Harbor Capital Advisors Inc. Buys 15,700 Shares of Lam Research Co. (NASDAQ:LRCX)

Harbor Capital Advisors Inc. boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 334.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,401 shares of the semiconductor company’s stock after acquiring an additional 15,700 shares during the period. Harbor Capital Advisors Inc.’s holdings in Lam Research were worth $1,474,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LRCX. Quarry LP grew its stake in Lam Research by 175.0% during the second quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock worth $94,000 after buying an additional 56 shares in the last quarter. NCP Inc. bought a new stake in Lam Research during the second quarter worth $213,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Lam Research by 2,400.0% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after purchasing an additional 192 shares in the last quarter. Excalibur Management Corp bought a new position in shares of Lam Research in the 2nd quarter valued at $225,000. Finally, Mill Creek Capital Advisors LLC acquired a new position in shares of Lam Research during the 2nd quarter worth $226,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LRCX. BNP Paribas upgraded Lam Research to a “hold” rating in a research report on Thursday, October 24th. Citigroup dropped their price target on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. Wells Fargo & Company cut their target price on shares of Lam Research from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Friday, December 6th. B. Riley cut their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, Sanford C. Bernstein lowered their price objective on Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a research report on Friday, November 29th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.65.

Lam Research Price Performance

Shares of LRCX opened at $74.65 on Monday. The business’s fifty day moving average is $74.72 and its 200 day moving average is $81.65. Lam Research Co. has a 12-month low of $68.87 and a 12-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 stock has a market cap of $96.05 billion, a P/E ratio of 24.13, a P/E/G ratio of 1.22 and a beta of 1.45.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period last year, the firm earned $6.85 earnings per share. Sell-side analysts anticipate that Lam Research Co. will post 3.5 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.77%.

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.