Sen. Sheldon Whitehouse Sells Lam Research Co. (NASDAQ:LRCX) Shares

Senator Sheldon Whitehouse (D-Rhode Island) recently sold shares of Lam Research Co. (NASDAQ:LRCX). In a filing disclosed on January 08th, the Senator disclosed that they had sold between $15,001 and $50,000 in Lam Research stock on December 19th.

Senator Sheldon Whitehouse also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of NVIDIA (NASDAQ:NVDA) on 1/6/2025.
• Sold $15,001 – $50,000 in shares of Apple (NASDAQ:AAPL) on 12/19/2024.
• Sold $1,001 – $15,000 in shares of MetLife (NYSE:MET) on 11/19/2024.
• Sold $1,001 – $15,000 in shares of Kenvue (NYSE:KVUE) on 11/18/2024.
• Purchased $15,001 – $50,000 in shares of Eli Lilly and Company (NYSE:LLY) on 10/30/2024.
• Sold $1,001 – $15,000 in shares of Starbucks (NASDAQ:SBUX) on 10/29/2024.
• Sold $1,001 – $15,000 in shares of Walt Disney (NYSE:DIS) on 10/29/2024.
• Sold $1,001 – $15,000 in shares of Honeywell International (NASDAQ:HON) on 10/29/2024.
• Sold $1,001 – $15,000 in shares of Mastercard (NYSE:MA) on 10/29/2024.
• Sold $1,001 – $15,000 in shares of Verizon Communications (NYSE:VZ) on 10/29/2024.

Lam Research Stock Performance

NASDAQ:LRCX opened at $77.04 on Thursday. The company has a market cap of $99.13 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The company has a fifty day simple moving average of $74.67 and a two-hundred day simple moving average of $82.05.

Lam Research (NASDAQ:LRCX) last issued its quarterly 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. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the prior year, the business earned $6.85 EPS. Lam Research’s revenue was up 19.7% on a year-over-year basis. As a group, equities analysts anticipate that Lam Research Co. will post 3.5 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were given a $0.23 dividend. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.19%. Lam Research’s dividend payout ratio is presently 29.77%.

Institutional Investors Weigh In On Lam Research

Institutional investors have recently added to or reduced their stakes in the business. Cornercap Investment Counsel Inc. lifted its holdings in shares of Lam Research by 2.3% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 624 shares of the semiconductor company’s stock valued at $664,000 after buying an additional 14 shares during the period. HBK Sorce Advisory LLC boosted its position in shares of Lam Research by 2.4% during the 2nd quarter. HBK Sorce Advisory LLC now owns 682 shares of the semiconductor company’s stock worth $726,000 after purchasing an additional 16 shares in the last quarter. Gabelli Funds LLC grew its stake in shares of Lam Research by 5.6% during the 2nd quarter. Gabelli Funds LLC now owns 300 shares of the semiconductor company’s stock worth $319,000 after purchasing an additional 16 shares during the period. Benjamin Edwards Inc. increased its holdings in shares of Lam Research by 5.6% in the 2nd quarter. Benjamin Edwards Inc. now owns 320 shares of the semiconductor company’s stock valued at $341,000 after purchasing an additional 17 shares in the last quarter. Finally, Insigneo Advisory Services LLC lifted its stake in shares of Lam Research by 2.6% in the second quarter. Insigneo Advisory Services LLC now owns 907 shares of the semiconductor company’s stock valued at $966,000 after purchasing an additional 23 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on LRCX shares. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Sanford C. Bernstein decreased their price objective on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a research report on Friday, November 29th. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 target price (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Morgan Stanley upped their price objective on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Finally, B. Riley cut their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.24.

About Senator Whitehouse

Sheldon Whitehouse (Democratic Party) is a member of the U.S. Senate from Rhode Island. He assumed office on January 3, 2007. His current term ends on January 3, 2025. Whitehouse (Democratic Party) is running for re-election to the U.S. Senate to represent Rhode Island. He declared candidacy for the 2024 election. Whitehouse previously served as the Rhode Island attorney general from 1999 to 2003. Before that, he was a United States attorney from 1994 to 1998. He was nominated to the position by President Bill Clinton (D). Whitehouse was a superdelegate to the 2016 Democratic National Convention from Rhode Island. He cast his vote for Hillary Clinton. As of a 2014 analysis of multiple outside rankings, Whitehouse is an average Democratic member of Congress, meaning he will vote with the Democratic Party on the majority of bills.

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.