Pittenger & Anderson Inc. Purchases 6,096 Shares of Lam Research Corporation (NASDAQ:LRCX)

Pittenger & Anderson Inc. lifted its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 10.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 63,487 shares of the semiconductor company's stock after buying an additional 6,096 shares during the period. Pittenger & Anderson Inc.'s holdings in Lam Research were worth $4,616,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. One Charles Private Wealth Services LLC raised its position in Lam Research by 843.4% in the fourth quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company's stock worth $289,000 after purchasing an additional 3,576 shares in the last quarter. Brighton Jones LLC raised its stake in shares of Lam Research by 1,032.4% in the fourth quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock valued at $1,025,000 after acquiring an additional 12,936 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Lam Research by 966.8% in the 4th quarter. Proficio Capital Partners LLC now owns 36,986 shares of the semiconductor company's stock worth $2,672,000 after acquiring an additional 33,519 shares in the last quarter. AlphaQuest LLC boosted its holdings in shares of Lam Research by 182.0% in the 4th quarter. AlphaQuest LLC now owns 4,354 shares of the semiconductor company's stock worth $314,000 after acquiring an additional 2,810 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Lam Research by 1,315.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,231 shares of the semiconductor company's stock worth $306,000 after acquiring an additional 3,932 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

LRCX has been the topic of several recent analyst reports. Citigroup reissued a "buy" rating and issued a $108.00 target price (up from $87.00) on shares of Lam Research in a report on Monday, July 7th. Argus upgraded shares of Lam Research to a "strong-buy" rating in a research report on Friday, April 25th. Mizuho boosted their price objective on shares of Lam Research from $100.00 to $115.00 and gave the stock an "outperform" rating in a research report on Monday. Cantor Fitzgerald restated an "overweight" rating and issued a $115.00 price objective (up previously from $90.00) on shares of Lam Research in a research report on Tuesday, June 24th. Finally, Morgan Stanley boosted their price objective on shares of Lam Research from $82.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $99.14.

Lam Research Price Performance

Lam Research stock traded down $0.70 during mid-day trading on Wednesday, reaching $100.37. The company had a trading volume of 15,366,899 shares, compared to its average volume of 12,388,189. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $102.19. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. The company has a market cap of $128.39 billion, a P/E ratio of 27.97, a P/E/G ratio of 1.43 and a beta of 1.68. The business has a fifty day simple moving average of $89.58 and a 200 day simple moving average of $80.29.

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 for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The firm had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the business posted $7.79 earnings per share. The company's quarterly revenue was up 24.4% on a year-over-year basis. On average, equities research analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm 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. This represents a $0.92 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's payout ratio is currently 25.63%.

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.