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

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

Lam Research stock traded down $2.39 during midday trading on Friday, reaching $74.65. 11,951,038 shares of the company traded hands, compared to its average volume of 10,626,868. The firm has a market capitalization of $96.05 billion, a price-to-earnings ratio of 24.13, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45. The business has a 50 day moving average of $74.72 and a two-hundred day moving average of $81.96. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. 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 (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $4.17 billion for 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 firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.85 earnings per share. As a group, research analysts predict that Lam Research Co. will post 3.5 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.23%. Lam Research’s dividend payout ratio (DPR) is 29.77%.

Institutional Investors Weigh In On Lam Research

Several hedge funds have recently modified their holdings of the business. Jennison Associates LLC lifted its position in Lam Research by 20.0% during the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after acquiring an additional 39,725 shares during the last quarter. Creative Planning lifted its position in Lam Research by 2.5% during the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after acquiring an additional 1,146 shares during the last quarter. Vest Financial LLC lifted its position in Lam Research by 68.7% during the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock valued at $29,372,000 after acquiring an additional 14,658 shares during the last quarter. Worldquant Millennium Advisors LLC lifted its position in Lam Research by 51.9% during the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock valued at $175,800,000 after acquiring an additional 73,648 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in Lam Research by 9.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock valued at $278,165,000 after acquiring an additional 28,089 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on LRCX shares. Sanford C. Bernstein cut their price target on Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a report on Friday, November 29th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Mizuho decreased their target price on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday. The Goldman Sachs Group dropped their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday. Finally, Stifel Nicolaus restated a “buy” rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $96.65.

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.

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.