Rep. Marjorie Taylor Greene Purchases Shares of Lam Research Co. (NASDAQ:LRCX)

Representative Marjorie Taylor Greene (R-Georgia) recently bought shares of Lam Research Co. (NASDAQ:LRCX). In a filing disclosed on November 27th, the Representative disclosed that they had bought between $1,001 and $15,000 in Lam Research stock on November 25th.

Representative Marjorie Taylor Greene also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Charles Schwab (NYSE:SCHW) on 11/25/2024.
• Purchased $1,001 – $15,000 in shares of GSK (NYSE:GSK) on 11/25/2024.
• Purchased $1,001 – $15,000 in shares of Costco Wholesale (NASDAQ:COST) on 11/25/2024.
• Purchased $1,001 – $15,000 in shares of Advanced Micro Devices (NASDAQ:AMD) on 11/25/2024.
• Purchased $1,001 – $15,000 in shares of NextEra Energy (NYSE:NEE) on 11/25/2024.
• Purchased $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 11/25/2024.
• Purchased $1,001 – $15,000 in shares of Berkshire Hathaway (NYSE:BRK.B) on 11/25/2024.
• Purchased $1,001 – $15,000 in shares of Nestlé (OTCMKTS:NSRGY) on 11/25/2024.
• Purchased $1,001 – $15,000 in shares of United Parcel Service (NYSE:UPS) on 11/25/2024.
• Purchased $1,001 – $15,000 in shares of Johnson & Johnson (NYSE:JNJ) on 11/25/2024.

Lam Research Trading Down 1.5 %

Lam Research stock opened at $71.57 on Friday. The stock has a market cap of $92.09 billion, a P/E ratio of 23.13, a PEG ratio of 1.17 and a beta of 1.48. Lam Research Co. has a fifty-two week low of $68.72 and a fifty-two week high of $113.00. The firm’s fifty day moving average price is $76.62 and its 200-day moving average price is $86.79. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. Lam Research’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the previous year, the business posted $6.85 earnings per share. Equities research analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.29%. Lam Research’s payout ratio is 29.74%.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

LRCX has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft lowered their price target on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. B. Riley decreased their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. BNP Paribas raised Lam Research to a “hold” rating in a research note on Thursday, October 24th. Morgan Stanley decreased their price target 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. Finally, Citigroup cut their price objective 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. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $97.97.

Institutional Investors Weigh In On Lam Research

A number of large investors have recently made changes to their positions in LRCX. Synovus Financial Corp increased its position in Lam Research by 22.4% during the 3rd quarter. Synovus Financial Corp now owns 3,071 shares of the semiconductor company’s stock valued at $2,508,000 after purchasing an additional 561 shares during the period. Tidal Investments LLC increased its position in shares of Lam Research by 409.6% during the third quarter. Tidal Investments LLC now owns 37,420 shares of the semiconductor company’s stock valued at $30,538,000 after buying an additional 30,077 shares during the period. Wilmington Savings Fund Society FSB raised its stake in Lam Research by 383.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 4,547 shares of the semiconductor company’s stock worth $3,711,000 after buying an additional 3,607 shares in the last quarter. Arvest Bank Trust Division purchased a new stake in Lam Research in the third quarter worth about $18,106,000. Finally, Sanctuary Advisors LLC boosted its position in Lam Research by 838.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 159,913 shares of the semiconductor company’s stock valued at $130,502,000 after acquiring an additional 142,878 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

About Representative Greene

Marjorie Taylor Greene (Republican Party) is a member of the U.S. House, representing Georgia’s 14th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2025. Greene (Republican Party) is running for re-election to the U.S. House to represent Georgia’s 14th Congressional District. She declared candidacy for the 2024 election. Marjorie Taylor Greene earned a bachelor’s degree in business administration from the University of Georgia. Greene’s career experience includes co-owning construction company Taylor Commercial and founding and owning a CrossFit gym.

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.