Harbor Island Capital LLC Grows Stake in Lam Research Co. (NASDAQ:LRCX)

Harbor Island Capital LLC boosted its holdings in Lam Research Co. (NASDAQ:LRCX) by 900.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 360,900 shares of the semiconductor company’s stock after acquiring an additional 324,810 shares during the quarter. Lam Research accounts for approximately 12.5% of Harbor Island Capital LLC’s holdings, making the stock its 2nd largest position. Harbor Island Capital LLC’s holdings in Lam Research were worth $26,068,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. raised its stake in Lam Research by 2,400.0% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after buying an additional 192 shares during the last quarter. Sunflower Bank N.A. purchased a new stake in Lam Research during the 3rd quarter valued at $202,000. Insight Wealth Partners LLC purchased a new stake in Lam Research during the 3rd quarter valued at $202,000. B&L Asset Management LLC purchased a new stake in Lam Research during the 3rd quarter valued at $204,000. Finally, CWC Advisors LLC. purchased a new stake in Lam Research during the 3rd quarter valued at $220,000. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Up 1.1 %

LRCX opened at $82.83 on Friday. The firm has a 50-day simple moving average of $76.53 and a two-hundred day simple moving average of $78.26. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The company has a market capitalization of $106.58 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 1.34 and a beta of 1.46. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data 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%. Analysts forecast that Lam Research Co. will post 3.69 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.11%. Lam Research’s dividend payout ratio (DPR) is presently 27.95%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on LRCX shares. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective on shares of Lam Research in a research note on Thursday, January 30th. BNP Paribas upgraded Lam Research to a “hold” rating in a research note on Thursday, October 24th. Wells Fargo & Company upped their price objective on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Finally, Morgan Stanley upped their price objective on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.72.

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.