E Fund Management Co. Ltd. Has $1.75 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

E Fund Management Co. Ltd. cut its holdings in Lam Research Co. (NASDAQ:LRCX) by 9.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,238 shares of the semiconductor company’s stock after selling 225 shares during the period. E Fund Management Co. Ltd.’s holdings in Lam Research were worth $1,753,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Orion Capital Management LLC acquired a new position in Lam Research in the third quarter worth about $25,000. BluePath Capital Management LLC bought a new stake in shares of Lam Research during the third quarter worth $28,000. OFI Invest Asset Management acquired a new position in Lam Research during the 3rd quarter valued at about $30,000. Asset Dedication LLC boosted its stake in Lam Research by 56.7% in the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 17 shares during the last quarter. Finally, Valued Wealth Advisors LLC acquired a new position in Lam Research in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Susquehanna decreased their price objective on shares of Lam Research from $880.00 to $850.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. UBS Group boosted their price target on shares of Lam Research from $1,130.00 to $1,150.00 and gave the company a “buy” rating in a report on Thursday, April 25th. TD Cowen raised their price objective on Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Cantor Fitzgerald reissued a “neutral” rating and issued a $1,100.00 target price on shares of Lam Research in a research note on Thursday, April 25th. Finally, Barclays raised their price target on Lam Research from $825.00 to $865.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $950.85.

Lam Research Price Performance

Lam Research stock traded down $5.74 during midday trading on Thursday, reaching $907.54. The company’s stock had a trading volume of 576,274 shares, compared to its average volume of 1,048,279. The stock has a market cap of $118.65 billion, a PE ratio of 33.39, a price-to-earnings-growth ratio of 2.82 and a beta of 1.51. The company has a current ratio of 2.82, a quick ratio of 1.84 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $940.52 and a 200-day moving average price of $825.36. Lam Research Co. has a 52 week low of $520.05 and a 52 week high of $1,007.39.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. Lam Research’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.99 EPS. On average, sell-side analysts predict that Lam Research Co. will post 29.62 EPS for the current year.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of 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 document filed with the SEC, which is accessible through this link. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the transaction, 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 document filed with the SEC, which is available through this hyperlink. Also, EVP Patrick J. Lord sold 60 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $921.54, for a total transaction of $55,292.40. Following the completion of the sale, the executive vice president now owns 4,454 shares of the company’s stock, valued at approximately $4,104,539.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,489 shares of company stock worth $6,978,065. Company insiders own 0.32% 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.