Harbour Capital Advisors LLC Trims Stock Position in Lam Research Corporation (NASDAQ:LRCX)

Harbour Capital Advisors LLC lowered its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 0.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,340 shares of the semiconductor company’s stock after selling 200 shares during the period. Harbour Capital Advisors LLC’s holdings in Lam Research were worth $3,369,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Investment Partners Asset Management Inc. grew its stake in shares of Lam Research by 5.4% during the 1st quarter. Investment Partners Asset Management Inc. now owns 4,373 shares of the semiconductor company’s stock valued at $318,000 after buying an additional 226 shares during the period. Childress Capital Advisors LLC raised its stake in shares of Lam Research by 6.1% during the first quarter. Childress Capital Advisors LLC now owns 4,178 shares of the semiconductor company’s stock valued at $304,000 after purchasing an additional 240 shares during the period. Salem Investment Counselors Inc. lifted its holdings in Lam Research by 5.5% in the 1st quarter. Salem Investment Counselors Inc. now owns 4,716 shares of the semiconductor company’s stock worth $344,000 after buying an additional 246 shares in the last quarter. Legacy Wealth Asset Management LLC lifted its stake in shares of Lam Research by 1.9% in the first quarter. Legacy Wealth Asset Management LLC now owns 13,243 shares of the semiconductor company’s stock worth $963,000 after acquiring an additional 248 shares in the last quarter. Finally, ORG Partners LLC raised its position in shares of Lam Research by 19.2% in the 1st quarter. ORG Partners LLC now owns 1,562 shares of the semiconductor company’s stock valued at $114,000 after purchasing an additional 252 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LRCX has been the topic of a number of recent analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $110.00 price target (up previously from $80.00) on shares of Lam Research in a research report on Tuesday, June 17th. Wells Fargo & Company cut their target price on Lam Research from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Evercore ISI increased their price objective on Lam Research from $95.00 to $99.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 target price on shares of Lam Research in a research report on Thursday, April 24th. Finally, UBS Group decreased their price target on Lam Research from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.78.

Lam Research Stock Up 1.2%

Shares of Lam Research stock opened at $91.61 on Tuesday. The stock has a 50-day moving average price of $80.10 and a 200 day moving average price of $77.69. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. The company has a market cap of $117.18 billion, a P/E ratio of 25.53, a P/E/G ratio of 1.27 and a beta of 1.65. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. The business had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. Lam Research’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period last year, the company earned $7.79 earnings per share. As a group, analysts expect that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.00%. Lam Research’s dividend payout ratio (DPR) is presently 25.63%.

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.