Douglas R. Bettinger Sells 9,956 Shares of Lam Research Corp. (LRCX) Stock
Lam Research Corp. (NASDAQ:LRCX) CFO Douglas R. Bettinger sold 9,956 shares of the firm’s stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $106.88, for a total value of $1,064,097.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Lam Research Corp. (NASDAQ:LRCX) opened at 107.57 on Wednesday. The firm’s 50-day moving average price is $99.65 and its 200-day moving average price is $90.97. The firm has a market capitalization of $17.52 billion, a P/E ratio of 21.35 and a beta of 1.49. Lam Research Corp. has a 12-month low of $63.10 and a 12-month high of $108.04.
Lam Research Corp. (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 19th. The company reported $1.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.03. Lam Research Corp. had a net margin of 15.02% and a return on equity of 18.43%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the firm earned $1.82 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts predict that Lam Research Corp. will post $8.28 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Stockholders of record on Wednesday, December 14th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, December 12th. This is a boost from Lam Research Corp.’s previous quarterly dividend of $0.30. This represents a $1.80 annualized dividend and a dividend yield of 1.67%. Lam Research Corp.’s dividend payout ratio (DPR) is currently 23.86%.
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LRCX has been the subject of a number of research reports. Credit Suisse Group AG reissued a “buy” rating and set a $100.00 price objective on shares of Lam Research Corp. in a research report on Sunday, August 14th. RBC Capital Markets lifted their price objective on Lam Research Corp. from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 20th. Citigroup Inc. reissued a “buy” rating and set a $108.00 price objective on shares of Lam Research Corp. in a research report on Thursday, October 6th. Needham & Company LLC lifted their price objective on Lam Research Corp. from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 6th. Finally, Nomura cut Lam Research Corp. from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $95.00 to $85.00 in a research report on Thursday, August 11th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Lam Research Corp. currently has a consensus rating of “Buy” and an average price target of $107.24.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. MSI Financial Services Inc boosted its position in shares of Lam Research Corp. by 40.2% in the third quarter. MSI Financial Services Inc now owns 1,095 shares of the company’s stock worth $104,000 after buying an additional 314 shares during the period. New York Life Trust Co. boosted its position in shares of Lam Research Corp. by 95.3% in the third quarter. New York Life Trust Co. now owns 1,170 shares of the company’s stock worth $111,000 after buying an additional 571 shares during the period. Quadrant Capital Group LLC boosted 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 worth $103,000 after buying an additional 280 shares during the period. Global X Management Co. LLC boosted its position in shares of Lam Research Corp. by 97.4% in the third quarter. Global X Management Co. LLC now owns 1,344 shares of the company’s stock worth $127,000 after buying an additional 663 shares during the period. Finally, TLP Group LLC purchased a new position in shares of Lam Research Corp. during the third quarter worth about $132,000.
Lam Research Corp. Company Profile
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.
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