Mattson Financial Services LLC Purchases New Stake in Lam Research Co. (NASDAQ:LRCX)

Mattson Financial Services LLC purchased a new position in Lam Research Co. (NASDAQ:LRCX) during the second quarter, HoldingsChannel.com reports. The fund purchased 2,221 shares of the semiconductor company’s stock, valued at approximately $2,365,000.

A number of other hedge funds have also recently modified their holdings of LRCX. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Lam Research during the second quarter valued at approximately $32,000. RFP Financial Group LLC boosted its holdings in Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 12 shares in the last quarter. Raleigh Capital Management Inc. increased its position in Lam Research by 78.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 22 shares during the period. Hobbs Group Advisors LLC bought a new position in Lam Research in the 2nd quarter worth $40,000. Finally, Country Trust Bank purchased a new stake in shares of Lam Research in the 2nd quarter worth about $43,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Up 2.1 %

LRCX stock opened at $814.09 on Thursday. The company has a market capitalization of $106.43 billion, a P/E ratio of 29.94, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48. The firm’s fifty day simple moving average is $95.60 and its 200-day simple moving average is $96.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. Lam Research Co. has a 12 month low of $574.42 and a 12 month high of $1,130.00.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.05. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the prior year, the company posted $0.60 EPS. The business’s quarterly revenue was up 20.7% on a year-over-year basis. As a group, equities research analysts forecast that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were given a $0.23 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a yield of 0.11%. Lam Research’s dividend payout ratio is currently 33.84%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Barclays boosted their price target on shares of Lam Research from $86.50 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. Mizuho dropped their price target on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Citigroup decreased their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. Wells Fargo & Company dropped their target price on shares of Lam Research from $110.00 to $100.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Finally, Morgan Stanley reduced their target price on shares of Lam Research from $92.90 to $77.40 and set an “equal weight” rating on the stock in a research report on Tuesday, September 17th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and an average price target of $100.23.

Insider Activity at Lam Research

In other news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Neil J. Fernandes sold 16,200 shares of Lam Research stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $105.70, for a total transaction of $1,712,323.80. Following the completion of the sale, the senior vice president now directly owns 52,370 shares in the company, valued at approximately $5,535,456.63. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Christina Correia sold 647 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.

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.