Congress Wealth Management LLC DE Has $771,000 Holdings in Lam Research Co. (NASDAQ:LRCX)

Congress Wealth Management LLC DE grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 1,079.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 10,675 shares of the semiconductor company’s stock after acquiring an additional 9,770 shares during the period. Congress Wealth Management LLC DE’s holdings in Lam Research were worth $771,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Parisi Gray Wealth Management lifted its stake in Lam Research by 652.9% in the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock valued at $603,000 after acquiring an additional 7,241 shares during the last quarter. Burns J W & Co. Inc. NY bought a new stake in Lam Research in the fourth quarter worth $815,000. Centerpoint Advisors LLC increased its position in Lam Research by 900.0% during the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after buying an additional 900 shares during the last quarter. Worldquant Millennium Advisors LLC raised its holdings in Lam Research by 51.9% during the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock valued at $175,800,000 after buying an additional 73,648 shares in the last quarter. Finally, Benjamin Edwards Inc. lifted its position in shares of Lam Research by 4,085.9% in the third quarter. Benjamin Edwards Inc. now owns 13,395 shares of the semiconductor company’s stock worth $10,932,000 after buying an additional 13,075 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LRCX. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of Lam Research in a report on Thursday, January 30th. Wells Fargo & Company lifted their price target 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. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 target price on shares of Lam Research in a research report on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $98.06.

Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’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 completion of the sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

Lam Research Trading Down 1.7 %

Shares of LRCX stock opened at $74.81 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The firm has a fifty day moving average of $79.66 and a 200-day moving average of $77.32. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The stock has a market cap of $96.03 billion, a price-to-earnings ratio of 22.72, a P/E/G ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS 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%. On average, equities research analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business 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. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.23%. Lam Research’s dividend payout ratio is currently 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.