Trade Report: The Lam Research Corp. (LRCX) Insider Richard A. Gottscho Sells 47,540 Shares

The Lam Research Corp. (LRCX) Insider Richard A. Gottscho Sells 47,540 Shares

Lam Research Corp. (NASDAQ:LRCX) insider Richard A. Gottscho sold 47,540 shares of the company’s stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $98.85, for a total value of $4,699,329.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Lam Research Corp. (NASDAQ:LRCX) opened at 98.68 on Thursday. The stock has a market capitalization of $15.81 billion, a price-to-earnings ratio of 18.90 and a beta of 1.47. The company has a 50-day moving average of $94.23 and a 200-day moving average of $86.26. Lam Research Corp. has a 52 week low of $63.10 and a 52 week high of $102.44.

Lam Research Corp. (NASDAQ:LRCX) last issued its earnings results on Wednesday, July 27th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.16. Lam Research Corp. had a net margin of 15.53% and a return on equity of 18.95%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the business posted $1.50 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. Analysts anticipate that Lam Research Corp. will post $7.02 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 14th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, September 12th. This represents a $1.20 annualized dividend and a yield of 1.22%. Lam Research Corp.’s payout ratio is currently 22.99%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC raised its position in shares of Lam Research Corp. by 28.6% in the second quarter. Quadrant Capital Group LLC now owns 1,258 shares of the company’s stock valued at $103,000 after buying an additional 280 shares during the last quarter. Mizuho Asset Management Co. Ltd. raised its position in shares of Lam Research Corp. by 92.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,060 shares of the company’s stock valued at $173,000 after buying an additional 992 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new position in shares of Lam Research Corp. during the second quarter valued at $177,000. Johnson Financial Group Inc. raised its position in shares of Lam Research Corp. by 6,044.7% in the second quarter. Johnson Financial Group Inc. now owns 2,335 shares of the company’s stock valued at $196,000 after buying an additional 2,297 shares during the last quarter. Finally, SSI Investment Management Inc. bought a new position in shares of Lam Research Corp. during the second quarter valued at $200,000.

Several brokerages have weighed in on LRCX. Zacks Investment Research raised Lam Research Corp. from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a research report on Tuesday, September 27th. RBC Capital Markets reaffirmed an “outperform” rating and set a $105.00 price target on shares of Lam Research Corp. in a research report on Sunday. Needham & Company LLC reaffirmed a “buy” rating and set a $105.00 price target on shares of Lam Research Corp. in a research report on Tuesday, September 20th. Cowen and Company reaffirmed an “outperform” rating and set a $95.00 price target on shares of Lam Research Corp. in a research report on Wednesday, August 31st. Finally, Citigroup Inc. increased their price target on Lam Research Corp. from $94.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $100.59.

Lam Research Corp. Company Profile

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