Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. increased its stake in Lam Research Co. (NASDAQ:LRCX) by 773.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,391 shares of the semiconductor company’s stock after buying an additional 50,823 shares during the period. Pittenger & Anderson Inc.’s holdings in Lam Research were worth $4,145,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in LRCX. Atwood & Palmer Inc. bought a new stake in shares of Lam Research in the fourth quarter worth $27,000. West Oak Capital LLC increased its stake in shares of Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after buying an additional 135 shares during the last quarter. Country Trust Bank increased its stake in Lam Research by 900.0% during the fourth quarter. Country Trust Bank now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 360 shares during the last quarter. Finley Financial LLC bought a new stake in Lam Research during the fourth quarter valued at $30,000. Finally, Stephens Consulting LLC increased its stake in Lam Research by 900.0% during the fourth quarter. Stephens Consulting LLC now owns 430 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 387 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

NASDAQ LRCX opened at $82.75 on Monday. The stock’s 50-day moving average price is $77.48 and its two-hundred day moving average price is $77.86. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The company has a market cap of $106.22 billion, a PE ratio of 25.14, a PEG ratio of 1.37 and a beta of 1.46. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. On average, analysts predict that Lam Research Co. will post 3.69 EPS for the current year.

Lam Research Dividend Announcement

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

Analyst Upgrades and Downgrades

LRCX has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Lam Research in a research note on Thursday, January 30th. B. Riley reduced their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Mizuho reduced their price target on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Finally, Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.