Pinnacle Bancorp Inc. Increases Stock Position in Lam Research Co. (NASDAQ:LRCX)

Pinnacle Bancorp Inc. boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 7,718.2% during the fourth quarter, Holdings Channel reports. The firm owned 860 shares of the semiconductor company’s stock after purchasing an additional 849 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Lam Research were worth $62,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP lifted its holdings in shares of Lam Research by 175.0% during the 2nd quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock valued at $94,000 after buying an additional 56 shares during the period. NCP Inc. bought a new position in Lam Research in the second quarter valued at about $213,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in Lam Research by 2,400.0% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock worth $163,000 after purchasing an additional 192 shares during the last quarter. Mill Creek Capital Advisors LLC bought a new stake in shares of Lam Research during the 2nd quarter valued at about $226,000. Finally, MQS Management LLC purchased a new stake in shares of Lam Research during the 2nd quarter valued at about $228,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

LRCX has been the subject of several recent research reports. The Goldman Sachs Group cut their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Wells Fargo & Company reduced their price objective on Lam Research from $83.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday. B. Riley lowered their target price 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. BNP Paribas upgraded Lam Research to a “hold” rating in a research report on Thursday, October 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.59.

Lam Research Trading Up 4.0 %

LRCX opened at $79.22 on Friday. The stock has a 50-day moving average of $74.68 and a 200 day moving average of $81.00. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The firm has a market cap of $101.93 billion, a P/E ratio of 25.60, a P/E/G ratio of 1.37 and a beta of 1.45.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same quarter last year, the business earned $6.85 EPS. The business’s revenue was up 19.7% on a year-over-year basis. As a group, research analysts forecast that Lam Research Co. will post 3.51 EPS for the current year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 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.