Lam Research Corp.’s filing revealed that its Senior Vice President Fernandes Neil J unloaded Company’s shares for reported $1.71 million on Jul 12 ’24. In the deal valued at $1056.99 per share,1,620 shares were sold. As a result of this transaction, Fernandes Neil J now holds 5,237 shares worth roughly $4.0 million.
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Then, Correia Christina sold 647 shares, generating $687,282 in total proceeds. Upon selling the shares at $1062.26, the CVP , Chief Accounting Officer now owns 4,914 shares.
Before that, ARCHER TIMOTHY sold 13,743 shares. Lam Research Corp. shares valued at $14,665,405 were divested by the President and CEO at a price of $1067.12 per share. As a result of the transaction, ARCHER TIMOTHY now holds 99,893 shares, worth roughly $76.22 million.
TD Cowen reiterated its Lam Research Corp. [LRCX] rating to a Buy in a research note published on August 01, 2024; the price target was $1050. A number of analysts have revised their coverage, including Jefferies’s analysts, who began to cover the stock in mid May with a ‘”a Buy”‘ rating. TD Cowen also remained covering LRCX and reiterated its “Buy” recommendation on April 25, 2024. B. Riley Securities revised its rating on April 19, 2024. It rated LRCX as “a Buy” which previously was an “a Neutral”.
Price Performance Review of LRCX
On Friday, Lam Research Corp. [NASDAQ:LRCX] saw its stock fall -8.11% to $763.00. Over the last five days, the stock has lost -14.71%. Lam Research Corp. shares have fallen nearly -2.59% since the year began. Nevertheless, the stocks have risen 11.24% over the past one year. While a 52-week high of $1130.00 was reached on 07/11/24, a 52-week low of $574.42 was recorded on 01/04/24. SMA at 50 days reached $994.87, while 200 days put it at $868.37. A total of 2.7 million shares were traded, compared to the trading of 2.89 million shares in the previous session.
Levels Of Support And Resistance For LRCX Stock
The 24-hour chart illustrates a support level at 745.52, which if violated will result in even more drops to 728.05. On the upside, there is a resistance level at 792.95. A further resistance level may holdings at 822.91. The Relative Strength Index (RSI) on the 14-day chart is 29.08, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -76.13, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 98.46%. Stochastics%K at 12.12% indicates the stock is a buying.
The most recent change occurred on April 18, 2024 when Needham resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $1030.
