Pinnacle Wealth Planning Services Inc. Buys 2,982 Shares of Lam Research Co. (NASDAQ:LRCX)

Pinnacle Wealth Planning Services Inc. boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 414.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,701 shares of the semiconductor company’s stock after purchasing an additional 2,982 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Lam Research were worth $267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in LRCX. Foster & Motley Inc. bought a new stake in Lam Research during the third quarter valued at about $591,000. M&G PLC boosted its holdings in Lam Research by 21.9% in the third quarter. M&G PLC now owns 24,662 shares of the semiconductor company’s stock worth $20,124,000 after acquiring an additional 4,431 shares in the last quarter. Montecito Bank & Trust boosted its holdings in Lam Research by 109.2% in the third quarter. Montecito Bank & Trust now owns 931 shares of the semiconductor company’s stock worth $760,000 after acquiring an additional 486 shares in the last quarter. Summit Global Investments boosted its holdings in Lam Research by 60.2% in the third quarter. Summit Global Investments now owns 7,208 shares of the semiconductor company’s stock worth $5,882,000 after acquiring an additional 2,708 shares in the last quarter. Finally, AIA Group Ltd acquired a new stake in Lam Research in the third quarter worth about $430,000. Institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and raised their price target for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a report on Friday, January 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a report on Tuesday, February 18th. Finally, Sanford C. Bernstein raised 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 report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

Lam Research Stock Up 3.3 %

Shares of LRCX stock opened at $79.01 on Friday. The stock has a 50 day moving average of $79.30 and a 200 day moving average of $77.82. 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 stock has a market cap of $101.42 billion, a P/E ratio of 24.00, a P/E/G ratio of 1.47 and a beta of 1.53. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, sell-side analysts expect that Lam Research Co. will post 3.71 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Insider Activity

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the transaction, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.29% of the company’s stock.

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.