Central Asset Investments & Management Holdings HK Ltd Decreases Stock Position in Lam Research Co. (NASDAQ:LRCX)

Central Asset Investments & Management Holdings HK Ltd decreased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 52.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 271 shares of the semiconductor company’s stock after selling 300 shares during the period. Central Asset Investments & Management Holdings HK Ltd’s holdings in Lam Research were worth $289,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LRCX. DSM Capital Partners LLC purchased a new position in shares of Lam Research during the 4th quarter valued at approximately $28,000. CarsonAllaria Wealth Management Ltd. bought a new position in Lam Research during the 2nd quarter valued at $32,000. RFP Financial Group LLC grew its holdings in Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 12 shares in the last quarter. Raleigh Capital Management Inc. increased its position in shares of Lam Research by 78.6% in the 4th quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 22 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Lam Research in the 2nd quarter valued at about $40,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on LRCX shares. Needham & Company LLC reiterated a “buy” rating and issued a $1,130.00 price target on shares of Lam Research in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft decreased their target price on Lam Research from $1,100.00 to $950.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Morgan Stanley dropped their price target on Lam Research from $929.00 to $774.00 and set an “equal weight” rating on the stock in a research report on Tuesday. B. Riley lifted their price objective on shares of Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Finally, Wells Fargo & Company dropped their target price on shares of Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,013.37.

Insider Activity

In related news, SVP Neil J. Fernandes sold 4,409 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the completion of the sale, the senior vice president now directly owns 6,857 shares of the company’s stock, valued at $7,239,346.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total value of $687,282.22. Following the transaction, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at $5,219,945.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Neil J. Fernandes sold 4,409 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the sale, the senior vice president now owns 6,857 shares in the company, valued at approximately $7,239,346.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,326 shares of company stock worth $17,383,715. Corporate insiders own 0.32% of the company’s stock.

Lam Research Trading Up 1.3 %

NASDAQ:LRCX opened at $766.04 on Wednesday. The stock has a market cap of $100.15 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 1.48 and a beta of 1.48. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. Lam Research Co. has a 1 year low of $574.42 and a 1 year high of $1,130.00. The business has a fifty day moving average of $855.19 and a 200-day moving average of $929.39.

Shares of Lam Research are going to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be issued to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.58 by $0.56. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same period last year, the company posted $5.98 EPS. The firm’s quarterly revenue was up 20.7% on a year-over-year basis. Equities analysts predict that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be given a $2.30 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This is a boost from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 annualized dividend and a yield of 1.20%. Lam Research’s payout ratio is 33.84%.

Lam Research announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 21st that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 8.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Lam Research Company Profile

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.