Harvest Fund Management Co. Ltd Has $2.45 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

Harvest Fund Management Co. Ltd lowered its position in shares of Lam Research Co. (NASDAQ:LRCX) by 1.3% during the fourth quarter, according to its most recent Form 13F 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 quarter. Harvest Fund Management Co. Ltd’s holdings in Lam Research were worth $2,453,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in LRCX. Orion Capital Management LLC purchased a new position in Lam Research during the third quarter valued at approximately $25,000. BluePath Capital Management LLC purchased a new position in Lam Research during the third quarter valued at approximately $28,000. OFI Invest Asset Management purchased a new position in Lam Research during the third quarter valued at approximately $30,000. Asset Dedication LLC grew its position in Lam Research by 56.7% during the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 17 shares in the last quarter. Finally, Valued Wealth Advisors LLC purchased a new position in Lam Research during the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Performance

NASDAQ:LRCX traded up $19.35 during trading hours on Tuesday, hitting $887.42. 981,354 shares of the company traded hands, compared to its average volume of 1,057,222. The stock has a market capitalization of $116.34 billion, a price-to-earnings ratio of 34.32, a P/E/G ratio of 3.15 and a beta of 1.51. Lam Research Co. has a twelve month low of $493.42 and a twelve month high of $1,007.39. The firm has a 50-day moving average of $944.54 and a 200 day moving average of $805.82. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.06 by $0.46. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The company had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the prior year, the company posted $10.71 EPS. The business’s revenue was down 28.8% on a year-over-year basis. On average, analysts forecast that Lam Research Co. will post 28.92 EPS for the current year.

Lam Research Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages recently commented on LRCX. The Goldman Sachs Group boosted their price objective on shares of Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Lam Research in a research report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 price objective on the stock. Raymond James boosted their target price on shares of Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. TD Cowen boosted their target price on shares of Lam Research from $710.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, Cantor Fitzgerald boosted their target price on shares of Lam Research from $900.00 to $1,100.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Seven investment 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $931.85.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the sale, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the sale, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the sale, the director now owns 10,541 shares in the company, valued at $10,246,168.23. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,029 shares of company stock valued at $6,559,489. 0.32% of the stock is currently owned by 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.