Stock Markets
Lam Research senior VP sells shares worth over $4.6 million
Fremont, CA – In a recent transaction, Neil J. Fernandes, Senior Vice President of Lam Research Corp (NASDAQ:), sold 4,409 shares of the company’s common stock at a price of $1055.76 per share, resulting in a total value of $4,654,845. The transaction was reported on June 27, 2024, and was executed under a pre-arranged 10b5-1 trading plan, which allows company insiders to set up a trading schedule in advance to avoid any accusations of insider trading.
Following the sale, Fernandes still holds a direct ownership of 6,857 shares in the company. Additionally, he possesses an indirect ownership of 101.544 shares through a 401(k) retirement plan. The transaction indicates a significant movement in the ownership of the company’s stock by one of its top executives.
Lam Research, headquartered in Fremont, CA, is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. The company’s stock is publicly traded on the NASDAQ under the trading symbol LRCX.
Investors typically monitor such sales by company insiders as they can provide insights into an executive’s perspective on the company’s current valuation and future prospects. However, it’s worth noting that sales made under 10b5-1 plans are planned trades, and as such, they may not always reflect the insider’s discretionary trading behavior.
The sale by Fernandes was made public through a Form 4 filing with the Securities and Exchange Commission. This form is used by insiders to report trades in their company’s shares to the SEC. The information provided offers transparency into the trading activities of senior executives and other insiders of publicly traded companies.
In other recent news, Lam Research has been the subject of multiple analyst reports following substantial developments within the company. The semiconductor equipment supplier recently announced a $10 billion share repurchase program and a 10-for-1 stock split. Wells Fargo maintained an Equal Weight rating on Lam Research, keeping its price target at $980.00. Citi, on the other hand, reaffirmed a Buy rating with a price target of $1,025.00. Deutsche Bank held its rating at Hold with a target of $1,000.00.
Simultaneously, the U.S. is extending its efforts to limit China’s access to chipmaking technology. This includes discussions with the Netherlands and Japan, targeting companies such as Nvidia Corp (NASDAQ:), Lam Research, Nikon (OTC:) Corp, Tokyo Electron, and ASML (AS:). The U.S. is working to add 11 more Chinese chipmaking factories to a restricted list, which already includes China’s largest chipmaker, SMIC.
These are recent developments that investors should be aware of. The actions taken by Lam Research align with its strategy to return 75%-100% of free cash flow to shareholders, reflecting confidence in ongoing demand and free cash flow generation. The U.S. efforts to control chipmaking technology underscore the geopolitical implications of the semiconductor industry.
InvestingPro Insights
In light of the recent insider sale at Lam Research Corp (NASDAQ:LRCX), investors seeking to understand the company’s financial health and market position can benefit from the insights provided by InvestingPro. The company’s commitment to rewarding shareholders is evident, as it has raised its dividend for 10 consecutive years, a testament to its financial stability and confidence in future cash flows.
InvestingPro Tips indicate that 20 analysts have revised their earnings upwards for the upcoming period, suggesting potential optimism about the company’s earnings trajectory. Additionally, Lam Research is recognized as a prominent player in the Semiconductors & Semiconductor Equipment industry, which may provide it with a competitive edge in a rapidly evolving market.
From the InvestingPro Data, we can observe that Lam Research has a market capitalization of $138.32 billion, reflecting its significant presence in the sector. Despite a high earnings multiple with a P/E ratio of 38.65, the company’s strong return over the last year, with a 1 Year Price Total Return of 67.27%, may justify the valuation to some investors.
Furthermore, Lam Research’s solid financial performance is highlighted by its gross profit margin of 47.19% over the last twelve months as of Q3 2024, indicating efficient operations and robust profitability.
For investors intrigued by these insights and seeking more in-depth analysis, InvestingPro offers additional tips on Lam Research. By using the coupon code PRONEWS24, readers can get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, unlocking valuable investment information to guide their decisions. There are 21 additional InvestingPro Tips available for Lam Research, which can be accessed for further detailed analysis and investment strategy.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
By Maggie Fick and Ahmed Aboulenein
WASHINGTON (Reuters) – Members of Donald Trump’s presidential transition team are laying the groundwork for the United States to withdraw from the World Health Organization on the first day of his second term, according to a health law expert familiar with the discussions.
“I have it on good authority that he plans to withdraw, probably on Day One or very early in his administration,” said Lawrence Gostin, professor of global health at Georgetown University in Washington and director of the WHO Collaborating Center on National and Global Health (NS:) Law.
The Financial Times was first to report on the plans, citing two experts. The second expert, former White House COVID-19 response coordinator Ashish Jha, was not immediately available for comment.
The Trump transition team did not immediately respond to a Reuters request for comment.
The plan, which aligns with Trump’s longstanding criticism of the U.N. health agency, would mark a dramatic shift in U.S. global health policy and further isolate Washington from international efforts to battle pandemics.
Trump has nominated several critics of the organization to top public health positions, including Robert F. Kennedy Jr., a vaccine skeptic who is up for the post of secretary of Health and Human Services, which oversees all major U.S. health agencies including the CDC and FDA.
Trump initiated the year-long withdrawal process from the WHO in 2020 but six months later his successor, President Joe Biden, reversed the decision.
Trump has argued that the agency failed to hold China accountable for the early spread of COVID-19. He has repeatedly called the WHO a puppet of Beijing and vowed to redirect U.S. contributions to domestic health initiatives.
A WHO spokesperson declined to directly comment but referred Reuters to comments by WHO Director-General Tedros Adhanom Ghebreyesus at a press briefing on Dec. 10 in which he was asked whether he was concerned that the Trump administration would withdraw from the organization.
Tedros said at the time that the WHO needed to give the U.S. time and space for the transition. He also voiced confidence that states could finalize a pandemic agreement by May 2025.
Critics warn that a U.S. withdrawal could undermine global disease surveillance and emergency response systems.
“The U.S. would lose influence and clout in global health and China would fill the vacuum. I can’t imagine a world without a robust WHO. But U.S. withdrawal would severely weaken the agency,” Gostin said.
U.Today – MicroStrategy has made headlines again by purchasing 5,262 BTC for approximately $561 million at an average price of $106,662 per BTC. The company now holds a staggering 444,262 BTC, accumulated at a total cost of approximately $27.7 billion, with an average purchase price of $62,257 per BTC.
Despite impressive returns of 47.4% since the beginning of the quarter and 73.7% since the beginning of the year, skepticism about the company’s strategy is growing.
It is believed that to sustain its purchases, MicroStrategy raises capital through methods such as issuing convertible and corporate bonds, securing credit lines and selling shares.
This cycle appears to operate as follows: shares are sold to acquire the cryptocurrency, and the rising price per BTC increases asset value, enabling further loans, which are then reinvested in more purchases.
Some observers warn that a significant decline in Bitcoin’s price or MicroStrategy’s stock could trigger a cascade effect. A sharp fall in MSTR shares would weaken the collateral backing its loans, potentially leading to forced asset sales, including BTC.
This scenario could exert downward pressure on the broader cryptocurrency market, as the company holds 2.2% of the global Bitcoin supply now.
Thus, while some view Michael Saylor’s approach as a bold bid to cement the cryptocurrency’s role in the financial system, others see it as unsustainable. History offers a cautionary note: in 2000, MSTR shares surged to $333 before plummeting 99%, a collapse that took 24 years to recover from.
National homebuilder ranked No. 12 on inaugural list ranking companies based on trust
SCOTTSDALE, Ariz., Dec. 23, 2024 /PRNewswire/ — With a longstanding reputation for trust, national homebuilder and land developer Taylor Morrison (NYSE:) (NYSE: ™HC) has been recognized by Forbes on their inaugural list of the Most Trusted Companies in America. The homebuilder ranked No. 12 out of 300 companies across all industries.
“There are few things more powerful than trust and it’s something we strive to earn amongst all company stakeholders, from our customers to our team members, our shareholders, and our local communities,” said Taylor Morrison Chairman and CEO Sheryl Palmer. “To be included on this esteemed list in its inaugural year is especially meaningful and these awards are important reminders of the relationships we’re building across all aspects of our business.”
Fueled by hundreds of millions of data points, the Most Trusted Companies in America list combines data on a wide range of factors across four categories: employee trust, customer trust, investor trust and media sentiment. The ranking was created in partnership with research companies HundredX, Signal AI and Glassdoor.
Taylor Morrison also earned the No. 67 spot on Forbes’ inaugural America’s Best Companies list. The ranking is Forbes’ most comprehensive company ranking to date and factored in ratings for financial performance, customer and employee satisfaction, cybersecurity, sustainability, companies’ remote work policies, media coverage and more. Forbes’ America’s Best Companies list assessed more than 60 metrics across 11 primary categories to identify which organizations excel across the board. Of the more than 2,000 U.S.-based publicly traded companies that were eligible, only 300 qualified for each list.
In addition to being named among the Most Trusted and Best Companies in America by Forbes, Taylor Morrison holds several additional accolades including being named on Newsweek’s America’s Most Responsible Companies and America’s Greenest Companies lists, U.S. News & World Report’s Best Companies to Work For list, the American Opportunity (SO:) Index, America’s Most Trusted ® Home Builder for nine years, Hearthstone’s 2021 BUILDER Humanitarian Award, and inclusion on the Fortune 500 list since 2021.
About Taylor Morrison
Headquartered in Scottsdale, Arizona, Taylor Morrison is one of the nation’s leading homebuilders and developers. We serve a wide array of consumers from coast to coast, including first-time, move-up, luxury and resort lifestyle homebuyers and renters under our family of brands”including Taylor Morrison, Esplanade and Yardly. From 2016-2024, Taylor Morrison has been recognized as America’s Most Trusted ® Builder by Lifestory Research. Our long-standing commitment to sustainable operations is highlighted in our annual Sustainability and Belonging Report.
For more information about Taylor Morrison, please visit www.taylormorrison.com.
CONTACT:
media@taylormorrison.com
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