Lam Research Co. (NASDAQ:LRCX) CEO Timothy Archer sold 10,000 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $270.00, for a total transaction of $2,700,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of LRCX traded up $1.65 during mid-day trading on Tuesday, hitting $269.67. 67,131 shares of the company’s stock were exchanged, compared to its average volume of 1,311,554. The company has a market cap of $39.15 billion, a price-to-earnings ratio of 18.56, a P/E/G ratio of 1.31 and a beta of 1.64. Lam Research Co. has a fifty-two week low of $122.64 and a fifty-two week high of $285.87. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.99 and a current ratio of 3.59. The stock’s 50-day moving average is $268.68 and its 200-day moving average is $221.07.
Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $3.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.01 by $0.17. Lam Research had a net margin of 22.38% and a return on equity of 43.11%. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same period in the prior year, the firm earned $3.36 earnings per share. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Lam Research Co. will post 15.21 EPS for the current year.
A number of equities research analysts have recently issued reports on the stock. KeyCorp reaffirmed an “overweight” rating and set a $313.00 target price (up previously from $261.00) on shares of Lam Research in a report on Monday, November 25th. DA Davidson boosted their price target on shares of Lam Research to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Mizuho boosted their price target on shares of Lam Research from $194.00 to $225.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. They noted that the move was a valuation call. Citigroup upped their target price on shares of Lam Research from $282.00 to $330.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada upped their target price on shares of Lam Research from $230.00 to $273.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $260.50.
Institutional investors have recently made changes to their positions in the business. Marquette Asset Management LLC purchased a new position in Lam Research in the third quarter valued at approximately $35,000. MUFG Americas Holdings Corp increased its stake in Lam Research by 75.0% in 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. Next Capital Management LLC purchased a new position in Lam Research in the second quarter valued at approximately $35,000. HM Payson & Co. purchased a new position in Lam Research in the second quarter valued at approximately $36,000. Finally, Northwest Investment Counselors LLC purchased a new position in Lam Research in the third quarter valued at approximately $49,000. Institutional investors own 86.64% of the company’s stock.
About Lam Research
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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