The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Lam Research Corp. shares valued at $55,292 were sold by LORD PATRICK J on Apr 29 ’24. At $921.54 per share, LORD PATRICK J sold 60 shares. The insider’s holdings dropped to 4,454 shares worth approximately $3.87 million following the completion of this transaction.
Also, TALWALKAR ABHIJIT Y sold 882 shares, netting a total of over 857,330 in proceeds. Following the sale of shares at $972.03 each, the insider now holds 10,541 shares.
Before that, Corrreia Christina had sold 647 shares from its account. In a trade valued at $628,903, the CVP , Chief Accounting Officer traded Lam Research Corp. shares for $972.03 each. Upon closing the transaction, the insider’s holdings decreased to 647 shares, worth approximately $4.81 million.
As published in a research note from TD Cowen on April 25, 2024, Lam Research Corp. [LRCX] has been retained to a Buy and the price target has been revised to $1000. Analysts at B. Riley Securities upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid April. As of April 18, 2024, Needham has reiterated its “Buy” rating for LRCX. Earlier on April 16, 2024, Evercore ISI initiated its rating. Their recommendation was “an Outperform” for LRCX stock.
Analyzing LRCX Stock Performance
During the last five days, there has been a drop of approximately -1.90%. Over the course of the year, Lam Research Corp. shares have jumped approximately 10.83%. 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 $941.53, while a 200-day SMA reached $765.46. Nevertheless, trading volume fell to 1.18 million shares from 0.97 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 854.73, which, if violated, would cause prices to drop to 841.37. In the upper region, resistance lies at 890.68. The next price resistance is at 913.26. RSI (Relative Strength Index) is 38.24 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -9.78, which suggests the price will decrease in the coming days. Percent R is at 91.79%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
