Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Lam Research Corp. shares valued at $857,330 were sold by TALWALKAR ABHIJIT Y on Apr 01 ’24. At $972.03 per share, TALWALKAR ABHIJIT Y sold 882 shares. The insider’s holdings dropped to 10,541 shares worth approximately $9.33 million following the completion of this transaction.
Also, Corrreia Christina sold 647 shares, netting a total of over 628,903 in proceeds. Following the sale of shares at $972.03 each, the insider now holds 5,541 shares.
Before that, Varadarajan Seshasayee had sold 5,500 shares from its account. In a trade valued at $5,026,945, the Senior Vice President traded Lam Research Corp. shares for $913.99 each. Upon closing the transaction, the insider’s holdings decreased to 5,500 shares, worth approximately $14.68 million.
As published in a research note from B. Riley Securities on April 19, 2024, Lam Research Corp. [LRCX] has been rated up from a Neutral to a Buy and the price target has been revised to $1100 from $870. Analysts at Needham resumed the stock at ‘”a Buy”‘ outlook in a report released in mid April. As of April 16, 2024, Evercore ISI has initiated its “an Outperform” rating for LRCX.
Analyzing LRCX Stock Performance
During the last five days, there has been a drop of approximately -3.00%. Over the course of the year, Lam Research Corp. shares have jumped approximately 12.98%. Shares of the company reached a 52-week high of $1,007.39 on 03/07/24 and a 52-week low of $723.25 on 01/04/24. A 50-day SMA is recorded $942.14, while a 200-day SMA reached $758.76. Nevertheless, trading volume fell to 1.94 million shares from 0.98 million shares the previous day.
Support And Resistance Levels for Lam Research Corp. (LRCX)
According to the 24-hour chart, there is a support level at 872.82, which, if violated, would cause prices to drop to 860.75. In the upper region, resistance lies at 906.41. The next price resistance is at 927.93. RSI (Relative Strength Index) is 38.91 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -50.77, which suggests the price will decrease in the coming days. Percent R is at 78.85%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
