Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Lam Research Corporation shares valued at $15,322,590 were sold by Bettinger Douglas R on Aug 30. At $439.11 per share, Bettinger Douglas R sold 34,895 shares. The insider’s holdings dropped to 97,821 shares worth approximately $39.0 million following the completion of this transaction.
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Also, Meikle Scott Gerald sold 700 shares, netting a total of over 366,254 in proceeds. Following the sale of shares at $523.22 each, the insider now holds 20,425 shares.
Before that, Lego Catherine P had added 1,736 shares to its account. In a trade valued at $799,168, the Director bought Lam Research Corporation shares for $460.35 each. Upon closing the transaction, the insider’s holdings increased to 1,736 shares, worth approximately $19.93 million.
As published in a research note from Barclays on July 25, 2022, Lam Research Corporation [LRCX] has been rated down from an Overweight to an Equal weight and the price target has been revised to $450 from $625. This represents a 11.41% premium over Wednesday’s closing price. Analysts at B. Riley Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid June. As of January 27, 2022, UBS has reiterated its “Buy” rating for LRCX. Earlier on January 27, 2022, Susquehanna resumed its rating. Their recommendation was “a Neutral” for LRCX stock.
Analyzing LRCX’s Price Performance
On Wednesday, Lam Research Corporation [NASDAQ: LRCX] plunged -1.18% to $398.65. The stock’s lowest price that day was $398.44, but it reached a high of $418.375 in the same session. During the last five days, there has been a drop of approximately -5.48%. Over the course of the year, Lam Research Corporation shares have dropped approximately -44.57%. Shares of the company reached a 52-week high of $731.85 on 01/04/22 and a 52-week low of $375.87 on 07/05/22. A 50-day SMA is recorded $460.88, while a 200-day SMA reached $523.49. Nevertheless, trading volume fell to 1.05 million shares from 0.89 million shares the previous day.
Support And Resistance Levels for Lam Research Corporation (LRCX)
According to the 24-hour chart, there is a support level at 391.93, which, if violated, would cause prices to drop to 385.22. In the upper region, resistance lies at 411.87. The next price resistance is at 425.09. RSI (Relative Strength Index) is 31.35 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -20.13, which suggests the price will decrease in the coming days. Percent R is at 99.62%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Lam Research Corporation subject to short interest?
Stocks of Lam Research Corporation saw a sharp steep in short interest on Jul 14, 2022 dropping by -1.16 million shares to 1.7 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.86 million shares. A decline of -68.24% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.25 of the overall float, the days-to-cover ratio (short ratio) decline to 1.25.
Which companies own the most shares of Lam Research Corporation (LRCX)?
According to The Vanguard Group, Inc. filings, the company currently owns 11,071,440 shares, which is about 8.08% of the total LRCX shares outstanding. The investor’s shares have appreciated by 68,223 from its previous 13-F filing of 11003217.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $3,113,831,748. SSgA Funds Management, Inc. reduced a -3.53% interest valued at $2.47 billion while Columbia Management Investment Ad sold a -62,313 stake. A total of -760,570 shares of Lam Research Corporation were sold by Fidelity Management & Research Co during the quarter, and -95,390 were sold by Janus Henderson Investors US LLC. In its current portfolio, Geode Capital Management LLC holds 2,558,916 shares valued at $1.12 billion.
In terms of Lam Research Corporation share price expectations, FactSet research, analysts set an average price target of $555.29 in the next 12 months, up nearly 35.1% from the previous closing price of $403.40. Analysts anticipate Lam Research Corporation stock to reach $700.00 by 2022, with the lowest price target being $450.00. In spite of this, 26 analysts ranked Lam Research Corporation stock as an Overweight at the end of 2022. On January 27, 2022, Stifel assigned a price target of “a Buy” to the stock and reiterated coverage with a $775.