Lam Research (NASDAQ:LRCX) Stock 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 opened at $78.20 on Friday. The business has a fifty day moving average price of $77.67 and a 200 day moving average price of $88.52. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The stock has a market capitalization of $100.62 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 1.22 and a beta of 1.48. Lam Research Co. has a 12 month low of $64.85 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.85 EPS. Sell-side analysts expect that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.18%. Lam Research’s payout ratio is 29.74%.

Institutional Investors Weigh In On Lam Research

Large investors have recently bought and sold shares of the stock. Van ECK Associates Corp lifted its position in Lam Research by 1,394.7% during the third 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 period. Vanguard Group Inc. grew its stake in Lam Research by 1.2% during the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after buying an additional 144,914 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of 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 buying an additional 142,903 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in 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 valued at $1,335,522,000 after purchasing an additional 89,470 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in 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 during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Morgan Stanley dropped their price objective on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. TD Cowen upped their price target on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $100.00 price objective (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and a consensus price target of $97.03.

Insider Transactions at Lam Research

In other news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate 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.

Lam Research Company Profile

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.