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

08 Nov 2024, 11:41 by Mitch Edgeman · The Markets Daily

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 Performance

Lam Research stock opened at $79.21 on Friday. Lam Research Co. has a 52 week low of $64.11 and a 52 week high of $113.00. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The stock has a market cap of $101.92 billion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 1.18 and a beta of 1.48. The stock has a 50 day moving average of $77.73 and a 200-day moving average of $88.66.

Lam Research (NASDAQ:LRCX – Get Free Report) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. The company had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company’s revenue was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.85 EPS. On average, analysts expect that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.16%. Lam Research’s dividend payout ratio is presently 29.74%.

Insider Activity

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research 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 transaction, the chief accounting officer now 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LRCX. Csenge Advisory Group boosted its stake in Lam Research by 7.4% during the 1st quarter. Csenge Advisory Group now owns 306 shares of the semiconductor company’s stock valued at $297,000 after purchasing an additional 21 shares in the last quarter. WBI Investments LLC bought a new position in Lam Research during the first quarter valued at about $239,000. Geneos Wealth Management Inc. boosted its stake 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 buying an additional 3,688 shares in the last quarter. Mitchell Capital Management Co. grew its holdings in Lam Research by 10.7% during the first quarter. Mitchell Capital Management Co. now owns 536 shares of the semiconductor company’s stock worth $521,000 after acquiring an additional 52 shares during the period. Finally, Empirical Finance LLC lifted its holdings in Lam Research by 3.3% in the 1st quarter. Empirical Finance LLC now owns 4,938 shares of the semiconductor company’s stock valued at $4,798,000 after acquiring an additional 157 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LRCX. Mizuho decreased their target price on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Citigroup lowered their target price on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. B. Riley reduced their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. 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, BNP Paribas raised shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Get Our Latest Report on LRCX

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

(Get Free Report)

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.