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

Congress Asset Management Co. raised its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 903.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,764 shares of the semiconductor company’s stock after purchasing an additional 3,389 shares during the quarter. Congress Asset Management Co.’s holdings in Lam Research were worth $272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Atwood & Palmer Inc. purchased a new position in Lam Research in the fourth quarter worth $27,000. West Oak Capital LLC boosted its holdings in shares of Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 135 shares in the last quarter. Country Trust Bank increased its position in shares of Lam Research by 900.0% during the 4th quarter. Country Trust Bank now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 360 shares during the last quarter. Finley Financial LLC purchased a new position in shares of Lam Research during the 4th quarter valued at about $30,000. Finally, Stephens Consulting LLC lifted its position in Lam Research by 900.0% in the 4th quarter. Stephens Consulting LLC now owns 430 shares of the semiconductor company’s stock worth $31,000 after buying an additional 387 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX opened at $86.52 on Wednesday. The company has a 50-day simple moving average of $77.58 and a two-hundred day simple moving average of $77.79. 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 firm has a market capitalization of $111.06 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. On average, analysts anticipate that Lam Research Co. will post 3.69 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm 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 dividend yield of 1.06%. Lam Research’s payout ratio is 27.96%.

Wall Street Analyst Weigh In

Several research firms have commented on LRCX. Stifel Nicolaus reissued a “buy” rating and set a $100.00 price target (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Mizuho decreased their target price on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Barclays cut their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Finally, The Goldman Sachs Group dropped their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and a consensus target price of $95.72.

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.