Lam Research (NASDAQ:LRCX) Shares Unloaded Rep. Josh Gottheimer

Representative Josh Gottheimer (D-New Jersey) recently sold shares of Lam Research Co. NASDAQ: LRCX. In a filing disclosed on November 06th, the Representative disclosed that they had sold between $1,001 and $15,000 in Lam Research stock on October 22nd. The trade occurred in the Representative's "MORGAN STANLEY - SELECT UMA ACCOUNT # 1" account.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Texas Capital Bancshares NASDAQ: TCBI on 10/31/2024.
• Sold $1,001 - $15,000 in shares of ITT NYSE: ITT on 10/31/2024.
• Sold $1,001 - $15,000 in shares of Stifel Financial NYSE: SF on 10/31/2024.
• Sold $1,001 - $15,000 in shares of ICU Medical NASDAQ: ICUI on 10/31/2024.
• Sold $1,001 - $15,000 in shares of AppFolio NASDAQ: APPF on 10/31/2024.
• Purchased $1,001 - $15,000 in shares of Gates Industrial NYSE: GTES on 10/31/2024.
• Purchased $1,001 - $15,000 in shares of Techtronic Industries OTCMKTS: TTNDY on 10/29/2024.
• Purchased $1,001 - $15,000 in shares of Techtronic Industries OTCMKTS: TTNDY on 10/28/2024.
• Purchased $1,001 - $15,000 in shares of Disco OTCMKTS: DSCSY on 10/28/2024.
• Purchased $1,001 - $15,000 in shares of Enerpac Tool Group NYSE: EPAC on 10/25/2024.

Lam Research Stock Down 1.3 %

Shares of NASDAQ:LRCX traded down $1.01 during trading on Friday, hitting $78.20. The company's stock had a trading volume of 7,518,550 shares, compared to its average volume of 11,264,045. Lam Research Co. has a fifty-two week low of $64.85 and a fifty-two week high of $113.00. The stock's 50-day moving average price is $77.67 and its two-hundred day moving average price is $88.52. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The company has a market capitalization of $100.62 billion, a PE ratio of 25.31, a PEG ratio of 1.18 and a beta of 1.48.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The company had revenue of $4.17 billion during the quarter, compared to analysts' expectations of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business's revenue was up 19.7% on a year-over-year basis. During the same period in the prior year, the business posted $6.85 EPS. As a group, sell-side analysts expect that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.18%. Lam Research's payout ratio is 29.77%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LRCX. Stifel Nicolaus reaffirmed a "buy" rating and set a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft decreased their target price on Lam Research from $110.00 to $95.00 and set a "buy" rating for the company in a research report on Thursday, August 1st. Cantor Fitzgerald reissued a "neutral" rating and set a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. StockNews.com downgraded shares of Lam Research from a "buy" rating to a "hold" rating in a report on Friday, October 11th. Finally, B. Riley lowered their target price on shares of Lam Research from $132.50 to $105.00 and set a "buy" rating for the company in a research note on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.03.

Institutional Trading of Lam Research

Hedge funds and other institutional investors have recently modified their holdings of the business. Csenge Advisory Group lifted its position in Lam Research by 7.4% in the 1st quarter. Csenge Advisory Group now owns 306 shares of the semiconductor company's stock worth $297,000 after buying an additional 21 shares in the last quarter. WBI Investments LLC purchased a new stake in shares of Lam Research during the first quarter worth $239,000. Geneos Wealth Management Inc. boosted its position in Lam Research by 5,948.4% during the first quarter. Geneos Wealth Management Inc. now owns 3,750 shares of the semiconductor company's stock valued at $3,643,000 after purchasing an additional 3,688 shares during the last quarter. Mitchell Capital Management Co. grew its stake in Lam Research by 10.7% in the first quarter. Mitchell Capital Management Co. now owns 536 shares of the semiconductor company's stock valued at $521,000 after purchasing an additional 52 shares in the last quarter. Finally, Empirical Finance LLC increased its position in Lam Research by 3.3% in the 1st quarter. Empirical Finance LLC now owns 4,938 shares of the semiconductor company's stock worth $4,798,000 after purchasing an additional 157 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Insider Transactions at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the business'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 completion of the sale, the chief accounting officer now directly owns 4,267 shares of the company's stock, valued at $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.29% of the company's stock.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey's 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey's 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer's career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer's committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

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.