Matisse Capital Has $2.98 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Matisse Capital increased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 13.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,580 shares of the semiconductor company’s stock after acquiring an additional 550 shares during the quarter. Matisse Capital’s holdings in Lam Research were worth $2,980,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Gemmer Asset Management LLC lifted its stake in shares of Lam Research by 39.0% during the second quarter. Gemmer Asset Management LLC now owns 57 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 16 shares during the period. Connable Office Inc. increased its holdings in Lam Research by 0.5% in the second quarter. Connable Office Inc. now owns 3,410 shares of the semiconductor company’s stock valued at $2,219,000 after purchasing an additional 16 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in Lam Research by 0.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,996 shares of the semiconductor company’s stock valued at $3,250,000 after purchasing an additional 16 shares during the last quarter. Clarius Group LLC increased its holdings in Lam Research by 1.3% in the second quarter. Clarius Group LLC now owns 1,372 shares of the semiconductor company’s stock valued at $893,000 after purchasing an additional 17 shares during the last quarter. Finally, Resources Management Corp CT ADV increased its holdings in Lam Research by 0.6% in the second quarter. Resources Management Corp CT ADV now owns 2,818 shares of the semiconductor company’s stock valued at $1,834,000 after purchasing an additional 17 shares during the last quarter. 81.32% of the stock is currently owned by institutional investors and hedge funds.

In other Lam Research news, CEO Timothy Archer sold 4,464 shares of the firm’s stock in a transaction on Friday, August 27th. The stock was sold at an average price of $600.00, for a total transaction of $2,678,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Scott Gerald Meikle sold 500 shares of the firm’s stock in a transaction on Wednesday, September 15th. The stock was sold at an average price of $603.79, for a total value of $301,895.00. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

Shares of NASDAQ LRCX traded down $26.05 during trading hours on Monday, reaching $582.93. 35,180 shares of the stock were exchanged, compared to its average volume of 1,449,102. The firm has a market capitalization of $82.75 billion, a price-to-earnings ratio of 22.08, a P/E/G ratio of 1.05 and a beta of 1.24. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.54 and a current ratio of 3.30. Lam Research Co. has a 52 week low of $300.70 and a 52 week high of $673.80. The stock’s fifty day simple moving average is $609.65 and its 200 day simple moving average is $611.53.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, July 28th. The semiconductor company reported $8.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $7.53 by $0.56. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4 billion. Lam Research had a return on equity of 70.92% and a net margin of 26.72%. During the same quarter last year, the company earned $4.78 earnings per share. Research analysts predict that Lam Research Co. will post 33.45 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 13th. Stockholders of record on Tuesday, September 28th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, September 27th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.03%. This is a positive change from Lam Research’s previous quarterly dividend of $1.30. Lam Research’s dividend payout ratio (DPR) is 19.09%.

A number of equities research analysts recently commented on LRCX shares. Mizuho upped their price objective on Lam Research from $705.00 to $725.00 and gave the company a “buy” rating in a report on Thursday, July 29th. UBS Group upped their price objective on Lam Research from $745.00 to $750.00 and gave the company a “buy” rating in a report on Thursday, July 29th. Stifel Nicolaus restated a “buy” rating and issued a $790.00 price target on shares of Lam Research in a report on Friday, September 10th. Susquehanna downgraded Lam Research from a “positive” rating to a “neutral” rating and lowered their price target for the stock from $750.00 to $690.00 in a report on Tuesday, September 14th. Finally, BNP Paribas downgraded Lam Research from an “outperform” rating to a “neutral” rating and set a $640.00 price target for the company. in a report on Tuesday, September 7th. Nine equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $704.35.

Lam Research Company Profile

Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.

Further Reading: Understanding Market Liquidity

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

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