Napean Trading & Investment Co Singapore PTE Ltd Acquires 400 Shares of Lam Research Co. (NASDAQ:LRCX)

Napean Trading & Investment Co Singapore PTE Ltd lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 2.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,862 shares of the semiconductor company’s stock after buying an additional 400 shares during the quarter. Lam Research comprises approximately 5.0% of Napean Trading & Investment Co Singapore PTE Ltd’s investment portfolio, making the stock its 3rd largest holding. Napean Trading & Investment Co Singapore PTE Ltd’s holdings in Lam Research were worth $21,150,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Gryphon Financial Partners LLC bought a new position in Lam Research in the fourth quarter worth approximately $476,000. Principal Securities Inc. bought a new position in Lam Research in the fourth quarter worth approximately $1,113,000. Dana Investment Advisors Inc. boosted its holdings in Lam Research by 3.9% in the fourth quarter. Dana Investment Advisors Inc. now owns 4,072 shares of the semiconductor company’s stock worth $3,189,000 after acquiring an additional 151 shares in the last quarter. JFS Wealth Advisors LLC boosted its holdings in Lam Research by 119.6% in the fourth quarter. JFS Wealth Advisors LLC now owns 123 shares of the semiconductor company’s stock worth $96,000 after acquiring an additional 67 shares in the last quarter. Finally, Qsemble Capital Management LP bought a new position in Lam Research in the fourth quarter worth approximately $371,000. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the topic of several recent research reports. Wells Fargo & Company cut their price target on Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. B. Riley raised their target price on Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Deutsche Bank Aktiengesellschaft dropped their target price on Lam Research from $1,100.00 to $950.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Jefferies Financial Group initiated coverage on Lam Research in a report on Monday, May 13th. They issued a “buy” rating and a $1,100.00 target price on the stock. Finally, Barclays raised their target price on Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and an average target price of $1,006.10.

Insiders Place Their Bets

In other news, SVP Neil J. Fernandes sold 1,620 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the completion of the transaction, the senior vice president now directly owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total value of $687,282.22. Following the completion of the transaction, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at $5,219,945.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Neil J. Fernandes sold 1,620 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the completion of the transaction, the senior vice president now directly owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The disclosure for this sale can be found here. Insiders sold 16,326 shares of company stock valued at $17,383,715 over the last ninety days. 0.32% of the stock is currently owned by insiders.

Lam Research Stock Performance

NASDAQ:LRCX opened at $733.83 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The business has a fifty day simple moving average of $901.71 and a two-hundred day simple moving average of $938.36. Lam Research Co. has a 1 year low of $574.42 and a 1 year high of $1,130.00. The company has a market capitalization of $95.94 billion, a P/E ratio of 26.99, a P/E/G ratio of 1.58 and a beta of 1.48.

Shares of Lam Research are set to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be issued to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.58 by $0.56. 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 last year, the business posted $5.98 earnings per share. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, analysts expect that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be given a $2.30 dividend. This is an increase from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is currently 33.84%.

Lam Research announced that its board has initiated a stock buyback plan on Tuesday, May 21st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to buy up to 8.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

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.