PFG Advisors Grows Stock Position in Lam Research Co. (NASDAQ:LRCX)

PFG Advisors raised its stake in shares of Lam Research Co. (NASDAQ:LRCXGet Rating) by 2.8% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 2,818 shares of the semiconductor company’s stock after buying an additional 78 shares during the period. PFG Advisors’ holdings in Lam Research were worth $1,201,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Synovus Financial Corp grew its position in shares of Lam Research by 0.6% during the 4th quarter. Synovus Financial Corp now owns 2,948 shares of the semiconductor company’s stock valued at $2,116,000 after acquiring an additional 17 shares during the period. Stonebridge Capital Advisors LLC grew its position in shares of Lam Research by 100.0% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 38 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 19 shares during the period. Marietta Investment Partners LLC grew its position in shares of Lam Research by 0.7% during the 4th quarter. Marietta Investment Partners LLC now owns 3,003 shares of the semiconductor company’s stock valued at $2,160,000 after acquiring an additional 20 shares during the period. Vectors Research Management LLC grew its position in shares of Lam Research by 133.3% during the 4th quarter. Vectors Research Management LLC now owns 35 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 20 shares during the period. Finally, Glassman Wealth Services grew its position in shares of Lam Research by 23.6% during the 4th quarter. Glassman Wealth Services now owns 110 shares of the semiconductor company’s stock valued at $79,000 after acquiring an additional 21 shares during the period. Hedge funds and other institutional investors own 80.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Cowen dropped their target price on Lam Research from $800.00 to $620.00 in a research report on Thursday, July 28th. StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a report on Friday, September 2nd. Bank of America lowered their price objective on Lam Research from $650.00 to $540.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. Citigroup lowered their price objective on Lam Research from $720.00 to $700.00 in a report on Thursday, July 28th. Finally, Wells Fargo & Company boosted their target price on Lam Research from $460.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, July 28th. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $610.30.

Lam Research Stock Down 1.2 %

LRCX stock opened at $398.65 on Thursday. The firm has a market cap of $54.61 billion, a PE ratio of 12.17, a PEG ratio of 0.92 and a beta of 1.36. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.82 and a current ratio of 2.69. The firm’s 50 day moving average price is $461.25 and its 200-day moving average price is $472.95. Lam Research Co. has a one year low of $375.87 and a one year high of $731.85.

Lam Research (NASDAQ:LRCXGet Rating) last released its quarterly earnings results on Wednesday, July 27th. The semiconductor company reported $8.83 EPS for the quarter, beating the consensus estimate of $7.30 by $1.53. The firm had revenue of $4.64 billion for 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%. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $8.09 EPS. On average, equities research analysts anticipate that Lam Research Co. will post 37.31 EPS for the current year.

Lam Research Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Wednesday, September 14th will be given a $1.725 dividend. This is a positive change from Lam Research’s previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, September 13th. This represents a $6.90 dividend on an annualized basis and a yield of 1.73%. Lam Research’s payout ratio is presently 21.07%.

About Lam Research

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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

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

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