Pinnacle Bancorp Inc. Acquires 849 Shares of Lam Research Co. (NASDAQ:LRCX)

Pinnacle Bancorp Inc. raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 7,718.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 860 shares of the semiconductor company’s stock after acquiring an additional 849 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Lam Research were worth $62,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in LRCX. Van ECK Associates Corp raised its stake in shares of Lam Research by 1,394.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after purchasing an additional 15,005,178 shares during the period. State Street Corp lifted its holdings in shares of Lam Research by 1.6% in the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock worth $4,817,113,000 after buying an additional 94,086 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Lam Research by 2.1% in the third quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock valued at $2,539,413,000 after acquiring an additional 64,053 shares during the period. Assenagon Asset Management S.A. purchased a new position in Lam Research during the fourth quarter valued at approximately $175,652,000. Finally, Fisher Asset Management LLC lifted its stake in Lam Research by 0.6% in the 3rd quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock worth $1,527,273,000 after purchasing an additional 11,093 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of recent analyst reports. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. B. Riley reduced their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday. Mizuho cut their price objective on Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Finally, Morgan Stanley raised their target price on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.59.

Lam Research Price Performance

Shares of Lam Research stock opened at $79.22 on Friday. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00. The stock has a market capitalization of $101.93 billion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 1.37 and a beta of 1.45. The business’s 50 day simple moving average is $74.68 and its two-hundred day simple moving average is $81.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. Lam Research’s revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.85 EPS. Analysts forecast that Lam Research Co. will post 3.51 EPS for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were given a $0.23 dividend. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.16%. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

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.