Bar Harbor Wealth Management Invests $4.05 Million in Lam Research Co. (NASDAQ:LRCX)

Bar Harbor Wealth Management bought a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 55,747 shares of the semiconductor company's stock, valued at approximately $4,053,000.

Several other institutional investors have also recently added to or reduced their stakes in LRCX. Fairway Wealth LLC increased its stake in shares of Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after buying an additional 306 shares in the last quarter. Financial Perspectives Inc grew its holdings in Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 309 shares during the last quarter. West Paces Advisors Inc. acquired a new stake in Lam Research in the 4th quarter valued at about $27,000. Mpwm Advisory Solutions LLC bought a new position in shares of Lam Research in the fourth quarter worth about $27,000. Finally, Midwest Capital Advisors LLC acquired a new position in shares of Lam Research during the fourth quarter worth approximately $27,000. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Down 2.3%

Shares of NASDAQ:LRCX traded down $2.14 during trading on Friday, hitting $89.52. 10,977,636 shares of the company's stock traded hands, compared to its average volume of 12,305,432. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average price of $77.13 and a 200-day moving average price of $77.01. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The company has a market cap of $114.51 billion, a price-to-earnings ratio of 27.19, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The firm had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the previous year, the firm posted $7.79 earnings per share. The business's revenue was up 24.4% on a year-over-year basis. As a group, research analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's dividend payout ratio is 25.63%.

Analysts Set New Price Targets

A number of analysts recently weighed in on LRCX shares. Barclays lowered their price target on shares of Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Mizuho upped their price target on Lam Research from $87.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Morgan Stanley raised their price target on Lam Research from $81.00 to $82.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. TD Cowen dropped their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Needham & Company LLC reduced their target price on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $90.87.

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.