Lam Research Corporation (NASDAQ:LRCX) does about 1.54M shares in volume on a normal day but saw 1652702 shares change hands in Monday trading. The company now has a market cap of 64.30B USD. Its current market price is $490.78, marking an increase of 3.87% compared to the previous close of $472.50. The 52 week high reached by this stock is $636.73 whilst the lowest price level in 52 weeks is $299.59. The script in recent trading has seen the stock touch a high of $498.84 and a low of $472.39.
Lam Research Corporation (LRCX) has a 20-day trading average at $442.18 and the current price is -22.92% off the 52-week high compared with 63.82% distance from its 52-week low. The 50-day simple moving average of the closing price is $451.47 and its 200-day simple moving average is $445.84. If we look at the stock’s price movements over the week, volatility stands at 3.47%, which increases to 3.72% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 65.19 to suggest the stock is neutral.
The consensus objective for the share price is $459.32, suggesting that the stock has a potential downside of -6.85% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on January 18, 2023 when Stifel resumed the stock to “Hold” and issued a price target of $495. Deutsche Bank upgraded the stock to “Buy” from Hold on December 12, 2022 at a price target of $400-$520.
The current price level is 11.53%, 8.93%, and 10.06% away from its SMA20, SMA50, and SMA200 respectively, with the LRCX price moving above the 50-day SMA on January 23. Lam Research Corporation (LRCX) stock is up 3.61% over the week and 12.21% over the past month. Its price is 16.77% year-to-date and -20.80% over the past year.
The stock last released its quarterly earnings report for quarter ended 9/29/2022, with the company’s earnings per share (EPS) of $10.42 above consensus estimates by $0.89. LRCX’s earnings per share are forecast to grow by 4.20% this year and -17.20% over next year. Expected sales for next quarter are $4.4 billion, which analysts say will come at $18.14 billion for the current fiscal year and next year at $15.5 billion. In addition, estimates put the company’s current quarterly revenue at an average of $5.11 billion.
To reach the target analysts have set, the stock logically needs to shrink -6.85 percent from here.
Outstanding shares total 136.89M with insiders holding 0.26% of the shares and institutional holders owning 84.50% of the company’s common stock. The company has a return on investment of 42.50% and return on equity of 74.10%. The price to earnings ratio (P/E ratio) amounts to 14.07 while the forward price to earnings ratio is 17.62. The beta has a value of 1.45. Price to book ratio is 9.06 and price to sales ratio is 3.57.
According to a U.S. Securities and Exchange Commission filing, Vanguard Total Stock Market Index has added its position in Lam Research Corporation (LRCX) to 4,147,939 shares, mirroring a recent increase by 0.44%. Vanguard Total Stock Market Index added 18372.0 shares of Lam Research Corporation common stock bringing its total worth to about $1.74 billion at the end of recent close, SEC documents show. Vanguard Total Stock Market Index isn’t the only investment manager who changed stakes and is followed by Vanguard 500 Index Fund, which added 13975.0 shares to end up with 3,152,384 shares worth $1.32 billion. Invesco QQQ Trust cut their holdings by -0.06% in the company over the course of the most recent quarter. It now holds a 1.33% position in Lam Research Corporation thanks to 1.82 million shares amounting to $762.98 million.