Pittenger & Anderson Inc. Buys 672 Shares of Lam Research Co. (NASDAQ:LRCX)

Pittenger & Anderson Inc. lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 14.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,406 shares of the semiconductor company’s stock after acquiring an additional 672 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Lam Research were worth $4,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Blue Whale Capital LLP boosted its position in shares of Lam Research by 0.7% during the 3rd quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock valued at $70,386,000 after purchasing an additional 800 shares in the last quarter. Everence Capital Management Inc. increased its stake in Lam Research by 54.7% in the fourth quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock valued at $3,190,000 after purchasing an additional 1,440 shares in the last quarter. Gradient Investments LLC boosted its position in shares of Lam Research by 32,411.1% during the 4th quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock worth $11,459,000 after purchasing an additional 14,585 shares in the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of Lam Research in the 4th quarter valued at about $7,930,000. Finally, Treasurer of the State of North Carolina raised its stake in Lam Research by 0.9% during the 3rd quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock worth $39,994,000 after buying an additional 560 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Insider Activity at Lam Research

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the sale, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction that occurred on 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 owns 10,541 shares in the company, valued at approximately $10,246,168.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock valued at $6,559,489 over the last ninety days. Insiders own 0.32% of the company’s stock.

Lam Research Stock Up 1.9 %

Shares of LRCX stock traded up $16.58 during mid-day trading on Thursday, reaching $901.47. 1,306,912 shares of the company’s stock traded hands, compared to its average volume of 1,071,518. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61. The company’s 50-day moving average price is $943.93 and its 200-day moving average price is $806.38. The company has a market cap of $118.18 billion, a P/E ratio of 35.20, a P/E/G ratio of 3.21 and a beta of 1.51. Lam Research Co. has a 12 month low of $493.42 and a 12 month high of $1,007.39.

Lam Research (NASDAQ:LRCX) last posted 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 return on equity of 44.47% and a net margin of 24.15%. The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the company earned $6.99 EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities analysts expect that Lam Research Co. will post 28.96 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s payout ratio is currently 30.94%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on LRCX shares. Needham & Company LLC restated a “buy” rating and issued a $1,030.00 target price on shares of Lam Research in a report on Thursday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Lam Research in a report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on shares of Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday. TD Cowen upped their target price on Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday. Finally, Stifel Nicolaus lifted their price target on Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus target price of $948.35.

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.