Marble Harbor Investment Counsel LLC Buys New Shares in Lam Research Co. (NASDAQ:LRCX)

Marble Harbor Investment Counsel LLC bought a new stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 24,000 shares of the semiconductor company's stock, valued at approximately $1,734,000.

Other hedge funds have also made changes to their positions in the company. Parisi Gray Wealth Management raised its holdings in shares of Lam Research by 652.9% during the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company's stock valued at $603,000 after buying an additional 7,241 shares during the last quarter. Burns J W & Co. Inc. NY bought a new stake in Lam Research during the 4th quarter valued at $815,000. Centerpoint Advisors LLC boosted its position in Lam Research by 900.0% during the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock worth $72,000 after acquiring an additional 900 shares during the period. Jennison Associates LLC grew its stake in shares of Lam Research by 20.0% in the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company's stock worth $194,451,000 after purchasing an additional 39,725 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC increased its holdings in shares of Lam Research by 51.9% during the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company's stock valued at $175,800,000 after purchasing an additional 73,648 shares during the period. Institutional investors own 84.61% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on LRCX shares. The Goldman Sachs Group reduced their price objective on shares of Lam Research from $96.00 to $85.00 and set a "buy" rating for the company in a report on Friday, January 10th. Sanford C. Bernstein upgraded shares of Lam Research from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Morgan Stanley raised their price objective on shares of Lam Research from $76.00 to $78.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. Barclays cut their target price on Lam Research from $90.00 to $75.00 and set an "equal weight" rating for the company in a research report on Friday, January 17th. Finally, KeyCorp upgraded Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price target on the stock in a research report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $98.22.

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Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business's stock in a transaction on 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 completion of the sale, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Lam Research Stock Down 0.6 %

Shares of NASDAQ:LRCX traded down $0.45 during trading on Tuesday, reaching $73.36. 12,593,870 shares of the company traded hands, compared to its average volume of 11,072,124. The firm has a fifty day simple moving average of $79.35 and a 200 day simple moving average of $77.52. 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 Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The firm has a market cap of $94.17 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.25%. Lam Research's dividend payout ratio is currently 27.96%.

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.