2,431,841 Shares in Lam Research Co. (NASDAQ:LRCX) Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. bought a new stake in Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,431,841 shares of the semiconductor company’s stock, valued at approximately $175,652,000.

Several other large investors have also recently bought and sold shares of the stock. West Oak Capital LLC boosted its holdings in shares of Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 135 shares in the last quarter. Eagle Bay Advisors LLC raised its holdings in Lam Research by 484.2% during the fourth quarter. Eagle Bay Advisors LLC now owns 555 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 460 shares in the last quarter. Fortitude Family Office LLC lifted its position in Lam Research by 896.7% in the fourth quarter. Fortitude Family Office LLC now owns 598 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 538 shares during the period. Rosenberg Matthew Hamilton boosted its stake in Lam Research by 900.0% during the 4th quarter. Rosenberg Matthew Hamilton now owns 620 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 558 shares in the last quarter. Finally, Highline Wealth Partners LLC increased its position in shares of Lam Research by 879.7% during the 4th quarter. Highline Wealth Partners LLC now owns 676 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 607 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Up 0.8 %

Shares of Lam Research stock opened at $75.06 on Wednesday. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The company has a market cap of $96.58 billion, a P/E ratio of 24.26, a P/E/G ratio of 1.22 and a beta of 1.45. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average price of $74.70 and a 200 day moving average price of $81.22.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same period in the prior year, the firm earned $6.85 earnings per share. The firm’s revenue was up 19.7% compared to the same quarter last year. As a group, analysts expect that Lam Research Co. will post 3.5 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.77%.

Analyst Ratings Changes

Several brokerages have recently weighed in on LRCX. Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. Morgan Stanley upped their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Wells Fargo & Company reduced 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 research report on Monday. B. Riley dropped their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, BNP Paribas upgraded shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.