Arvest Investments Inc. Cuts Stake in Lam Research Co. (NASDAQ:LRCX)

Arvest Investments Inc. decreased its stake in Lam Research Co. (NASDAQ:LRCX) by 22.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,268 shares of the semiconductor company’s stock after selling 675 shares during the quarter. Arvest Investments Inc.’s holdings in Lam Research were worth $1,851,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. TCI Wealth Advisors Inc. purchased a new position in shares of Lam Research in the first quarter valued at $229,000. Montag A & Associates Inc. increased its position in shares of Lam Research by 11.5% during the first quarter. Montag A & Associates Inc. now owns 1,613 shares of the semiconductor company’s stock worth $1,571,000 after acquiring an additional 167 shares during the last quarter. Atomi Financial Group Inc. lifted its stake in shares of Lam Research by 15.8% in the first quarter. Atomi Financial Group Inc. now owns 595 shares of the semiconductor company’s stock worth $578,000 after acquiring an additional 81 shares in the last quarter. Concurrent Investment Advisors LLC boosted its holdings in Lam Research by 11.3% in the first quarter. Concurrent Investment Advisors LLC now owns 859 shares of the semiconductor company’s stock valued at $834,000 after purchasing an additional 87 shares during the last quarter. Finally, NorthRock Partners LLC increased its holdings in Lam Research by 28.6% during the 1st quarter. NorthRock Partners LLC now owns 878 shares of the semiconductor company’s stock worth $853,000 after purchasing an additional 195 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Lam Research Trading Down 1.3 %

Shares of Lam Research stock traded down $1.01 during trading on Friday, hitting $78.20. The stock had a trading volume of 7,527,071 shares, compared to its average volume of 13,968,317. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $100.62 billion, a PE ratio of 25.27, a P/E/G ratio of 1.22 and a beta of 1.48. Lam Research Co. has a 1 year low of $64.85 and a 1 year high of $113.00. The stock has a 50 day simple moving average of $77.67 and a 200 day simple moving average of $88.53.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same period in the prior year, the firm earned $6.85 earnings per share. The firm’s revenue was up 19.7% compared to the same quarter last year. On average, research analysts expect that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LRCX. Wells Fargo & Company decreased their price target on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. B. Riley reduced their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Citigroup lowered their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. UBS Group decreased their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Finally, StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

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.