In a filing, Lam Research Corporation revealed 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 $ 61.48 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 $3.88 million.
Wolfe Research initiated its Lam Research Corporation [LRCX] rating to an Outperform in a research note published on Monday, September 15, 2023; the price target was $825. PT values the company’s stock at a premium of 22.95 to its Monday closing price.
Price Performance Review of LRCX
On Monday, Lam Research Corporation [NASDAQ:LRCX] saw its stock jump 2.01% to $635.65. On the same session, the stock had its day’s lowest price of $618.21, but rose to a high of $636.49. Over the last five days, the stock has lost -4.22%. Lam Research Corporation shares have risen nearly 51.24% since the year began. Nevertheless, the stocks have risen 53.75% 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 $666.05, while 200 days put it at $554.62. A total of 1.26 million shares were traded, compared to the trading of 3.16 million shares in the previous session.
Levels Of Support And Resistance For LRCX Stock
The 24-hour chart illustrates a support level at 623.74, which if violated will result in even more drops to 611.84. On the upside, there is a resistance level at 642.02. A further resistance level may holdings at 648.40. The Relative Strength Index (RSI) on the 14-day chart is 39.65, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -33.63, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 81.01%. Stochastics %K at 13.28% indicates the stock is a buying.
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 30, 2023, dropping by -0.34 million shares to a total of 2.79 million shares. Yahoo Finance data shows the prior-month short interest on Jul 30, 2023 was 3.13 million shares. There was a decline of -12.19%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.11% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.86.
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 8.43% 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 $5,017,630,925, while SSgA Funds Management, Inc. reduced -0.30% of its stake to hold $3.99 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 $2.33 billion. Geode Capital Management LLC owned 2,883,265 shares of the company at the time of its most recent 13F filing, worth $2.03 billion.
According to FactSet, Lam Research Corporation’s share price will average $702.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 15.55 percent from its previous closing price of $623.11. Analysts expect Lam Research Corporation stock to reach the higher price of $825.00, while the lowest price estimate is $545.00. However, 28 analysts have rated LRCX stock as an Overweight in their predictions for 2023.