1.43.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.68 by $0.66. Lam Research had a net margin of 17.60% and a return on equity of 36.08%. The company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the prior year, the business posted $2.24 EPS. The firm’s revenue was up 37.1% compared to the same quarter last year. analysts expect that Lam Research Co. will post 16.76 earnings per share for the current fiscal year.

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

Lam Research announced that its board has approved a stock buyback plan on Tuesday, March 6th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

A number of large investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. increased its stake in Lam Research by 17.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 21,141 shares of the semiconductor company’s stock valued at $3,891,000 after buying an additional 3,213 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Lam Research by 14.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 55,470 shares of the semiconductor company’s stock worth $10,212,000 after purchasing an additional 7,091 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Lam Research by 2.7% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 148,170 shares of the semiconductor company’s stock worth $27,274,000 after purchasing an additional 3,943 shares during the last quarter. Delek Group Ltd. purchased a new stake in shares of Lam Research during the 4th quarter worth approximately $957,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in shares of Lam Research by 61.9% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,111 shares of the semiconductor company’s stock worth $1,493,000 after purchasing an additional 3,100 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

A number of analysts have commented on the stock. Bank of America began coverage on shares of Lam Research in a research report on Wednesday. They set a “buy” rating and a $305.00 price target on the stock. FBN Securities began coverage on shares of Lam Research in a research report on Thursday, March 15th. They set an “outperform” rating and a $300.00 price objective on the stock. Vetr raised shares of Lam Research from a “buy” rating to a “strong-buy” rating and set a $250.51 price objective on the stock in a research report on Thursday, March 15th. BidaskClub raised shares of Lam Research from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 13th. Finally, DA Davidson increased their price objective on shares of Lam Research to $275.00 and gave the stock a “buy” rating in a research report on Thursday, March 8th. Twenty-five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $243.69.

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About Lam Research

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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