Pittenger & Anderson Inc. Sells 255 Shares of Lam Research Co. (NASDAQ:LRCX)

Pittenger & Anderson Inc. reduced its position in Lam Research Co. (NASDAQ:LRCXGet Rating) by 6.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,013 shares of the semiconductor company’s stock after selling 255 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Lam Research were worth $1,710,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Vectors Research Management LLC boosted its stake in Lam Research by 133.3% during the fourth quarter. Vectors Research Management LLC now owns 35 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 20 shares in the last quarter. Stonebridge Capital Advisors LLC boosted its stake in Lam Research by 100.0% during the fourth quarter. Stonebridge Capital Advisors LLC now owns 38 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 19 shares in the last quarter. Delos Wealth Advisors LLC bought a new position in Lam Research during the fourth quarter worth $30,000. Citizens National Bank Trust Department bought a new position in Lam Research during the fourth quarter worth $32,000. Finally, Capital Advisory Group Advisory Services LLC bought a new position in Lam Research during the first quarter worth $27,000. 80.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LRCX has been the topic of a number of recent research reports. Cowen dropped their price objective on shares of Lam Research from $800.00 to $620.00 in a research note on Thursday, July 28th. Barclays lowered shares of Lam Research from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $625.00 to $450.00 in a research note on Wednesday, August 3rd. B. Riley lowered shares of Lam Research from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $625.00 to $525.00 in a research note on Wednesday, June 15th. UBS Group raised their price objective on shares of Lam Research from $510.00 to $530.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Finally, Bank of America dropped their price objective on shares of Lam Research from $650.00 to $540.00 and set a “buy” rating on the stock in a research note on Wednesday, June 29th. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Lam Research currently has an average rating of “Hold” and an average price target of $610.30.

Lam Research Trading Down 3.0 %

Shares of Lam Research stock opened at $386.83 on Friday. Lam Research Co. has a 1 year low of $375.87 and a 1 year high of $731.85. The firm has a market cap of $52.99 billion, a PE ratio of 11.81, a PEG ratio of 0.91 and a beta of 1.36. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.69 and a quick ratio of 1.82. The company has a 50 day simple moving average of $460.60 and a two-hundred day simple moving average of $472.24.

Lam Research (NASDAQ:LRCXGet Rating) last announced its earnings results on Wednesday, July 27th. The semiconductor company reported $8.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.30 by $1.53. The business had revenue of $4.64 billion during the quarter, compared to analyst estimates of $4.21 billion. Lam Research had a net margin of 26.73% and a return on equity of 75.71%. Lam Research’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the business posted $8.09 earnings per share. Analysts expect that Lam Research Co. will post 37.31 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Wednesday, September 14th will be paid a dividend of $1.725 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This is an increase from Lam Research’s previous quarterly dividend of $1.50. This represents a $6.90 annualized dividend and a dividend yield of 1.78%. Lam Research’s dividend payout ratio (DPR) is 21.07%.

Lam Research Company Profile

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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