Pittenger & Anderson Inc. Has $4.15 Million Stake in Lam Research Co. (NASDAQ:LRCX)

Pittenger & Anderson Inc. grew its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 773.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 57,391 shares of the semiconductor company’s stock after acquiring an additional 50,823 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Lam Research were worth $4,145,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parisi Gray Wealth Management boosted its holdings in Lam Research by 652.9% during the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after buying an additional 7,241 shares during the last quarter. Burns J W & Co. Inc. NY bought a new position in Lam Research during the fourth quarter worth about $815,000. Jennison Associates LLC lifted its holdings in shares of Lam Research by 20.0% during the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after purchasing an additional 39,725 shares in the last quarter. Creative Planning lifted its holdings in shares of Lam Research by 2.5% during the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after purchasing an additional 1,146 shares in the last quarter. Finally, Vest Financial LLC lifted its holdings in shares of Lam Research by 68.7% during the 3rd quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock valued at $29,372,000 after purchasing an additional 14,658 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. Mizuho cut their price objective on Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Wells Fargo & Company lifted their target price on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. BNP Paribas raised Lam Research to a “hold” rating in a research report on Thursday, October 24th. Barclays dropped their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.72.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $82.75 on Monday. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The stock has a 50 day moving average of $77.48 and a 200-day moving average of $77.86. The company has a market capitalization of $106.22 billion, a P/E ratio of 25.14, a P/E/G ratio of 1.37 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, equities research analysts predict that Lam Research Co. will post 3.69 EPS for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.11%. Lam Research’s dividend payout ratio (DPR) is presently 27.95%.

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.