Congress Asset Management Co. Purchases 3,389 Shares of Lam Research Co. (NASDAQ:LRCX)

Congress Asset Management Co. increased its position in Lam Research Co. (NASDAQ:LRCX) by 903.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,764 shares of the semiconductor company’s stock after purchasing an additional 3,389 shares during the period. Congress Asset Management Co.’s holdings in Lam Research were worth $272,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Salomon & Ludwin LLC grew its holdings in shares of Lam Research by 900.0% during the fourth quarter. Salomon & Ludwin LLC now owns 15,870 shares of the semiconductor company’s stock valued at $1,146,000 after buying an additional 14,283 shares during the last quarter. Roxbury Financial LLC bought a new stake in Lam Research during the 4th quarter worth approximately $38,000. Manchester Capital Management LLC raised its stake in shares of Lam Research by 1,000.4% in the fourth quarter. Manchester Capital Management LLC now owns 5,623 shares of the semiconductor company’s stock worth $406,000 after purchasing an additional 5,112 shares during the last quarter. Empire Life Investments Inc. lifted its holdings in shares of Lam Research by 917.6% in the fourth quarter. Empire Life Investments Inc. now owns 282,544 shares of the semiconductor company’s stock valued at $20,408,000 after purchasing an additional 254,777 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Lam Research by 875.7% during the fourth quarter. Rhumbline Advisers now owns 2,538,109 shares of the semiconductor company’s stock valued at $183,327,000 after buying an additional 2,277,989 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Morgan Stanley raised their price objective on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. The Goldman Sachs Group decreased their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and upped their target price for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Finally, B. Riley dropped their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $95.72.

Lam Research Trading Up 4.6 %

NASDAQ:LRCX opened at $86.52 on Wednesday. The company has a market cap of $111.06 billion, a P/E ratio of 26.28, a P/E/G ratio of 1.37 and a beta of 1.46. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The stock’s fifty day moving average price is $77.58 and its two-hundred day moving average price is $77.79.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping 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, analysts expect that Lam Research Co. will post 3.69 EPS for the current year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.06%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is presently 27.96%.

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.