Lam Research Co. (NASDAQ:LRCX) Position Trimmed by Central Asset Investments & Management Holdings HK Ltd

Central Asset Investments & Management Holdings HK Ltd decreased its holdings in Lam Research Co. (NASDAQ:LRCX) by 52.5% during the second quarter, Holdings Channel.com reports. 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 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. DSM Capital Partners LLC acquired a new stake in Lam Research during the fourth quarter valued at $28,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Lam Research during the 2nd quarter valued at about $32,000. RFP Financial Group LLC lifted its holdings in shares of Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares during the last quarter. Raleigh Capital Management Inc. grew its stake 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 valued at $39,000 after buying an additional 22 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in Lam Research in the second quarter worth approximately $40,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the completion of the transaction, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at approximately $5,219,945.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Lam Research news, SVP Neil J. Fernandes sold 4,409 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the sale, the senior vice president now directly owns 6,857 shares in the company, valued at $7,239,346.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold 16,326 shares of company stock valued at $17,383,715 in the last 90 days. 0.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

LRCX has been the subject of several recent research reports. TD Cowen boosted their target price on shares of Lam Research from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Raymond James upped their price objective on shares of Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Morgan Stanley cut their target price on Lam Research from $929.00 to $774.00 and set an “equal weight” rating on the stock in a report on Tuesday. Barclays upped their price target on Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $1,130.00 price objective on shares of Lam Research in a research note on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lam Research has an average rating of “Moderate Buy” and an average price target of $1,013.37.

Lam Research Stock Performance

NASDAQ:LRCX opened at $766.04 on Wednesday. The firm’s 50-day moving average is $855.19 and its 200-day moving average is $929.39. The company 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 52-week low of $574.42 and a 52-week high of $1,130.00.

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

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $3.82 billion. During the same quarter in the prior year, the firm posted $5.98 EPS. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. Equities research analysts anticipate that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 21st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to buy up to 8.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

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 paid a dividend of $2.30 per share. The ex-dividend date is Tuesday, September 17th. This represents a $9.20 dividend on an annualized basis and a yield of 1.20%. This is an increase from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s payout ratio is currently 33.84%.

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.