Timothy Archer Sells 28,580 Shares of Lam Research Corporation (LRCX) Stock

Timothy Archer Sells 28,580 Shares of Lam Research Corporation (LRCX) Stock

Lam Research Corporation (NASDAQ:LRCX) COO Timothy Archer sold 28,580 shares of the stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $115.22, for a total value of $3,292,987.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Timothy Archer also recently made the following trade(s):

Shares of Lam Research Corporation (NASDAQ:LRCX) opened at 117.65 on Monday. Lam Research Corporation has a 1-year low of $63.10 and a 1-year high of $119.14. The company’s 50 day moving average price is $110.55 and its 200-day moving average price is $99.69. The firm has a market cap of $19.16 billion, a price-to-earnings ratio of 21.09 and a beta of 1.44.

Lam Research Corporation (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 25th. The company reported $2.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.19 by $0.05. The business earned $1.88 billion during the quarter, compared to analyst estimates of $1.84 billion. Lam Research Corporation had a return on equity of 19.95% and a net margin of 15.67%. The business’s revenue for the quarter was up 32.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.57 EPS. Equities analysts expect that Lam Research Corporation will post $9.22 EPS for the current fiscal year.

LRCX has been the subject of several research analyst reports. RBC Capital Markets reissued an “outperform” rating and issued a $105.00 price objective on shares of Lam Research Corporation in a report on Sunday, October 9th. Needham & Company LLC reissued a “buy” rating and issued a $120.00 price objective (up from $115.00) on shares of Lam Research Corporation in a report on Monday, October 17th. Bank of America Corporation reissued a “buy” rating and issued a $115.00 price objective on shares of Lam Research Corporation in a report on Monday, November 21st. Goldman Sachs Group, Inc. (The) initiated coverage on Lam Research Corporation in a report on Tuesday, October 25th. They issued a “neutral” rating and a $104.00 price objective for the company. Finally, Zacks Investment Research raised Lam Research Corporation from a “hold” rating to a “buy” rating and set a $122.00 price objective for the company in a report on Tuesday, January 10th. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Lam Research Corporation currently has a consensus rating of “Buy” and a consensus target price of $119.18.

A number of hedge funds have recently made changes to their positions in the stock. Aberdeen Asset Management PLC UK increased its stake in shares of Lam Research Corporation by 5.0% in the second quarter. Aberdeen Asset Management PLC UK now owns 203,168 shares of the company’s stock valued at $17,078,000 after buying an additional 9,715 shares during the last quarter. Concert Wealth Management Inc. increased its stake in shares of Lam Research Corporation by 4.0% in the second quarter. Concert Wealth Management Inc. now owns 10,528 shares of the company’s stock valued at $885,000 after buying an additional 408 shares during the last quarter. Kalos Management Inc. acquired a new stake in shares of Lam Research Corporation during the second quarter valued at $332,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Lam Research Corporation by 11.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 16,907 shares of the company’s stock valued at $1,421,000 after buying an additional 1,728 shares during the last quarter. Finally, BP PLC acquired a new stake in shares of Lam Research Corporation during the second quarter valued at $1,681,000.

Lam Research Corporation 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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