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

Harvest Fund Management Co. Ltd lowered its holdings in Lam Research Co. (NASDAQ:LRCX) by 55.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of LRCX. Dynamic Technology Lab Private Ltd purchased a new position in Lam Research in the 3rd quarter worth about $220,000. Fisher Asset Management LLC raised its holdings in shares of Lam Research by 0.6% during the third quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock valued at $1,527,273,000 after purchasing an additional 11,093 shares during the last quarter. SevenBridge Financial Group LLC lifted its position in Lam Research by 906.4% during the third quarter. SevenBridge Financial Group LLC now owns 32,770 shares of the semiconductor company’s stock valued at $26,743,000 after purchasing an additional 29,514 shares during the period. Larson Financial Group LLC boosted its holdings in 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 grew its position in Lam Research by 40.5% in the 3rd quarter. Algert Global LLC now owns 694 shares of the semiconductor company’s stock worth $566,000 after purchasing an additional 200 shares during the period. 84.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

LRCX has been the topic of a number of recent research reports. Mizuho lowered their target price on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Morgan Stanley dropped their price objective on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Citigroup reduced their target price on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Finally, StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and an average target price of $97.97.

Lam Research Trading Down 0.7 %

Shares of Lam Research stock opened at $72.64 on Monday. Lam Research Co. has a twelve month low of $68.72 and a twelve month high of $113.00. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average price of $76.93 and a 200-day moving average price of $87.29. The firm has a market cap of $93.47 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 1.15 and a beta of 1.48.

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

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.27%. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

Insider Activity

In other Lam Research news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction 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. The trade was a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.29% of the company’s stock.

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.