Lam Research Corporation (LRCX) Shares Bought by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. raised its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 137.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,075 shares of the semiconductor company’s stock after buying an additional 1,200 shares during the period. Pittenger & Anderson Inc.’s holdings in Lam Research Corporation were worth $293,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its position in shares of Lam Research Corporation by 2.7% during the first quarter. IFP Advisors Inc now owns 850 shares of the semiconductor company’s stock worth $109,000 after buying an additional 22 shares during the period. Stephens Inc. AR boosted its position in shares of Lam Research Corporation by 6.8% during the first quarter. Stephens Inc. AR now owns 849 shares of the semiconductor company’s stock worth $109,000 after buying an additional 54 shares during the period. BDO Wealth Advisors LLC purchased a new position in shares of Lam Research Corporation during the second quarter worth $118,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Lam Research Corporation during the second quarter worth $134,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in shares of Lam Research Corporation by 358.3% during the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,100 shares of the semiconductor company’s stock worth $156,000 after buying an additional 860 shares during the period. Institutional investors and hedge funds own 94.07% of the company’s stock.

In other news, SVP Sarah A. O’dowd sold 10,000 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $150.92, for a total transaction of $1,509,200.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Patrick J. Lord sold 2,770 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $155.35, for a total transaction of $430,319.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,609 shares of company stock valued at $4,918,116. 0.46% of the stock is currently owned by corporate insiders.

A number of research firms recently issued reports on LRCX. BidaskClub upgraded Lam Research Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Morgan Stanley reiterated an “overweight” rating and issued a $176.00 target price on shares of Lam Research Corporation in a report on Monday, August 14th. Citigroup Inc. reiterated a “buy” rating and issued a $200.00 target price on shares of Lam Research Corporation in a report on Wednesday, May 17th. Stifel Nicolaus reiterated a “buy” rating and issued a $189.00 target price (up from $170.00) on shares of Lam Research Corporation in a report on Monday, June 19th. Finally, DA Davidson reiterated a “buy” rating and issued a $175.00 target price on shares of Lam Research Corporation in a report on Wednesday, July 26th. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $175.18.

Shares of Lam Research Corporation (LRCX) opened at 165.75 on Friday. The firm has a market cap of $26.93 billion, a PE ratio of 17.94 and a beta of 1.47. Lam Research Corporation has a 52-week low of $89.80 and a 52-week high of $170.00. The stock’s 50 day moving average price is $160.30 and its 200-day moving average price is $145.64.

Lam Research Corporation (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.09. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.78%. The firm’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.80 EPS. On average, equities research analysts anticipate that Lam Research Corporation will post $12.73 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be given a $0.45 dividend. The ex-dividend date is Tuesday, September 12th. This represents a $1.80 dividend on an annualized basis and a yield of 1.09%. Lam Research Corporation’s payout ratio is currently 19.57%.

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About Lam Research Corporation

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.

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

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