Lam Research Corporation’s recently made public that its Chief Financial Officer & EVP Bettinger Douglas R unloaded Company’s shares for reported $1.34 million on Aug 07. In the deal valued at $705.86 per share,1,894 shares were sold. As a result of this transaction, Bettinger Douglas R now holds 96,713 shares worth roughly $ 67.77 million.
Then, Vahedi Vahid sold 13,756 shares, generating $9,869,437 in total proceeds. Upon selling the shares at $717.46, the Senior Vice President now owns 26,483 shares.
Before that, Corrreia Christina sold 1,627 shares. Lam Research Corporation shares valued at $1,153,299 were divested by the CVP, Chief Accounting Officer at a price of $708.85 per share. As a result of the transaction, Corrreia Christina now holds 6,109 shares, worth roughly $4.28 million.
Stifel upgraded its Lam Research Corporation [LRCX] rating to a Buy from a a Hold in a research note published on Tuesday, July 24, 2023; the price target was increased to $725 from $505. PT values the company’s stock at a premium of 3.34 to its Tuesday closing price.
Price Performance Review of LRCX
On Tuesday, Lam Research Corporation [NASDAQ:LRCX] saw its stock fall -0.17% to $700.77. On the same session, the stock had its day’s lowest price of $695.195, but rose to a high of $707.47. Over the last five days, the stock has gained 5.17%. Lam Research Corporation shares have risen nearly 66.73% since the year began. Nevertheless, the stocks have risen 62.20% over the past one year. While a 52-week high of $726.53 was reached on 07/31/23, a 52-week low of $299.59 was recorded on 01/03/23. SMA at 50 days reached $661.67, while 200 days put it at $545.35. A total of 0.52 million shares were traded, compared to the trading of 0.65 million shares in the previous session.
Levels Of Support And Resistance For LRCX Stock
The 24-hour chart illustrates a support level at 694.82, which if violated will result in even more drops to 688.87. On the upside, there is a resistance level at 707.09. A further resistance level may holdings at 713.42. The Relative Strength Index (RSI) on the 14-day chart is 60.53, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 28.80, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 15.38%. Stochastics %K at 85.72% indicates the stock is a selling.
How much short interest is there in Lam Research Corporation?
A steep rise in short interest was recorded in Lam Research Corporation stocks on Aug 14, 2023, dropping by -0.28 million shares to a total of 2.8 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 3.08 million shares. There was a decline of -10.0%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.12% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.16.
Lam Research Corporation [LRCX] – Who Are The Largest Shareholders?
In filings from The Vanguard Group, Inc., it is revealed that the company now owns 11,170,744 shares, or roughly 8.32% of the outstanding LRCX shares. In other words, the investor’s shares have fallen by -23,586 from its previous 13-F filing of 11194330.0. Additionally, BlackRock Fund Advisors increased 0.94% of its stake after which the total value it holdings stand at $5,132,570,676, while SSgA Funds Management, Inc. reduced -0.30% of its stake to hold $4.08 billion in the firm. Over the last quarter, Columbia Management Investment Ad sold -274,054 shares of Lam Research Corporation, while T. Rowe Price Associates, Inc. sold -107,682 shares. At present, Fidelity Management & Research Co is holding 3,318,472 shares valued at $2.38 billion. Geode Capital Management LLC owned 2,883,265 shares of the company at the time of its most recent 13F filing, worth $2.07 billion.
According to FactSet, Lam Research Corporation’s share price will average $696.14 in the next year, based on opinions of analysts polled by the firm. This is up nearly 2.57 percent from its previous closing price of $701.96. Analysts expect Lam Research Corporation stock to reach the higher price of $800.00, while the lowest price estimate is $545.00. However, 27 analysts have rated LRCX stock as an Overweight in their predictions for 2023.