Pinnacle Wealth Planning Services Inc. Has $267,000 Stock Position in Lam Research Co. (NASDAQ:LRCX)

Pinnacle Wealth Planning Services Inc. boosted its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 414.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,701 shares of the semiconductor company's stock after purchasing an additional 2,982 shares during the period. Pinnacle Wealth Planning Services Inc.'s holdings in Lam Research were worth $267,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in LRCX. Vanguard Group Inc. lifted its stake in shares of Lam Research by 892.7% in the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock worth $8,724,498,000 after buying an additional 108,619,564 shares during the last quarter. FMR LLC lifted its position 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 during the last quarter. Ameriprise Financial Inc. lifted its position 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 during the last quarter. Geode Capital Management LLC lifted its position in shares of 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 purchasing an additional 28,307,499 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Lam Research during the 4th quarter worth about $1,661,672,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Stock Performance

LRCX stock traded down $3.84 during trading hours on Friday, reaching $80.32. The stock had a trading volume of 19,188,650 shares, compared to its average volume of 12,266,789. The stock has a market capitalization of $102.74 billion, a PE ratio of 24.40, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The stock has a 50-day simple moving average of $73.45 and a 200 day simple moving average of $75.94. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the business posted $7.79 EPS. Lam Research's revenue was up 24.4% on a year-over-year basis. Analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Wednesday, June 18th. Lam Research's dividend payout ratio is presently 25.63%.

Wall Street Analyst Weigh In

LRCX has been the subject of several research analyst reports. Jefferies Financial Group upped their target price on shares of Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Deutsche Bank Aktiengesellschaft set a $70.00 target price on shares of Lam Research and gave the stock a "hold" rating in a research report on Thursday, April 24th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $90.00 price target on shares of Lam Research in a report on Thursday, April 24th. TD Cowen lowered their price target 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. Finally, Mizuho lifted their price objective on Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $91.56.

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.