PFG Investments LLC Buys 2,225 Shares of Lam Research Co. (NASDAQ:LRCX)

PFG Investments LLC grew its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 678.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,553 shares of the semiconductor company's stock after buying an additional 2,225 shares during the quarter. PFG Investments LLC's holdings in Lam Research were worth $2,480,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arlington Trust Co LLC lifted its holdings in Lam Research by 7.7% in the fourth quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company's stock worth $143,000 after buying an additional 13 shares during the period. Capital Performance Advisors LLP raised its holdings in Lam Research by 2.2% in the 4th quarter. Capital Performance Advisors LLP now owns 613 shares of the semiconductor company's stock worth $480,000 after acquiring an additional 13 shares during the last quarter. Van Leeuwen & Company LLC raised its holdings in Lam Research by 0.5% in the 4th quarter. Van Leeuwen & Company LLC now owns 2,583 shares of the semiconductor company's stock worth $2,023,000 after acquiring an additional 13 shares during the last quarter. First Affirmative Financial Network raised its holdings in Lam Research by 2.5% in the 1st quarter. First Affirmative Financial Network now owns 525 shares of the semiconductor company's stock worth $510,000 after acquiring an additional 13 shares during the last quarter. Finally, CNB Bank raised its holdings in Lam Research by 1.4% in the 4th quarter. CNB Bank now owns 1,032 shares of the semiconductor company's stock worth $808,000 after acquiring an additional 14 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LRCX has been the subject of a number of recent analyst reports. Needham & Company LLC restated a "buy" rating and issued a $1,030.00 price objective on shares of Lam Research in a report on Thursday. Evercore ISI assumed coverage on Lam Research in a research note on Tuesday, April 16th. They issued an "outperform" rating and a $1,200.00 price objective for the company. Susquehanna reduced their price objective on Lam Research from $880.00 to $850.00 and set a "neutral" rating for the company in a research note on Thursday. JPMorgan Chase & Co. upped their price objective on Lam Research from $900.00 to $950.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, B. Riley raised shares of Lam Research from a "neutral" rating to a "buy" rating and upped their target price for the stock from $870.00 to $1,100.00 in a report on Friday, April 19th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $950.85.

Insider Transactions at Lam Research

In other news, CAO Christina Corrreia sold 647 shares of the business's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the sale, the chief accounting officer now owns 5,541 shares of the company's stock, valued at $5,386,018.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the business's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the transaction, the director now directly owns 10,541 shares in the company, valued at approximately $10,246,168.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the business's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the transaction, the chief accounting officer now owns 5,541 shares in the company, valued at $5,386,018.23. The disclosure for this sale can be found here. Insiders sold 7,029 shares of company stock valued at $6,559,489 over the last 90 days. Corporate insiders own 0.32% of the company's stock.

Lam Research Stock Performance

Shares of Lam Research stock traded up $23.90 during trading on Friday, hitting $925.37. 1,397,129 shares of the company's stock were exchanged, compared to its average volume of 1,010,097. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.02 and a current ratio of 2.82. The business has a 50-day simple moving average of $943.67 and a 200-day simple moving average of $811.51. Lam Research Co. has a 52-week low of $493.42 and a 52-week high of $1,007.39. The stock has a market capitalization of $121.32 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 3.29 and a beta of 1.51.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, beating analysts' consensus estimates of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The company had revenue of $3.79 billion during the quarter, compared to analysts' expectations of $3.72 billion. During the same quarter in the previous year, the company earned $6.99 earnings per share. The firm's revenue for the quarter was down 2.0% on a year-over-year basis. On average, research analysts forecast that Lam Research Co. will post 29.54 EPS for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were paid a dividend of $2.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.86%. Lam Research's dividend payout ratio is currently 29.42%.

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.

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