Harvest Fund Management Co. Ltd Decreases Holdings in Lam Research Co. (NASDAQ:LRCX)

Harvest Fund Management Co. Ltd reduced its stake in Lam Research Co. (NASDAQ:LRCX) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,162 shares of the semiconductor company’s stock after selling 41 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Lam Research were worth $2,453,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of LRCX. Orion Capital Management LLC purchased a new position in Lam Research in the 3rd quarter worth approximately $25,000. BluePath Capital Management LLC purchased a new position in Lam Research in the 3rd quarter worth approximately $28,000. OFI Invest Asset Management purchased a new position in Lam Research in the 3rd quarter worth approximately $30,000. Asset Dedication LLC increased its stake in Lam Research by 56.7% in the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 17 shares during the period. Finally, Valued Wealth Advisors LLC purchased a new position in Lam Research in the 4th quarter worth approximately $30,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the sale, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the transaction, the chief accounting officer now owns 5,541 shares in the company, valued at $5,386,018.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the transaction, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,029 shares of company stock valued at $6,559,489. 0.32% of the stock is currently owned by corporate insiders.

Lam Research Stock Up 2.2 %

Shares of NASDAQ LRCX traded up $19.35 during mid-day trading on Tuesday, hitting $887.42. 981,354 shares of the stock traded hands, compared to its average volume of 1,057,222. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. Lam Research Co. has a 52 week low of $493.42 and a 52 week high of $1,007.39. The company has a market cap of $116.34 billion, a price-to-earnings ratio of 34.32, a PEG ratio of 3.15 and a beta of 1.51. The stock has a fifty day moving average price of $944.54 and a 200-day moving average price of $805.82.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, topping the consensus estimate of $7.06 by $0.46. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The business had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the previous year, the company posted $10.71 earnings per share. The company’s revenue for the quarter was down 28.8% compared to the same quarter last year. Research analysts anticipate that Lam Research Co. will post 28.92 EPS for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.90%. The ex-dividend date was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is 30.94%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Stifel Nicolaus lifted their price target on Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. The Goldman Sachs Group lifted their price objective on Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. B. Riley upgraded Lam Research from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $870.00 to $1,100.00 in a research report on Friday. Mizuho lifted their price objective on Lam Research from $900.00 to $935.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Finally, Evercore ISI began coverage on Lam Research in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average price target of $931.85.

About Lam Research

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.