Rep. Marjorie Taylor Greene Buys Lam Research Co. (NASDAQ:LRCX) Shares

Posted by Jared Coughlin on Nov 29th, 2024

Representative Marjorie Taylor Greene (R-Georgia) recently bought shares of Lam Research Co. (NASDAQ:LRCX). In a filing disclosed on November 27th, the Representative disclosed that they had bought between $1,001 and $15,000 in Lam Research stock on November 25th.

Representative Marjorie Taylor Greene also recently made the following trade(s):

Purchased $1,001 – $15,000 in shares of Charles Schwab (NYSE:SCHW) on 11/25/2024.
Purchased $1,001 – $15,000 in shares of GSK (NYSE:GSK) on 11/25/2024.
Purchased $1,001 – $15,000 in shares of Costco Wholesale (NASDAQ:COST) on 11/25/2024.
Purchased $1,001 – $15,000 in shares of Advanced Micro Devices (NASDAQ:AMD) on 11/25/2024.
Purchased $1,001 – $15,000 in shares of NextEra Energy (NYSE:NEE) on 11/25/2024.
Purchased $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 11/25/2024.
Purchased $1,001 – $15,000 in shares of Berkshire Hathaway (NYSE:BRK.B) on 11/25/2024.
Purchased $1,001 – $15,000 in shares of Nestlé (OTCMKTS:NSRGY) on 11/25/2024.
Purchased $1,001 – $15,000 in shares of United Parcel Service (NYSE:UPS) on 11/25/2024.
Purchased $1,001 – $15,000 in shares of Johnson & Johnson (NYSE:JNJ) on 11/25/2024.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $71.57 on Friday. The business’s 50 day moving average price is $76.62 and its two-hundred day moving average price is $86.79. The company has a market cap of $92.09 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 1.14 and a beta of 1.48. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Lam Research Co. has a twelve month low of $68.72 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX – Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business’s revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.85 earnings per share. On average, analysts predict that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

Institutional Investors Weigh In On Lam Research

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CarsonAllaria Wealth Management Ltd. bought a new stake in Lam Research during the second quarter worth $32,000. RFP Financial Group LLC lifted its stake in Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in Lam Research during the second quarter worth $40,000. Country Trust Bank bought a new stake in Lam Research during the second quarter worth $43,000. Finally, MFA Wealth Advisors LLC bought a new stake in Lam Research during the second quarter worth $45,000. 84.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. B. Riley lowered their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. UBS Group decreased their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Mizuho decreased their target price on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Finally, StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $97.29.

View Our Latest Report on Lam Research

Insider Activity

In other news, CAO Christina Correia sold 647 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. This represents a 13.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by corporate insiders.

About Representative Greene

Marjorie Taylor Greene (Republican Party) is a member of the U.S. House, representing Georgia’s 14th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2025. Greene (Republican Party) is running for re-election to the U.S. House to represent Georgia’s 14th Congressional District. She declared candidacy for the 2024 election. Marjorie Taylor Greene earned a bachelor’s degree in business administration from the University of Georgia. Greene’s career experience includes co-owning construction company Taylor Commercial and founding and owning a CrossFit gym.

Lam Research Company Profile

(Get Free Report)

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.