Assetmark Inc. reduced its position in Lam Research Corporation (NASDAQ:LRCX) by 7.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,924 shares of the semiconductor company’s stock after selling 462 shares during the period. Assetmark Inc.’s holdings in Lam Research Corporation were worth $761,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its stake in Lam Research Corporation by 0.3% in the first quarter. Quadrant Capital Group LLC now owns 1,332 shares of the semiconductor company’s stock valued at $168,000 after buying an additional 4 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Lam Research Corporation by 2.7% in the first quarter. IFP Advisors Inc now owns 850 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 22 shares during the period. Cleararc Capital Inc. raised its stake in shares of Lam Research Corporation by 1.6% in the fourth quarter. Cleararc Capital Inc. now owns 3,973 shares of the semiconductor company’s stock valued at $420,000 after buying an additional 61 shares during the period. Harber Asset Management LLC raised its stake in shares of Lam Research Corporation by 0.3% in the third quarter. Harber Asset Management LLC now owns 32,623 shares of the semiconductor company’s stock valued at $3,090,000 after buying an additional 97 shares during the period. Finally, Cim Investment Mangement Inc. raised its stake in shares of Lam Research Corporation by 1.2% in the fourth quarter. Cim Investment Mangement Inc. now owns 8,857 shares of the semiconductor company’s stock valued at $936,000 after buying an additional 104 shares during the period. 99.34% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Lam Research Corporation (NASDAQ:LRCX)

Shares of Lam Research Corporation (NASDAQ LRCX) traded down 0.18% on Friday, hitting $148.21. The stock had a trading volume of 4,113,402 shares. Lam Research Corporation has a 12 month low of $79.15 and a 12 month high of $167.05. The firm has a market cap of $23.91 billion, a P/E ratio of 18.83 and a beta of 1.39. The firm’s 50-day moving average price is $153.05 and its 200 day moving average price is $126.60.

Lam Research Corporation (NASDAQ:LRCX) last released its earnings results on Tuesday, April 18th. The semiconductor company reported $2.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.55 by $0.25. Lam Research Corporation had a net margin of 19.82% and a return on equity of 23.84%. The company had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the business earned $1.18 EPS. The business’s revenue was up 63.9% on a year-over-year basis. Analysts anticipate that Lam Research Corporation will post $9.88 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 28th. Stockholders of record on Wednesday, June 7th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Monday, June 5th. Lam Research Corporation’s dividend payout ratio (DPR) is presently 22.96%.

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A number of research firms have recently weighed in on LRCX. Bank of America Corporation reissued a “buy” rating and issued a $195.00 target price (up previously from $165.00) on shares of Lam Research Corporation in a research note on Sunday, June 11th. Deutsche Bank AG boosted their price target on Lam Research Corporation from $155.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, May 30th. BidaskClub downgraded Lam Research Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Citigroup Inc. reiterated a “buy” rating and set a $200.00 target price on shares of Lam Research Corporation in a report on Wednesday, May 17th. Finally, Goldman Sachs Group, Inc. (The) downgraded Lam Research Corporation from a “conviction-buy” rating to a “buy” rating and upped their target price for the stock from $153.00 to $160.00 in a report on Monday, May 8th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $148.88.

In related news, insider Patrick J. Lord sold 2,770 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $155.35, for a total value of $430,319.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Timothy Archer sold 4,223 shares of the firm’s stock in a transaction dated Thursday, March 23rd. The shares were sold at an average price of $125.25, for a total transaction of $528,930.75. The disclosure for this sale can be found here. Insiders sold 35,982 shares of company stock valued at $5,357,071 in the last quarter. Company insiders own 0.46% of the company’s stock.

About Lam Research Corporation

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.

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