Rep. Josh Gottheimer Sells Off Shares of Lam Research Co. (NASDAQ:LRCX)

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 Stock Up 3.2 %

Shares of LRCX opened at $79.21 on Friday. The firm has a market cap of $101.92 billion, a P/E ratio of 25.60, a P/E/G ratio of 1.18 and a beta of 1.48. The stock has a 50 day simple moving average of $77.73 and a two-hundred day simple moving average of $88.66. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. Lam Research Co. has a 1 year low of $64.11 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The firm had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the previous year, the company posted $6.85 earnings per share. The business’s revenue was up 19.7% on a year-over-year basis. On average, analysts forecast 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. Shareholders of record on Wednesday, December 11th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.16%. Lam Research’s dividend payout ratio is currently 29.74%.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the sale, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Several large investors have recently modified their holdings of the stock. Meeder Asset Management Inc. grew its position in Lam Research by 4,323.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 2,875 shares of the semiconductor company’s stock valued at $2,346,000 after acquiring an additional 2,810 shares during the last quarter. Whalen Wealth Management Inc. purchased a new stake in Lam Research in the third quarter valued at about $798,000. Caprock Group LLC raised its stake in Lam Research by 4.9% in the third quarter. Caprock Group LLC now owns 3,317 shares of the semiconductor company’s stock valued at $2,715,000 after buying an additional 156 shares during the last quarter. Aviance Capital Partners LLC raised its stake in Lam Research by 8.8% in the third quarter. Aviance Capital Partners LLC now owns 10,711 shares of the semiconductor company’s stock valued at $8,741,000 after buying an additional 864 shares during the last quarter. Finally, Joseph Group Capital Management increased its holdings in shares of Lam Research by 32.2% in the third quarter. Joseph Group Capital Management now owns 4,315 shares of the semiconductor company’s stock valued at $3,521,000 after purchasing an additional 1,051 shares during the period. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the subject of a number of recent analyst reports. Morgan Stanley decreased their target price on Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Wells Fargo & Company dropped their price objective on 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. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. UBS Group dropped their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Finally, Mizuho decreased their price objective on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.03.

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.