Harbour Capital Advisors LLC Has $3.37 Million Stock Position in Lam Research Corporation (NASDAQ:LRCX)

Harbour Capital Advisors LLC cut its holdings in shares of Lam Research Corporation (NASDAQ:LRCX) by 0.4% in the first quarter, Holdings Channel reports. The institutional investor owned 46,340 shares of the semiconductor company’s stock after selling 200 shares during the quarter. Harbour Capital Advisors LLC’s holdings in Lam Research were worth $3,369,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of LRCX. Fairway Wealth LLC increased its stake in Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 306 shares during the period. Midwest Capital Advisors LLC bought a new stake in shares of Lam Research during the fourth quarter valued at approximately $27,000. West Paces Advisors Inc. bought a new stake in shares of Lam Research during the fourth quarter valued at approximately $27,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Lam Research in the fourth quarter valued at $27,000. Finally, Bell Investment Advisors Inc lifted its position in Lam Research by 836.6% in the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 343 shares during the period. 84.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. TD Cowen lowered their price target on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Evercore ISI lifted their target price on shares of Lam Research from $95.00 to $99.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Needham & Company LLC dropped their price target on shares of Lam Research from $96.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft set a $70.00 price target on shares of Lam Research and gave the stock a “hold” rating in a research note on Thursday, April 24th. Finally, Bank of America lowered their price objective on Lam Research from $110.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Seven 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 MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and an average target price of $92.78.

Lam Research Trading Up 1.2%

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

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

Lam Research Dividend Announcement

The company 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. This represents a $0.92 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research’s dividend payout ratio (DPR) is presently 25.63%.

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.