Flagship Harbor Advisors LLC Raises Holdings in Lam Research Co. (NASDAQ:LRCX)

Flagship Harbor Advisors LLC increased its position in Lam Research Co. (NASDAQ:LRCX) by 832.0% in the 4th quarter, HoldingsChannel reports. The fund owned 5,890 shares of the semiconductor company’s stock after purchasing an additional 5,258 shares during the period. Flagship Harbor Advisors LLC’s holdings in Lam Research were worth $425,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LRCX. Parisi Gray Wealth Management raised its position in shares of Lam Research by 652.9% in the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock valued at $603,000 after purchasing an additional 7,241 shares during the period. Burns J W & Co. Inc. NY bought a new stake in Lam Research during the 4th quarter valued at $815,000. Jennison Associates LLC lifted its position in shares of Lam Research by 20.0% during the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after acquiring an additional 39,725 shares in the last quarter. Creative Planning boosted its holdings in shares of Lam Research by 2.5% in the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after acquiring an additional 1,146 shares during the period. Finally, Vest Financial LLC grew its position in shares of Lam Research by 68.7% in the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock valued at $29,372,000 after purchasing an additional 14,658 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on LRCX shares. Morgan Stanley raised their target price 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. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a research note on Friday, January 17th. Wells Fargo & Company dropped their price target on Lam Research from $83.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Barclays decreased their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $95.77.

Lam Research Price Performance

Shares of Lam Research stock opened at $74.51 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00. The business’s 50 day simple moving average is $75.53 and its two-hundred day simple moving average is $79.37. The stock has a market capitalization of $95.87 billion, a P/E ratio of 24.08, a price-to-earnings-growth ratio of 1.53 and a beta of 1.45.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.23%. Lam Research’s dividend payout ratio is currently 29.74%.

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.