Pinnacle Wealth Management Advisory Group LLC Has $862,000 Position in Lam Research Co. (NASDAQ:LRCX)

Pinnacle Wealth Management Advisory Group LLC decreased its holdings in Lam Research Co. (NASDAQ:LRCX) by 1.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,100 shares of the semiconductor company’s stock after selling 19 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Lam Research were worth $862,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in LRCX. Valued Wealth Advisors LLC bought a new stake in shares of Lam Research in the 4th quarter worth about $30,000. Orion Capital Management LLC acquired a new stake in shares of Lam Research during the third quarter worth approximately $25,000. BluePath Capital Management LLC bought a new position in shares of Lam Research in the third quarter valued at approximately $28,000. Asset Dedication LLC boosted its holdings in shares of Lam Research by 56.7% in the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 17 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new stake in Lam Research during the 4th quarter worth approximately $38,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Trading Down 0.2 %

LRCX traded down $1.63 during mid-day trading on Wednesday, hitting $913.28. The stock had a trading volume of 553,936 shares, compared to its average volume of 1,053,578. Lam Research Co. has a 1-year low of $512.09 and a 1-year high of $1,007.39. The firm has a market capitalization of $119.40 billion, a price-to-earnings ratio of 33.59, a price-to-earnings-growth ratio of 2.82 and a beta of 1.51. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84. The stock’s fifty day simple moving average is $940.71 and its 200-day simple moving average is $824.74.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, topping the consensus estimate of $7.26 by $0.53. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the previous year, the company posted $6.99 earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, research analysts forecast that Lam Research Co. will post 29.62 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on LRCX shares. Evercore ISI began coverage on Lam Research in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 target price on the stock. Needham & Company LLC restated a “buy” rating and issued a $1,030.00 price objective on shares of Lam Research in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Lam Research in a research report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 target price on the stock. TD Cowen raised their price target on shares of Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Finally, Citigroup increased their price objective on Lam Research from $975.00 to $1,025.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $950.85.

Insider Buying and Selling

In other Lam Research news, insider George M. Schisler sold 400 shares of Lam Research stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $908.21, for a total value of $363,284.00. Following the transaction, the insider now owns 5,661 shares of the company’s stock, valued at $5,141,376.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Lam Research news, insider George M. Schisler sold 400 shares of Lam Research stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $908.21, for a total value of $363,284.00. Following the sale, the insider now owns 5,661 shares of the company’s stock, valued at approximately $5,141,376.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Patrick J. Lord sold 60 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $921.54, for a total value of $55,292.40. Following the transaction, the executive vice president now directly owns 4,454 shares of the company’s stock, valued at $4,104,539.16. The disclosure for this sale can be found here. In the last three months, insiders sold 7,489 shares of company stock valued at $6,978,065. 0.32% of the stock is owned by corporate insiders.

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.