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 17th.

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 Trading Down 1.3 %

LRCX stock traded down $1.01 during midday trading on Friday, reaching $78.20. The company's stock had a trading volume of 7,518,550 shares, compared to its average volume of 11,264,045. The business's 50-day simple moving average is $77.67 and its 200-day simple moving average is $88.52. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Lam Research Co. has a 52 week low of $64.85 and a 52 week high of $113.00. The stock has a market cap of $100.62 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 1.18 and a beta of 1.48.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.05. The business 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 firm's quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.85 earnings per share. As a group, sell-side analysts expect that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.18%. Lam Research's dividend payout ratio is currently 29.77%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on LRCX shares. B. Riley lowered their price target on Lam Research from $132.50 to $105.00 and set a "buy" rating for the company in a research note on Wednesday, October 23rd. Cantor Fitzgerald reiterated a "neutral" rating and issued a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Wells Fargo & Company reduced their price target on shares of Lam Research from $88.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 24th. Morgan Stanley lowered their price objective on shares of Lam Research from $81.00 to $77.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 23rd. Finally, Citigroup reduced their target price on Lam Research from $99.00 to $89.30 and set a "buy" rating on the stock in a report on Monday, September 16th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.03.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of the business's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LRCX. Van ECK Associates Corp boosted its stake in shares of Lam Research by 1,394.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company's stock worth $13,123,440,000 after buying an additional 15,005,178 shares during the last quarter. Vanguard Group Inc. grew its stake in Lam Research by 1.2% in the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company's stock valued at $11,519,576,000 after purchasing an additional 144,914 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Lam Research by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company's stock valued at $2,875,023,000 after purchasing an additional 142,903 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Lam Research by 7.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company's stock worth $1,335,522,000 after purchasing an additional 89,470 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Lam Research by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company's stock worth $654,009,000 after purchasing an additional 25,362 shares in the last quarter. Institutional investors own 84.61% 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.