Lam Research Co. (NASDAQ:LRCX) SVP Vahid Vahedi sold 12,007 shares of Lam Research stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $220.00, for a total transaction of $2,641,540.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
LRCX stock traded up $2.59 during mid-day trading on Friday, hitting $229.33. The company had a trading volume of 126,132 shares, compared to its average volume of 1,470,898. The company has a market capitalization of $32.03 billion, a price-to-earnings ratio of 15.79, a P/E/G ratio of 1.36 and a beta of 1.62. Lam Research Co. has a 12-month low of $122.64 and a 12-month high of $232.26. The company has a quick ratio of 2.96, a current ratio of 3.61 and a debt-to-equity ratio of 0.81. The company has a 50-day moving average price of $205.28 and a 200 day moving average price of $190.77.
Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $3.62 EPS for the quarter, topping the consensus estimate of $3.40 by $0.22. The business had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Lam Research had a net margin of 22.70% and a return on equity of 43.72%. The business’s quarterly revenue was down 24.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.31 EPS. As a group, analysts expect that Lam Research Co. will post 13.57 EPS for the current year.
Hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC increased its holdings in shares of Lam Research by 119.4% in the 1st quarter. Global Retirement Partners LLC now owns 147 shares of the semiconductor company’s stock worth $26,000 after buying an additional 80 shares during the last quarter. Hexavest Inc. bought a new stake in Lam Research in the second quarter valued at about $28,000. Zions Bancorporation N.A. bought a new stake in shares of Lam Research in the first quarter worth about $28,000. MUFG Americas Holdings Corp boosted its position in Lam Research by 75.0% during the second quarter. MUFG Americas Holdings Corp now owns 175 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 75 shares during the last quarter. Finally, Strategy Asset Managers LLC acquired a new position in Lam Research during the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 87.19% of the company’s stock.
LRCX has been the topic of a number of analyst reports. DA Davidson cut shares of Lam Research from a “buy” rating to a “neutral” rating and lowered their target price for the company from $225.00 to $200.00 in a research note on Monday, July 8th. Goldman Sachs Group cut shares of Lam Research from a “buy” rating to a “neutral” rating in a research note on Monday, July 22nd. Cfra set a $210.00 target price on shares of Lam Research and gave the company a “hold” rating in a research note on Saturday, August 31st. BidaskClub upgraded shares of Lam Research from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, KeyCorp lifted their target price on shares of Lam Research from $236.00 to $252.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $220.00.
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 ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.
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