Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE increased its position in Lam Research Co. (NASDAQ:LRCX) by 1,079.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,675 shares of the semiconductor company’s stock after purchasing an additional 9,770 shares during the period. Congress Wealth Management LLC DE’s holdings in Lam Research were worth $771,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Lam Research by 892.7% in the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock valued at $8,724,498,000 after acquiring an additional 108,619,564 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Lam Research by 892.7% during the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock valued at $1,341,902,000 after buying an additional 16,706,708 shares during the last quarter. Amundi raised its stake in Lam Research by 7,601.9% during the fourth quarter. Amundi now owns 12,945,172 shares of the semiconductor company’s stock worth $990,464,000 after acquiring an additional 12,777,094 shares during the period. Bank of New York Mellon Corp lifted its holdings in Lam Research by 860.4% in the fourth quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock worth $851,361,000 after acquiring an additional 10,559,508 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Lam Research by 931.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,482,429 shares of the semiconductor company’s stock valued at $612,686,000 after acquiring an additional 7,659,830 shares during the period. 84.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on LRCX shares. Mizuho raised their price target on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a research note on Friday, January 17th. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and upped their price target for the stock from $75.00 to $125.00 in a research report on Thursday, February 20th. Wells Fargo & Company lifted their price objective on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Finally, Oppenheimer started coverage on shares of Lam Research in a research note on Thursday, March 20th. They set an “outperform” rating and a $95.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $98.06.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the transaction, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.29% of the stock is owned by insiders.

Lam Research Stock Performance

NASDAQ:LRCX opened at $74.81 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average of $79.66 and a 200-day moving average of $77.32. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The firm has a market cap of $96.03 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.23%. 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.