E Fund Management Co. Ltd. Sells 225 Shares of Lam Research Co. (NASDAQ:LRCX)

E Fund Management Co. Ltd. reduced its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 9.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Valued Wealth Advisors LLC bought a new stake in shares of Lam Research in the 4th quarter worth approximately $30,000. Orion Capital Management LLC bought a new stake in Lam Research in the third quarter worth $25,000. BluePath Capital Management LLC purchased a new stake in shares of Lam Research in the third quarter worth $28,000. Asset Dedication LLC increased its holdings in shares of 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 acquiring an additional 17 shares in the last quarter. Finally, Rakuten Securities Inc. purchased a new position in shares of Lam Research in the 4th quarter worth about $38,000. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

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

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

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Needham & Company LLC restated a “buy” rating and issued a $1,030.00 price objective on shares of Lam Research in a report on Thursday, April 25th. UBS Group increased their target price on Lam Research from $1,130.00 to $1,150.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Wells Fargo & Company boosted their price target on Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. increased their price objective on Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and a consensus price target of $950.85.

Insider Transactions at Lam Research

In related news, EVP Patrick J. Lord sold 60 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $921.54, for a total value of $55,292.40. Following the completion of the transaction, the executive vice president now owns 4,454 shares of the company’s stock, valued at approximately $4,104,539.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Lam Research news, EVP Patrick J. Lord sold 60 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were 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 directly owns 4,454 shares of the company’s stock, valued at approximately $4,104,539.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the sale, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Insiders sold a total of 7,489 shares of company stock valued at $6,978,065 over the last three months. Corporate insiders own 0.32% of the company’s stock.

Lam Research Company Profile

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.