Harbour Investments Inc. Invests $206,000 in Lam Research Co. (NASDAQ:LRCX)

Harbour Investments Inc. bought a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,856 shares of the semiconductor company’s stock, valued at approximately $206,000.

Several other hedge funds have also modified their holdings of the company. West Oak Capital LLC boosted its stake in shares of Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 135 shares in the last quarter. Baldwin Investment Management LLC raised its position in shares of Lam Research by 1.4% during the 3rd quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock worth $8,364,000 after purchasing an additional 137 shares during the last quarter. Bedell Frazier Investment Counselling LLC raised its position in shares of Lam Research by 10.1% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company’s stock worth $1,272,000 after purchasing an additional 143 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Lam Research by 3.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,859 shares of the semiconductor company’s stock worth $3,149,000 after purchasing an additional 144 shares during the last quarter. Finally, IHT Wealth Management LLC raised its position in shares of Lam Research by 5.7% during the 3rd quarter. IHT Wealth Management LLC now owns 2,729 shares of the semiconductor company’s stock worth $2,216,000 after purchasing an additional 147 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LRCX. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Wells Fargo & Company upped 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 report on Thursday, January 30th. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research report on Friday, January 17th. Barclays cut their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Lam Research in a report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.06.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the transaction, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Lam Research Price Performance

LRCX stock opened at $75.84 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The firm has a market capitalization of $97.35 billion, a P/E ratio of 23.04, a P/E/G ratio of 1.47 and a beta of 1.53. The business’s 50-day moving average is $79.62 and its two-hundred day moving average is $77.28. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00.

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

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Lam Research 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.