Lam Research Corporation (NASDAQ:LRCX) Shares Acquired by Pinnacle Wealth Management Advisory Group LLC

Key Points

• Pinnacle Wealth Management Advisory Group LLC increased its stake in Lam Research Corporation by 28.7%, owning 26,148 shares valued at approximately $1.90 million after buying an additional 5,835 shares.
• Several hedge funds significantly increased their positions in Lam Research in the fourth quarter, with FMR LLC's holdings growing by over 1,000%, reflecting a growing institutional interest in the company.
• Lam Research recently declared a quarterly dividend of $0.23 per share, which translates to an annual yield of 0.95% and a payout ratio of 25.63%.

Pinnacle Wealth Management Advisory Group LLC lifted its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 28.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,148 shares of the semiconductor company's stock after purchasing an additional 5,835 shares during the period. Pinnacle Wealth Management Advisory Group LLC's holdings in Lam Research were worth $1,901,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC grew its holdings in Lam Research by 1,032.6% during the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock worth $2,891,453,000 after acquiring an additional 36,496,689 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Lam Research by 950.5% during the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock worth $2,495,128,000 after acquiring an additional 31,255,726 shares in the last quarter. Geode Capital Management LLC grew its holdings in Lam Research by 907.1% during the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock worth $2,265,610,000 after acquiring an additional 28,307,499 shares in the last quarter. Invesco Ltd. grew its holdings in Lam Research by 909.5% during the 4th quarter. Invesco Ltd. now owns 16,858,135 shares of the semiconductor company's stock worth $1,217,663,000 after acquiring an additional 15,188,173 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Lam Research by 1,067.0% during the 4th quarter. Northern Trust Corp now owns 15,869,244 shares of the semiconductor company's stock worth $1,146,235,000 after acquiring an additional 14,509,407 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Stock Performance

Lam Research stock traded down $4.89 during trading hours on Thursday, reaching $94.20. 18,662,119 shares of the stock were exchanged, compared to its average volume of 11,930,865. The stock has a market cap of $120.49 billion, a P/E ratio of 26.29, a P/E/G ratio of 1.40 and a beta of 1.68. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $102.59. The firm's 50 day moving average is $93.41 and its 200 day moving average is $82.09.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.21 by $0.12. The company had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $4.99 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. Lam Research's quarterly revenue was up 33.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 EPS. Analysts predict that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.0%. Lam Research's dividend payout ratio is 25.63%.

Wall Street Analyst Weigh In

Several research firms have commented on LRCX. Barclays set a $83.00 price target on shares of Lam Research and gave the stock an "equal weight" rating in a report on Monday. Evercore ISI upped their target price on shares of Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Stifel Nicolaus upped their target price on shares of Lam Research from $92.00 to $110.00 and gave the company a "buy" rating in a report on Tuesday. Argus upgraded shares of Lam Research to a "strong-buy" rating in a report on Friday, April 25th. Finally, TD Securities lowered their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Eight investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Lam Research has a consensus rating of "Moderate Buy" and an average price target of $106.05.

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.