Sen. Sheldon Whitehouse Sells Off 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 Price Performance

NASDAQ:LRCX opened at $77.04 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The stock has a market cap of $99.13 billion, a P/E ratio of 24.90, a PEG ratio of 1.22 and a beta of 1.45. The company has a fifty day moving average price of $74.72 and a 200 day moving average price of $82.01. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The firm had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.85 EPS. Analysts anticipate 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. Stockholders of record on Wednesday, December 11th were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.19%. Lam Research’s payout ratio is 29.77%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. 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. Morgan Stanley upped their price objective on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Finally, Wells Fargo & Company dropped their price objective on Lam Research from $85.00 to $83.00 and set an “equal weight” rating for the company in a research note on Friday, December 6th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.24.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LRCX. Quarry LP increased its holdings in Lam Research by 175.0% in the second quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock valued at $94,000 after purchasing an additional 56 shares during the last quarter. Lantz Financial LLC acquired a new stake in shares of Lam Research in the 2nd quarter valued at approximately $212,000. NCP Inc. bought a new position in Lam Research during the 2nd quarter worth approximately $213,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Lam Research by 2,400.0% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after purchasing an additional 192 shares during the period. Finally, Excalibur Management Corp bought a new stake in Lam Research in the second quarter valued at approximately $225,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.