Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Lam Research Corp. shares valued at $528,929 were sold by Correia Christina on Oct 01 ’24. At $817.51 per share, Correia Christina sold 647 shares. The insider’s holdings dropped to 4,267 shares worth approximately $0.35 million following the completion of this transaction.
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Also, Correia Christina purchased 647 shares, netting a total of over 528,929 in proceeds.
Before that, Fernandes Neil J had sold 1,620 shares from its account. In a trade valued at $1,712,324, the Senior Vice President traded Lam Research Corp. shares for $1056.99 each. Upon closing the transaction, the insider’s holdings decreased to 1,620 shares, worth approximately $0.42 million.
As published in a research note from TD Cowen on August 01, 2024, Lam Research Corp. [LRCX] has been retained to a Buy and the price target has been revised to $1050. Analysts at Jefferies started covering the stock with ‘”a Buy”‘ outlook in a report released in mid May. As of April 25, 2024, TD Cowen has reiterated its “Buy” rating for LRCX. Earlier on April 19, 2024, B. Riley Securities upgraded its rating. Their new recommendation was “a Buy” for LRCX stock which previously was a “a Neutral”.
Analyzing LRCX Stock Performance
During the last five days, there has been a drop of approximately -4.29%. Over the course of the year, Lam Research Corp. shares have jumped approximately 3.55%. Shares of the company reached a 52-week high of $113.00 on 07/11/24 and a 52-week low of $71.66 on 09/10/24. A 50-day SMA is recorded $80.93, while a 200-day SMA reached $89.59. Nevertheless, trading volume fell to 6.35 million shares from 1.43 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 79.95, which, if violated, would cause prices to drop to 78.80. In the upper region, resistance lies at 82.19. The next price resistance is at 83.28. RSI (Relative Strength Index) is 51.89 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.22, which suggests the price will increase in the coming days. Percent R is at 44.07%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
