PFG Investments LLC Purchases 7,040 Shares of Lam Research Co. (NASDAQ:LRCX)

PFG Investments LLC grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 591.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,230 shares of the semiconductor company’s stock after buying an additional 7,040 shares during the period. PFG Investments LLC’s holdings in Lam Research were worth $594,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LRCX. Trust Co. of Toledo NA OH lifted its position in Lam Research by 2.4% during the third quarter. Trust Co. of Toledo NA OH now owns 2,074 shares of the semiconductor company’s stock valued at $1,693,000 after purchasing an additional 49 shares during the last quarter. Quarry LP lifted its holdings in shares of Lam Research by 175.0% in the 2nd quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock valued at $94,000 after acquiring an additional 56 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake in Lam Research by 20.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 412 shares of the semiconductor company’s stock worth $439,000 after acquiring an additional 70 shares during the last quarter. American National Bank & Trust raised its position in Lam Research by 34.0% during the third quarter. American National Bank & Trust now owns 288 shares of the semiconductor company’s stock valued at $235,000 after purchasing an additional 73 shares during the period. Finally, Cypress Capital Group lifted its stake in shares of Lam Research by 3.7% in the 3rd quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock valued at $2,987,000 after purchasing an additional 132 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on LRCX shares. Sanford C. Bernstein decreased their price target on Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a report on Friday, November 29th. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research report on Friday, January 17th. Finally, B. Riley dropped their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.77.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $75.15 on Thursday. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The company has a market cap of $96.69 billion, a PE ratio of 24.29, a P/E/G ratio of 1.53 and a beta of 1.45. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The business has a 50-day simple moving average of $75.62 and a two-hundred day simple moving average of $79.15.

Lam Research (NASDAQ:LRCX) last released 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 26.02% and a return on equity of 50.60%. As a group, equities analysts expect that Lam Research Co. will post 3.51 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.22%. Lam Research’s payout ratio is presently 29.74%.

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.