Pinnacle Wealth Management Advisory Group LLC Boosts Stock Position in Lam Research Co. (NASDAQ:LRCX)

Pinnacle Wealth Management Advisory Group LLC lifted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 607.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,313 shares of the semiconductor company’s stock after purchasing an additional 17,442 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Lam Research were worth $1,467,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LRCX. Creative Planning lifted its holdings in Lam Research by 2.5% in 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 during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Lam Research by 2.0% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,698 shares of the semiconductor company’s stock valued at $11,179,000 after acquiring an additional 265 shares in the last quarter. Generate Investment Management Ltd boosted its position in Lam Research by 62.8% during the 3rd quarter. Generate Investment Management Ltd now owns 20,182 shares of the semiconductor company’s stock valued at $16,470,000 after acquiring an additional 7,782 shares in the last quarter. Blue Trust Inc. boosted its position in Lam Research by 95.5% during the 3rd quarter. Blue Trust Inc. now owns 2,898 shares of the semiconductor company’s stock valued at $2,365,000 after acquiring an additional 1,416 shares in the last quarter. Finally, Capital Investment Advisors LLC boosted its position in Lam Research by 27.8% during the 3rd quarter. Capital Investment Advisors LLC now owns 2,390 shares of the semiconductor company’s stock valued at $1,951,000 after acquiring an additional 520 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on LRCX shares. BNP Paribas raised Lam Research to a “hold” rating in a research report on Thursday, October 24th. B. Riley dropped their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Mizuho dropped their price target on Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company boosted their price target on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Finally, Barclays dropped their price target on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.72.

Lam Research Trading Down 0.7 %

NASDAQ:LRCX opened at $82.75 on Friday. The firm has a market capitalization of $106.22 billion, a price-to-earnings ratio of 25.14, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46. 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 business has a fifty day moving average price of $77.48 and a 200-day moving average price of $77.99. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its earnings results 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%. Sell-side analysts forecast that Lam Research Co. will post 3.69 EPS for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.11%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.95%.

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.