BlackRock Fund Advisors has recently announced that it has increased stake in Lam Research Corp. (NASDAQ:LRCX) by 0.30%. After grabbing 7.16 million shares, the institutional investor is now in possession of 21213.0 shares of the Technology Company. The new investment brought the stake of investor firm to 5.44% having worth around $5.61 billion. Moreover, Geode Capital Management LLC increased its share by 46760.0 to have a control over 2.93 million shares. And JPMorgan Investment Management, I raised its holdings to 0.42 million shares by acquiring 2.9 million shares or 2.20% of the stake.
Lam Research Corp. (LRCX) concluded trading on Thursday at a closing price of $865.60, with 3.1 million shares of worth about $2.68 billion changed hands on the day. Half year performance of the stock remained positive as price took a surge of 34.75% during that period and on Thursday, January 25 the price saw a gain of about 2.06%. Currently the company’s common shares owned by public are about 133.30M shares, out of which, 131.11M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 88 times over the past 12 months. They bought 87,015 shares in 34 of the transactions. In 54 selling transactions, insiders dumped 63,827 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Invesco QQQ Trust are the top 3 mutual funds which are holding stakes in Lam Research Corp. Vanguard Total Stock Market ETF is currently holding 4.14 million shares of worth totaling $3.24 billion. The company recently came selling 15143.0 shares which brought its stake up to 3.14% of the company’s outstanding shares. Vanguard 500 Index Fund sold 31015.0 shares, after which its hold over company’s outstanding shares shrunk to 2.44%, leaving 3.22 million shares with the mutual fund that have a worth of about $2.52 billion. Invesco QQQ Trust, after selling 2.42 million shares, have now control over 1.84% of the stake in the company. It holds 6235.0 shares of worth $1.9 billion.
However, the stock later moved at a day high price of 900.09, or with a gain of 2.06%. Stock saw a price change of 10.18% in past 5 days and over the past one month there was a price change of 10.98%. Year-to-date (YTD), LRCX shares are showing a performance of 10.51% which increased to 77.56% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $467.00 but also hit the highest price of $858.64 during that period. The average intraday trading volume for Lam Research Corp. shares is 973.58K. The stock is currently trading 11.47% above its 20-day simple moving average (SMA20), while that difference is up 16.20% for SMA50 and it goes to 33.56% higher than SMA200.
BlackRock Fund Advisors acquired 7.16 million shares of Lam Research Corp. having value of about $5.61 billion. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 21213.0 shares in the company valued at close to $18361972.8, or have control over 0.30% stake in the company. Lam Research Corp. (NASDAQ: LRCX) currently have 133.30M outstanding shares and institutions hold larger chunk of about 85.96% of that. Holding of mutual funds in the company is about 36.01% while other institutional holders and individual stake holders have control over 50.70% and 1.06% of the stake respectively.
The stock has a current market capitalization of $114.08B and its 3Y-monthly beta is at 1.51. PE ratio of stock for trailing 12 months is 33.46, while it has posted earnings per share of $25.87 in the same period. Its PEG reads 4.38 and has Quick Ratio of 2.02 while making debt-to-equity ratio of 0.61. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for LRCX, volatility over the week remained 2.87% while standing at 2.30% over the month.
Analysts are in expectations that Lam Research Corp. (LRCX) stock would likely to be making an EPS of $6.64 in the current quarter, while forecast for next quarter EPS is $6.96 and it is $35.16 for next year. For the current quarter EPS, analysts have given the company a lowest target $6 which is $7.19 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $6.99 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -15.05% while it is estimated to increase by 22.55% in next year. EPS is likely to shrink at an annualized rate of 7.64% for next 5-years, compared to annual growth of 20.32% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by TD Cowen on Jan-26-24 offering an Outperform rating for the stock and assigned a target price range of between $710 and $975 to it.
