Hartford Investment Management Co. Has $5.74 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Hartford Investment Management Co. increased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 869.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 79,495 shares of the semiconductor company’s stock after purchasing an additional 71,295 shares during the quarter. Hartford Investment Management Co.’s holdings in Lam Research were worth $5,742,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in LRCX. Creative Planning grew its position in Lam Research by 2.5% during the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after buying an additional 1,146 shares in the last quarter. Benson Investment Management Company Inc. acquired a new stake in Lam Research during the third quarter worth about $5,182,000. Magnus Financial Group LLC acquired a new stake in Lam Research during the third quarter worth about $335,000. Foster Victor Wealth Advisors LLC lifted its stake in Lam Research by 994.1% during the third quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company’s stock worth $190,066,000 after purchasing an additional 211,614 shares during the period. Finally, Asset Dedication LLC lifted its stake in Lam Research by 469.4% during the third quarter. Asset Dedication LLC now owns 279 shares of the semiconductor company’s stock worth $228,000 after purchasing an additional 230 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Performance

LRCX stock opened at $83.26 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The company has a 50 day moving average price of $77.03 and a 200 day moving average price of $78.01. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The stock has a market capitalization of $106.88 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Analysts forecast that Lam Research Co. will post 3.69 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is presently 27.95%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. B. Riley cut their price target on shares of 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 cut their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Wells Fargo & Company raised their price target on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Mizuho cut their price target on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Finally, Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company 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.