Rep. Marjorie Taylor Greene Purchases Shares of Lam Research Co. (NASDAQ:LRCX)

Representative Marjorie Taylor Greene (R-Georgia) recently bought shares of Lam Research Co. (NASDAQ:LRCX). In a filing disclosed on October 08th, the Representative disclosed that they had bought between $1,001 and $15,000 in Lam Research stock on October 4th.

Representative Marjorie Taylor Greene also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Costco Wholesale (NASDAQ:COST) on 10/4/2024.
• Purchased $1,001 – $15,000 in shares of FedEx (NYSE:FDX) on 10/4/2024.
• Purchased $1,001 – $15,000 in shares of Visa (NYSE:V) on 10/4/2024.
• Purchased $1,001 – $15,000 in shares of ASML (NASDAQ:ASML) on 10/4/2024.
• Purchased $1,001 – $15,000 in shares of JPMorgan Chase & Co. (NYSE:JPM) on 10/4/2024.
• Purchased $1,001 – $15,000 in shares of Dell Technologies (NYSE:DELL) on 10/4/2024.
• Purchased $1,001 – $15,000 in shares of Applied Materials (NASDAQ:AMAT) on 10/4/2024.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 9/20/2024.
• Purchased $1,001 – $15,000 in shares of Cardinal Health (NYSE:CAH) on 9/20/2024.
• Purchased $1,001 – $15,000 in shares of United Parcel Service (NYSE:UPS) on 9/20/2024.

Lam Research Price Performance

Shares of LRCX traded down $0.03 during trading hours on Thursday, reaching $74.11. 10,535,121 shares of the company traded hands, compared to its average volume of 11,066,857. The stock has a fifty day simple moving average of $95.11 and a 200 day simple moving average of $95.84. Lam Research Co. has a fifty-two week low of $57.44 and a fifty-two week high of $113.00. The stock has a market capitalization of $9.69 billion, a PE ratio of 2.74, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the previous year, the firm posted $0.60 earnings per share. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. As a group, research analysts predict that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were issued a $0.23 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.24%. Lam Research’s dividend payout ratio (DPR) is 3.38%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LRCX. B. Riley raised their price target on Lam Research from $113.00 to $132.50 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Citigroup lowered their target price on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Wells Fargo & Company cut their target price on Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Finally, Cantor Fitzgerald lowered their price target on Lam Research from $120.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, September 30th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $141.28.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the sale, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lam Research

A number of hedge funds have recently bought and sold shares of LRCX. Kozak & Associates Inc. raised its stake in Lam Research by 903.8% during the third quarter. Kozak & Associates Inc. now owns 3,403 shares of the semiconductor company’s stock worth $2,777,000 after acquiring an additional 3,064 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Lam Research by 2.0% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,698 shares of the semiconductor company’s stock worth $11,179,000 after purchasing an additional 265 shares during the period. Trust Co. of Vermont lifted its holdings in shares of Lam Research by 5.2% in the 3rd quarter. Trust Co. of Vermont now owns 3,917 shares of the semiconductor company’s stock worth $3,197,000 after purchasing an additional 195 shares during the last quarter. nVerses Capital LLC boosted its position in Lam Research by 71.4% during the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the semiconductor company’s stock valued at $979,000 after purchasing an additional 500 shares during the period. Finally, Greater Midwest Financial Group LLC bought a new position in Lam Research during the 3rd quarter worth $1,644,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

About Representative Greene

Marjorie Taylor Greene (Republican Party) is a member of the U.S. House, representing Georgia’s 14th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2025. Greene (Republican Party) is running for re-election to the U.S. House to represent Georgia’s 14th Congressional District. She declared candidacy for the 2024 election. Marjorie Taylor Greene earned a bachelor’s degree in business administration from the University of Georgia. Greene’s career experience includes co-owning construction company Taylor Commercial and founding and owning a CrossFit gym.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.