Harvest Fund Management Co. Ltd Trims Position in Lam Research Co. (NASDAQ:LRCX)

Harvest Fund Management Co. Ltd trimmed its position in Lam Research Co. (NASDAQ:LRCX) by 55.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,282 shares of the semiconductor company’s stock after selling 9,050 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Lam Research were worth $5,943,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new stake in Lam Research during the third quarter valued at $220,000. Fisher Asset Management LLC raised its holdings in shares of Lam Research by 0.6% in the 3rd quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock valued at $1,527,273,000 after acquiring an additional 11,093 shares in the last quarter. SevenBridge Financial Group LLC grew its holdings in shares of Lam Research by 906.4% during the third quarter. SevenBridge Financial Group LLC now owns 32,770 shares of the semiconductor company’s stock worth $26,743,000 after purchasing an additional 29,514 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Lam Research by 20,995.8% in the third quarter. Larson Financial Group LLC now owns 5,063 shares of the semiconductor company’s stock worth $4,131,000 after purchasing an additional 5,039 shares during the last quarter. Finally, Algert Global LLC raised its stake in Lam Research by 40.5% in the third quarter. Algert Global LLC now owns 694 shares of the semiconductor company’s stock valued at $566,000 after purchasing an additional 200 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Lam Research Trading Down 0.7 %

NASDAQ LRCX opened at $72.64 on Monday. The stock has a market cap of $93.47 billion, a P/E ratio of 23.48, a price-to-earnings-growth ratio of 1.15 and a beta of 1.48. Lam Research Co. has a fifty-two week low of $68.72 and a fifty-two week high of $113.00. The stock has a 50 day simple moving average of $76.93 and a two-hundred day simple moving average of $87.29. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the previous year, the business posted $6.85 earnings per share. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. On average, analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Wednesday, December 11th. Lam Research’s payout ratio is currently 29.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Cantor Fitzgerald reissued a “neutral” rating and issued a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. UBS Group dropped their price target on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Mizuho reduced their price objective on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $97.97.

Insiders Place Their Bets

In related news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the sale, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is currently owned by company insiders.

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.