Assenagon Asset Management S.A. Buys New Position in Lam Research Co. (NASDAQ:LRCX)

Assenagon Asset Management S.A. purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,431,841 shares of the semiconductor company’s stock, valued at approximately $175,652,000. Assenagon Asset Management S.A. owned approximately 0.19% of Lam Research as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. West Oak Capital LLC lifted its position in shares of Lam Research by 50.9% during the fourth 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. Eagle Bay Advisors LLC increased its stake in Lam Research by 484.2% during the 4th quarter. Eagle Bay Advisors LLC now owns 555 shares of the semiconductor company’s stock worth $40,000 after buying an additional 460 shares during the period. Fortitude Family Office LLC lifted its holdings in Lam Research by 896.7% in the 4th quarter. Fortitude Family Office LLC now owns 598 shares of the semiconductor company’s stock worth $43,000 after buying an additional 538 shares in the last quarter. Rosenberg Matthew Hamilton boosted its position in Lam Research by 900.0% in the 4th quarter. Rosenberg Matthew Hamilton now owns 620 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 558 shares during the last quarter. Finally, Highline Wealth Partners LLC grew its stake in shares of Lam Research by 879.7% during the fourth quarter. Highline Wealth Partners LLC now owns 676 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 607 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

LRCX stock opened at $75.06 on Wednesday. The stock’s fifty day moving average is $74.70 and its two-hundred day moving average is $81.22. The stock has a market capitalization of $96.58 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 1.22 and a beta of 1.45. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same period last year, the firm posted $6.85 EPS. Lam Research’s quarterly revenue was up 19.7% compared to the same quarter last year. On average, research analysts predict that Lam Research Co. will post 3.5 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is 29.77%.

Analyst Ratings Changes

A number of research analysts recently commented on LRCX shares. Sanford C. Bernstein reduced their price target on Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a report on Friday, November 29th. B. Riley reduced their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Morgan Stanley increased their price objective on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company decreased their price objective on shares of Lam Research from $83.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.59.

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.