Harbor Island Capital LLC Has $26.07 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

Harbor Island Capital LLC grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 900.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 360,900 shares of the semiconductor company’s stock after purchasing an additional 324,810 shares during the period. Lam Research comprises about 12.5% of Harbor Island Capital LLC’s holdings, making the stock its 2nd largest holding. Harbor Island Capital LLC’s holdings in Lam Research were worth $26,068,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LRCX. Atwood & Palmer Inc. purchased a new position in shares of Lam Research in the fourth quarter worth about $27,000. West Oak Capital LLC increased its holdings in shares of Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after buying an additional 135 shares during the period. Country Trust Bank increased its holdings in shares of Lam Research by 900.0% in the fourth quarter. Country Trust Bank now owns 400 shares of the semiconductor company’s stock worth $29,000 after buying an additional 360 shares during the period. Finley Financial LLC purchased a new position in shares of Lam Research in the fourth quarter worth about $30,000. Finally, Stephens Consulting LLC increased its holdings in shares of Lam Research by 900.0% in the fourth quarter. Stephens Consulting LLC now owns 430 shares of the semiconductor company’s stock worth $31,000 after buying an additional 387 shares during the period. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX opened at $82.83 on Friday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average price is $76.53 and its 200-day moving average price is $78.26. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The stock has a market cap of $106.58 billion, a P/E ratio of 25.16, a P/E/G ratio of 1.34 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping 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%. Equities research analysts anticipate that Lam Research Co. will post 3.69 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. Stockholders of record on Wednesday, March 5th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.11%. Lam Research’s dividend payout ratio is currently 27.95%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Mizuho decreased their price objective on Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a report on Friday, January 17th. Morgan Stanley boosted their price target on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Finally, Stifel Nicolaus restated a “buy” rating and set a $100.00 price target (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.72.

Lam Research Company 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.