Harbor Capital Advisors Inc. Sells 213 Shares of Lam Research Co. (NASDAQ:LRCX)

Harbor Capital Advisors Inc. lessened its holdings in Lam Research Co. (NASDAQ:LRCX) by 4.3% in the third quarter, HoldingsChannel reports. The fund owned 4,701 shares of the semiconductor company’s stock after selling 213 shares during the period. Harbor Capital Advisors Inc.’s holdings in Lam Research were worth $3,836,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Lam Research during the 2nd quarter worth approximately $32,000. RFP Financial Group LLC increased its stake in Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 12 shares during the period. Hobbs Group Advisors LLC acquired a new position in Lam Research in the 2nd quarter valued at $40,000. Country Trust Bank bought a new stake in shares of Lam Research during the 2nd quarter valued at $43,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Lam Research during the 2nd quarter worth $45,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Lam Research

In other news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.29% of the stock is owned by corporate insiders.

Lam Research Stock Performance

Shares of LRCX stock opened at $74.80 on Monday. The stock has a market capitalization of $96.24 billion, a PE ratio of 24.18, a PEG ratio of 1.18 and a beta of 1.48. The business’s 50 day simple moving average is $78.15 and its 200 day simple moving average is $88.94. 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 $61.82 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period in the prior year, the firm posted $6.85 EPS. The company’s quarterly revenue was up 19.7% on a year-over-year basis. As a group, research analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Tuesday, September 17th. Lam Research’s dividend payout ratio is 29.74%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. TD Cowen upped their price objective on shares of Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Mizuho reduced their price target on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. UBS Group lowered their price objective on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Morgan Stanley reduced their target price on Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Finally, StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

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.