Napean Trading & Investment Co Singapore PTE Ltd Has $21.15 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

Napean Trading & Investment Co Singapore PTE Ltd boosted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 2.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 19,862 shares of the semiconductor company’s stock after buying an additional 400 shares during the period. Lam Research makes up approximately 5.0% of Napean Trading & Investment Co Singapore PTE Ltd’s investment portfolio, making the stock its 3rd biggest position. Napean Trading & Investment Co Singapore PTE Ltd’s holdings in Lam Research were worth $21,150,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Checchi Capital Advisers LLC boosted its stake in Lam Research by 1.0% in the fourth quarter. Checchi Capital Advisers LLC now owns 1,781 shares of the semiconductor company’s stock worth $1,395,000 after buying an additional 18 shares in the last quarter. Jump Financial LLC boosted its stake in shares of Lam Research by 108.1% in the 4th quarter. Jump Financial LLC now owns 2,283 shares of the semiconductor company’s stock valued at $1,788,000 after purchasing an additional 1,186 shares in the last quarter. Cypress Capital Group grew its holdings in shares of Lam Research by 23.1% during the 2nd quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company’s stock valued at $3,757,000 after purchasing an additional 661 shares during the last quarter. Principal Securities Inc. purchased a new position in Lam Research in the 4th quarter worth $1,113,000. Finally, Brookstone Capital Management lifted its stake in Lam Research by 142.6% in the second quarter. Brookstone Capital Management now owns 1,601 shares of the semiconductor company’s stock worth $1,705,000 after purchasing an additional 941 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Citigroup reduced their price objective on Lam Research from $1,025.00 to $990.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Jefferies Financial Group started coverage on Lam Research in a research report on Monday, May 13th. They set a “buy” rating and a $1,100.00 price target on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on Lam Research from $1,100.00 to $950.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Finally, Needham & Company LLC reissued a “buy” rating and set a $1,130.00 price target on shares of Lam Research in a research report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,006.10.

Insider Transactions at Lam Research

In other news, SVP Neil J. Fernandes sold 1,620 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the sale, the senior vice president now directly owns 5,237 shares of the company’s stock, valued at approximately $5,535,456.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Timothy Archer sold 9,650 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 84,639 shares in the company, valued at approximately $90,596,739.21. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Neil J. Fernandes sold 1,620 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the completion of the transaction, the senior vice president now owns 5,237 shares in the company, valued at approximately $5,535,456.63. The disclosure for this sale can be found here. Insiders have sold 16,326 shares of company stock valued at $17,383,715 in the last three months. 0.32% of the stock is currently owned by company insiders.

Lam Research Stock Down 2.9 %

Shares of Lam Research stock opened at $733.83 on Friday. The company’s fifty day simple moving average is $901.71 and its two-hundred day simple moving average is $938.36. The company has a market cap of $95.94 billion, a P/E ratio of 26.99, a PEG ratio of 1.58 and a beta of 1.48. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. Lam Research Co. has a 12-month low of $574.42 and a 12-month high of $1,130.00.

Shares of Lam Research are set to split on the morning of 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 released its earnings results 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 the consensus estimate of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company’s revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.98 EPS. Research analysts anticipate that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research Increases Dividend

The firm also recently announced 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. The ex-dividend date is Tuesday, September 17th. 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 dividend yield of 1.25%. Lam Research’s dividend payout ratio is currently 33.84%.

Lam Research declared that its Board of Directors has initiated a share buyback program on Tuesday, May 21st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 8.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is 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.