Matisse Capital Lowers Stock Holdings in Lam Research Corporation $LRCX

Key Points

• Matisse Capital cut its Lam Research stake by 24.2% in Q4, selling 5,993 shares and leaving 18,737 shares worth about $3.21 million, making LRCX its 23rd-largest position (1.4% of the fund).
• Lam Research beat Q3 expectations (EPS $1.47 vs. $1.36, revenue $5.84B vs. $5.70B) and issued strong FY guidance tied to AI-driven chip demand, prompting widespread analyst price-target upgrades and buy/outperform reiterations.
• Significant insider selling occurred recently — CFO Douglas Bettinger sold 50,057 shares for roughly $11.2 million, and insiders have sold 130,886 shares (~$29.66 million) over the past 90 days, while insiders still own about 0.31% of the stock.

Matisse Capital lowered its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 24.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,737 shares of the semiconductor company's stock after selling 5,993 shares during the quarter. Lam Research makes up 1.4% of Matisse Capital's holdings, making the stock its 23rd largest position. Matisse Capital's holdings in Lam Research were worth $3,207,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. PMV Capital Advisers LLC purchased a new position in Lam Research during the fourth quarter worth approximately $25,000. Stance Capital LLC acquired a new position in shares of Lam Research during the third quarter valued at approximately $26,000. Triumph Capital Management acquired a new position in shares of Lam Research during the third quarter valued at approximately $27,000. Harbor Investment Advisory LLC raised its holdings in shares of Lam Research by 73.9% during the fourth quarter. Harbor Investment Advisory LLC now owns 240 shares of the semiconductor company's stock valued at $41,000 after acquiring an additional 102 shares during the last quarter. Finally, WealthCollab LLC raised its holdings in shares of Lam Research by 29.3% during the fourth quarter. WealthCollab LLC now owns 243 shares of the semiconductor company's stock valued at $42,000 after acquiring an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

More Lam Research News

Here are the key news stories impacting Lam Research this week:

• Positive Sentiment: Q3 results beat expectations (EPS $1.47, revenue $5.84B) and management gave strong FY guidance tied to AI demand — investors view this as confirmation of a multi-year WFE upcycle. Earnings & press coverage
• Positive Sentiment: Major analysts have lifted price targets across the board (examples: TD Cowen $340, Susquehanna $385, JPMorgan $315, BofA $330), signaling upgraded revenue and margin forecasts driven by AI memory and logic chip spending. Analyst target upgrades
• Positive Sentiment: Several bank research notes reiterated buy/outperform ratings and sizable upside, reinforcing momentum and prompting institutional buyers to add exposure. Deutsche Bank price target raise
• Neutral Sentiment: Broad market action (Dow slip while Nasdaq gains) and strong moves in other chip names (Intel, AMD, Arm) contributed to sector flow into semiconductor-equipment names including LRCX. Market breadth coverage
• Neutral Sentiment: Not all firms moved to buy: a few kept neutral/equal-weight stances (e.g., Morgan Stanley, BNP Paribas), showing some analysts want to see more cycles of delivery before upgrading conviction. Morgan Stanley note
• Negative Sentiment: Valuation concerns: commentary and analysis warn the stock reflects a lot of AI upside already — some investors may view multiple and momentum as stretched, which could amplify pullbacks on any growth-slow surprises. Valuation caution analysis

Lam Research Price Performance

NASDAQ:LRCX opened at $267.78 on Friday. Lam Research Corporation has a one year low of $68.53 and a one year high of $275.84. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.61 and a current ratio of 2.54. The stock has a market cap of $334.40 billion, a PE ratio of 50.52, a P/E/G ratio of 2.69 and a beta of 1.78. The stock has a 50 day moving average price of $234.99 and a 200 day moving average price of $198.24.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.36 by $0.11. Lam Research had a return on equity of 66.21% and a net margin of 30.94%.The firm had revenue of $5.84 billion during the quarter, compared to analysts' expectations of $5.70 billion. During the same quarter last year, the firm earned $1.04 earnings per share. The business's revenue for the quarter was up 23.8% on a year-over-year basis. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. Equities research analysts expect that Lam Research Corporation will post 5.43 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 8th. Investors of record on Wednesday, March 4th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, March 4th. Lam Research's dividend payout ratio (DPR) is currently 19.62%.

Analysts Set New Price Targets

A number of brokerages have commented on LRCX. TD Cowen increased their target price on Lam Research from $290.00 to $340.00 and gave the company a "buy" rating in a report on Thursday. Evercore increased their target price on Lam Research from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Thursday. Morgan Stanley upped their target price on shares of Lam Research from $260.00 to $293.00 and gave the stock an "equal weight" rating in a report on Thursday. Bank of America upped their target price on shares of Lam Research from $285.00 to $330.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $320.00 target price on shares of Lam Research in a report on Thursday. Twenty-six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $284.49.

Insider Activity at Lam Research

In related news, CFO Douglas R. Bettinger sold 50,057 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $224.03, for a total value of $11,214,269.71. Following the completion of the sale, the chief financial officer owned 1,081,705 shares of the company's stock, valued at approximately $242,334,371.15. This trade represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ava Harter sold 1,500 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $222.66, for a total value of $333,990.00. Following the completion of the sale, the insider directly owned 53,205 shares of the company's stock, valued at approximately $11,846,625.30. This represents a 2.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 130,886 shares of company stock valued at $29,658,802. 0.31% of the stock is currently owned by insiders.

Lam Research Company Profile

Lam Research Corporation NASDAQ: LRCX is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.

Lam's product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.

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