Arvest Investments Inc. Grows Position in Lam Research Co. (NASDAQ:LRCX)

Arvest Investments Inc. raised its position in Lam Research Co. (NASDAQ:LRCX) by 829.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,069 shares of the semiconductor company’s stock after purchasing an additional 18,801 shares during the quarter. Arvest Investments Inc.’s holdings in Lam Research were worth $1,522,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Caprock Group LLC raised its holdings in shares of Lam Research by 4.9% during the 3rd quarter. Caprock Group LLC now owns 3,317 shares of the semiconductor company’s stock valued at $2,715,000 after buying an additional 156 shares during the period. Strategy Asset Managers LLC purchased a new stake in shares of Lam Research during the 3rd quarter valued at about $566,000. Jennison Associates LLC raised its holdings in shares of Lam Research by 20.0% during the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after buying an additional 39,725 shares during the period. Kirtland Hills Capital Management LLC raised its holdings in shares of Lam Research by 77.4% during the 3rd quarter. Kirtland Hills Capital Management LLC now owns 470 shares of the semiconductor company’s stock valued at $384,000 after buying an additional 205 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in shares of Lam Research by 3.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,859 shares of the semiconductor company’s stock valued at $3,149,000 after buying an additional 144 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Trading Up 0.7 %

Shares of NASDAQ LRCX opened at $77.93 on Thursday. The company has a market cap of $100.04 billion, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The stock’s 50 day simple moving average is $79.59 and its 200 day simple moving average is $77.33.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Equities research analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is 27.96%.

Analyst Ratings Changes

Several brokerages recently commented on LRCX. Wells Fargo & Company raised their target price on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Morgan Stanley raised their price objective on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Barclays lowered their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research note on Friday, January 17th. Finally, Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $98.22.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. The trade was a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is owned by company insiders.

Lam Research Company 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.