Assenagon Asset Management S.A. Has $63.10 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

Assenagon Asset Management S.A. cut its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 64.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 868,002 shares of the semiconductor company's stock after selling 1,563,839 shares during the period. Assenagon Asset Management S.A. owned about 0.07% of Lam Research worth $63,104,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Legacy Wealth Asset Management LLC boosted its stake in shares of Lam Research by 1.9% during the first quarter. Legacy Wealth Asset Management LLC now owns 13,243 shares of the semiconductor company's stock worth $963,000 after buying an additional 248 shares during the period. Walker Asset Management LLC raised its holdings in Lam Research by 7.8% during the first quarter. Walker Asset Management LLC now owns 3,862 shares of the semiconductor company's stock worth $281,000 after purchasing an additional 281 shares in the last quarter. Paladin Wealth LLC increased its holdings in Lam Research by 4.0% in the first quarter. Paladin Wealth LLC now owns 7,489 shares of the semiconductor company's stock valued at $544,000 after buying an additional 289 shares in the last quarter. Fairway Wealth LLC increased its holdings in Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after buying an additional 306 shares in the last quarter. Finally, Financial Perspectives Inc increased its holdings in Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after buying an additional 309 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LRCX. Argus raised shares of Lam Research to a "strong-buy" rating in a report on Friday, April 25th. Stifel Nicolaus decreased their target price on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Wells Fargo & Company decreased their target price on shares of Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Oppenheimer decreased their target price on shares of Lam Research from $95.00 to $80.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Finally, Morgan Stanley lifted their price target on shares of Lam Research from $81.00 to $82.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Lam Research has a consensus rating of "Moderate Buy" and an average target price of $90.87.

Lam Research Price Performance

LRCX stock traded down $2.14 on Friday, hitting $89.52. 10,977,636 shares of the company's stock traded hands, compared to its average volume of 12,305,432. Lam Research Co. has a 1-year low of $56.32 and a 1-year high of $113.00. The stock has a market cap of $114.51 billion, a price-to-earnings ratio of 27.19, a P/E/G ratio of 1.47 and a beta of 1.65. The stock has a fifty day moving average of $77.13 and a 200-day moving average of $77.01. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The business had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period in the prior year, the business earned $7.79 earnings per share. The business's quarterly revenue was up 24.4% on a year-over-year basis. On average, analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.03%. Lam Research's dividend payout ratio is currently 25.63%.

About Lam Research

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.