Tairen Capital Ltd Grows Position in Lam Research Co. (NASDAQ:LRCX)

Tairen Capital Ltd grew its stake in Lam Research Co. (NASDAQ:LRCX) by 199.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 163,605 shares of the semiconductor company’s stock after purchasing an additional 108,973 shares during the quarter. Lam Research comprises 6.3% of Tairen Capital Ltd’s holdings, making the stock its 6th biggest position. Tairen Capital Ltd’s holdings in Lam Research were worth $174,215,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. DSM Capital Partners LLC bought a new stake in Lam Research in the fourth quarter worth $28,000. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Lam Research in the second quarter worth $32,000. RFP Financial Group LLC raised its stake in shares of Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares during the last quarter. Raleigh Capital Management Inc. raised its stake in shares of Lam Research by 78.6% in the fourth quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 22 shares during the last quarter. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Lam Research in the second quarter worth $40,000. 84.61% of the stock is owned by institutional investors.

Insider Activity at Lam Research

In related news, SVP Neil J. Fernandes sold 4,409 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the completion of the transaction, the senior vice president now directly owns 6,857 shares of the company’s stock, valued at $7,239,346.32. The sale was disclosed in a filing with the SEC, which is available through this link. In other Lam Research news, SVP Neil J. Fernandes sold 4,409 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the sale, the senior vice president now directly owns 6,857 shares in the company, valued at $7,239,346.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Timothy Archer sold 9,650 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the sale, the chief executive officer now owns 84,639 shares in the company, valued at $90,596,739.21. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,326 shares of company stock valued at $17,383,715. Insiders own 0.32% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX opened at $773.19 on Monday. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The business has a 50-day simple moving average of $836.41 and a two-hundred day simple moving average of $925.14. The stock has a market cap of $101.09 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 1.48 and a beta of 1.48. Lam Research Co. has a 52 week low of $574.42 and a 52 week high of $1,130.00.

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

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, topping analysts’ consensus estimates of $7.58 by $0.56. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.98 earnings per share. On average, analysts expect that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be paid a dividend of $2.30 per share. The ex-dividend date is Tuesday, September 17th. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 dividend on an annualized basis and a yield of 1.19%. Lam Research’s dividend payout ratio is presently 33.84%.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $1,130.00 price target on shares of Lam Research in a research note on Thursday, August 1st. Wells Fargo & Company decreased their price target on Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Citigroup decreased their price target on Lam Research from $990.00 to $893.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Mizuho decreased their price target on Lam Research from $1,050.00 to $950.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Lam Research from $1,100.00 to $950.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Lam Research has an average rating of “Moderate Buy” and an average target price of $1,012.84.

About Lam Research

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.