Harfst & Associates Inc. Buys 24,564 Shares of Lam Research Co. (NASDAQ:LRCX)

Harfst & Associates Inc. grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1,073.1% in the fourth quarter, HoldingsChannel reports. The fund owned 26,853 shares of the semiconductor company’s stock after purchasing an additional 24,564 shares during the quarter. Harfst & Associates Inc.’s holdings in Lam Research were worth $1,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of LRCX. China Universal Asset Management Co. Ltd. grew its position in shares of Lam Research by 109.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,647 shares of the semiconductor company’s stock valued at $1,348,000 after acquiring an additional 861 shares during the period. WD Rutherford LLC grew its position in shares of Lam Research by 28.0% during the 3rd quarter. WD Rutherford LLC now owns 1,047 shares of the semiconductor company’s stock valued at $854,000 after acquiring an additional 229 shares during the period. Mutual Advisors LLC lifted its stake in shares of Lam Research by 307.2% during the 3rd quarter. Mutual Advisors LLC now owns 8,343 shares of the semiconductor company’s stock valued at $6,809,000 after buying an additional 6,294 shares in the last quarter. Pinnacle Associates Ltd. lifted its stake in shares of Lam Research by 12.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 77,943 shares of the semiconductor company’s stock valued at $61,049,000 after buying an additional 8,548 shares in the last quarter. Finally, Diversify Wealth Management LLC purchased a new position in shares of Lam Research during the 3rd quarter valued at $10,767,000. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of NASDAQ:LRCX opened at $81.30 on Thursday. The company has a market capitalization of $104.36 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 1.47 and a beta of 1.46. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The firm’s 50-day moving average is $78.74 and its 200 day moving average is $78.11. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Research analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.13%. Lam Research’s payout ratio is 27.96%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Mizuho lifted their target price on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company boosted their price target on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus target price of $98.22.

Insider Activity at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is currently owned by insiders.

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.