Matisse Capital Invests $2.50 Million in Lam Research Co. (NASDAQ:LRCX)
Matisse Capital has invested $2.50 million in Lam Research Co. (NASDAQ:LRCX), acquiring 34,670 shares in the 4th quarter. This investment represents 1.3% of Matisse Capital's holdings, making Lam Research its 23rd largest position. Other institutional investors have also increased their stakes in Lam Research, which has a market cap of $103.18 billion and a current stock price of $80.19. The company recently announced a quarterly dividend of $0.23 per share and has received various ratings from analysts, with a consensus price target of $95.72.
Matisse Capital acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,670 shares of the semiconductor company's stock, valued at approximately $2,504,000. Lam Research accounts for approximately 1.3% of Matisse Capital's holdings, making the stock its 23rd biggest holding.
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Several other institutional investors have also recently added to or reduced their stakes in the business. Van ECK Associates Corp increased its position in shares of Lam Research by 1,394.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company's stock valued at $13,123,440,000 after purchasing an additional 15,005,178 shares during the last quarter. State Street Corp lifted its stake in Lam Research by 1.6% in the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company's stock worth $4,817,113,000 after purchasing an additional 94,086 shares during the last quarter. Geode Capital Management LLC increased its stake in Lam Research by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company's stock worth $2,539,413,000 after purchasing an additional 64,053 shares during the period. Swedbank AB boosted its holdings in shares of Lam Research by 1,488.8% during the fourth quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company's stock worth $221,674,000 after purchasing an additional 2,875,843 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Lam Research during the 4th quarter valued at about $175,652,000. 84.61% of the stock is owned by institutional investors and hedge funds.
Lam Research Stock Down 1.1 %
Shares of LRCX opened at $80.19 on Tuesday. The firm has a market cap of $103.18 billion, a P/E ratio of 24.36, a PEG ratio of 1.34 and a beta of 1.46. The stock's 50 day moving average is $76.05 and its two-hundred day moving average is $78.56. 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 Co. has a 12 month low of $68.87 and a 12 month high of $113.00.
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Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Analysts predict that Lam Research Co. will post 3.69 earnings per share for the current fiscal year.
Lam Research Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Wednesday, December 11th. Lam Research's dividend payout ratio (DPR) is presently 27.95%.
Wall Street Analysts Forecast Growth
- Lam Research Fueled by Unyielding AI Demand Growth
Several equities analysts have recently issued reports on LRCX shares. Stifel Nicolaus reiterated a "buy" rating and set a $100.00 target price (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. The Goldman Sachs Group cut their price target on Lam Research from $96.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, January 10th. B. Riley lowered their target price on Lam Research from $132.50 to $105.00 and set a "buy" rating for the company in a research report on Wednesday, October 23rd. Needham & Company LLC restated a "buy" rating and issued a $90.00 target price on shares of Lam Research in a report on Thursday, January 30th. Finally, Barclays reduced their target price on shares of Lam Research from $90.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $95.72.
Read Our Latest Stock Report on Lam Research
About Lam Research
(Free Report)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.
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