Sanders Morris Harris LLC Buys 38,178 Shares of Lam Research Co. (NASDAQ:LRCX)

Sanders Morris Harris LLC boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 900.0% in the fourth quarter, HoldingsChannel reports. The firm owned 42,420 shares of the semiconductor company’s stock after purchasing an additional 38,178 shares during the quarter. Sanders Morris Harris LLC’s holdings in Lam Research were worth $3,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LRCX. West Oak Capital LLC boosted its position in Lam Research by 50.9% during the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 135 shares during the period. Laurel Wealth Advisors LLC bought a new stake in shares of Lam Research in the fourth quarter valued at about $37,000. Eagle Bay Advisors LLC boosted its position in shares of Lam Research by 484.2% in the fourth quarter. Eagle Bay Advisors LLC now owns 555 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 460 shares during the period. Fortitude Family Office LLC boosted its position in shares of Lam Research by 896.7% in the fourth quarter. Fortitude Family Office LLC now owns 598 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 538 shares during the period. Finally, Rosenberg Matthew Hamilton boosted its position in shares of Lam Research by 900.0% in the fourth quarter. Rosenberg Matthew Hamilton now owns 620 shares of the semiconductor company’s stock valued at $45,000 after acquiring an additional 558 shares during the period. 84.61% of the stock is owned by institutional investors.

Lam Research Trading Up 4.0 %

Shares of Lam Research stock traded up $3.08 on Thursday, reaching $79.23. 1,620,426 shares of the company’s stock were exchanged, compared to its average volume of 9,370,183. The company has a market capitalization of $101.94 billion, a P/E ratio of 25.61, a price-to-earnings-growth ratio of 1.37 and a beta of 1.45. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The firm’s 50-day moving average is $74.70 and its two-hundred day moving average is $81.22. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. 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 earned $6.85 earnings per share. Lam Research’s revenue for the quarter was up 19.7% on a year-over-year basis. Sell-side analysts predict that Lam Research Co. will post 3.51 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Sanford C. Bernstein reduced their target price on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a research report on Friday, November 29th. Morgan Stanley boosted their target price on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. B. Riley dropped their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. The Goldman Sachs Group lowered their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.59.

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.