Tairen Capital Ltd Has $174.22 Million Position in Lam Research Co. (NASDAQ:LRCX)

Tairen Capital Ltd lifted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 199.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 163,605 shares of the semiconductor company’s stock after acquiring an additional 108,973 shares during the quarter. Lam Research makes up 6.3% of Tairen Capital Ltd’s investment portfolio, making the stock its 6th largest position. Tairen Capital Ltd owned approximately 0.13% of Lam Research worth $174,215,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lombard Odier Asset Management Europe Ltd bought a new position in Lam Research in the 2nd quarter worth about $3,646,000. Evergreen Capital Management LLC boosted its stake in Lam Research by 12.3% in the 2nd quarter. Evergreen Capital Management LLC now owns 852 shares of the semiconductor company’s stock worth $909,000 after purchasing an additional 93 shares during the period. Public Sector Pension Investment Board boosted its stake in Lam Research by 76.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 4,990 shares of the semiconductor company’s stock worth $5,314,000 after purchasing an additional 2,159 shares during the period. Nippon Life Global Investors Americas Inc. boosted its stake in Lam Research by 4.9% in the 2nd quarter. Nippon Life Global Investors Americas Inc. now owns 25,110 shares of the semiconductor company’s stock worth $26,783,000 after purchasing an additional 1,170 shares during the period. Finally, DRW Securities LLC boosted its stake in Lam Research by 205.4% in the 2nd quarter. DRW Securities LLC now owns 791 shares of the semiconductor company’s stock worth $844,000 after purchasing an additional 532 shares during the period. Institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of Lam Research stock opened at $773.19 on Monday. 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’s 50 day simple moving average is $836.41 and its two-hundred day simple moving average is $925.14. The stock has a market capitalization of $101.09 billion, a P/E ratio of 28.44, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48. Lam Research Co. has a one year low of $574.42 and a one year high of $1,130.00.

Lam Research’s stock is set to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be distributed to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last issued 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 for 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 period last year, the company earned $5.98 EPS. Analysts forecast that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be given a $2.30 dividend. 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 dividend yield of 1.19%. The ex-dividend date of this dividend is Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is currently 33.84%.

Insider Transactions at Lam Research

In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 4,914 shares in the company, valued at approximately $5,219,945.64. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the sale, the chief accounting officer now directly owns 4,914 shares in the company, valued at $5,219,945.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy Archer sold 9,650 shares of Lam Research 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. In the last three months, insiders have sold 16,326 shares of company stock worth $17,383,715. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft dropped their price target 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. Citigroup dropped their price target on Lam Research from $990.00 to $893.00 and set a “buy” rating for the company in a research report on Monday, September 16th. UBS Group dropped their price target on Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Finally, TD Cowen lifted their price target on Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus price target 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.