Lam Research Corp.’s recently made public 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 $4.56 million.
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Then, ARCHER TIMOTHY sold 9,650 shares, generating $10,329,237 in total proceeds. Upon selling the shares at $1070.39, the President and CEO now owns 84,639 shares.
Before that, ARCHER TIMOTHY sold 5,604 shares. Lam Research Corp. shares valued at $6,044,106 were divested by the President and CEO at a price of $1078.53 per share. As a result of the transaction, ARCHER TIMOTHY now holds 94,289 shares, worth roughly $82.14 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 -2.13% to $871.14. Over the last five days, the stock has gained 7.83%. Lam Research Corp. shares have risen nearly 11.22% since the year began. Nevertheless, the stocks have risen 34.79% 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 08/05/24. SMA at 50 days reached $967.30, while 200 days put it at $878.97.
Levels Of Support And Resistance For LRCX Stock
The 24-hour chart illustrates a support level at 860.29, which if violated will result in even more drops to 849.44. On the upside, there is a resistance level at 881.70. A further resistance level may holdings at 892.26. The Relative Strength Index (RSI) on the 14-day chart is 48.11, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 45.76, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 26.18%. Stochastics%K at 71.21% indicates the stock is a holding.
How much short interest is there in Lam Research Corp.?
A steep rise in short interest was recorded in Lam Research Corp. stocks on 2024-07-31, dropping by -0.4 million shares to a total of 2.1 million shares. Yahoo Finance data shows the prior-month short interest on 2024-06-28 was 2.49 million shares. There was a decline of -18.91%, which implies that there is a negative sentiment for the stock.
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.
