Lam Research Co. (NASDAQ:LRCX) Shares Sold by Arvest Investments Inc.

Arvest Investments Inc. decreased its holdings in Lam Research Co. (NASDAQ:LRCX) by 22.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,268 shares of the semiconductor company’s stock after selling 675 shares during the period. Arvest Investments Inc.’s holdings in Lam Research were worth $1,851,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of LRCX. Van ECK Associates Corp grew its holdings in Lam Research by 1,394.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after acquiring an additional 15,005,178 shares in the last quarter. Foster Victor Wealth Advisors LLC lifted its position in shares of Lam Research by 994.1% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company’s stock worth $190,066,000 after purchasing an additional 211,614 shares during the last quarter. Swedbank AB acquired a new position in shares of Lam Research during the first quarter worth $192,668,000. Vanguard Group Inc. raised its stake in Lam Research by 1.2% in the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after buying an additional 144,914 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Lam Research by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after buying an additional 142,903 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Morgan Stanley decreased their target price on Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. TD Cowen upped their target price on shares of Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Mizuho cut their price target on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Citigroup decreased their price objective on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. Finally, Wells Fargo & Company cut their target price on Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Lam Research Stock Performance

NASDAQ LRCX traded down $1.01 on Friday, hitting $78.20. 7,527,071 shares of the company’s stock were exchanged, compared to its average volume of 13,968,317. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The firm’s 50-day moving average price is $77.67 and its two-hundred day moving average price is $88.53. The firm has a market cap of $100.62 billion, a price-to-earnings ratio of 25.27, a P/E/G ratio of 1.22 and a beta of 1.48. Lam Research Co. has a fifty-two week low of $64.85 and a fifty-two week high of $113.00.

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

Lam Research Announces Dividend

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

Insider Buying and Selling

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

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.