Matisse Capital Sells 5,500 Shares of Lam Research Corporation (NASDAQ:LRCX)

Matisse Capital trimmed its position in Lam Research Corporation (NASDAQ:LRCX) by 15.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,170 shares of the semiconductor company’s stock after selling 5,500 shares during the quarter. Lam Research comprises about 1.1% of Matisse Capital’s investment portfolio, making the stock its 25th biggest position. Matisse Capital’s holdings in Lam Research were worth $2,121,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Transcend Capital Advisors LLC increased its holdings in shares of Lam Research by 2.3% in the first quarter. Transcend Capital Advisors LLC now owns 8,065 shares of the semiconductor company’s stock worth $586,000 after purchasing an additional 182 shares during the last quarter. Field & Main Bank increased its stake in Lam Research by 9.0% during the first quarter. Field & Main Bank now owns 2,595 shares of the semiconductor company’s stock worth $189,000 after acquiring an additional 215 shares during the last quarter. Investment Partners Asset Management Inc. increased its stake in Lam Research by 5.4% during the first quarter. Investment Partners Asset Management Inc. now owns 4,373 shares of the semiconductor company’s stock worth $318,000 after acquiring an additional 226 shares during the last quarter. Childress Capital Advisors LLC increased its stake in Lam Research by 6.1% during the first quarter. Childress Capital Advisors LLC now owns 4,178 shares of the semiconductor company’s stock worth $304,000 after acquiring an additional 240 shares during the last quarter. Finally, Salem Investment Counselors Inc. increased its stake in Lam Research by 5.5% during the first quarter. Salem Investment Counselors Inc. now owns 4,716 shares of the semiconductor company’s stock worth $344,000 after acquiring an additional 246 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Up 0.4%

Lam Research stock opened at $97.20 on Friday. The business has a fifty day moving average of $82.59 and a two-hundred day moving average of $78.22. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39. The firm has a market cap of $124.33 billion, a P/E ratio of 27.09, a P/E/G ratio of 1.36 and a beta of 1.65. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. Lam Research’s revenue was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $7.79 earnings per share. On average, analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.95%. Lam Research’s dividend payout ratio is currently 25.63%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Bank of America reduced their price objective on Lam Research from $110.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. TD Securities reduced their price objective on Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Evercore ISI boosted their price objective on Lam Research from $95.00 to $99.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Needham & Company LLC reduced their price objective on Lam Research from $96.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Finally, Stifel Nicolaus reduced their price objective on Lam Research from $100.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and a consensus price target of $93.97.

Lam Research Company 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.