Arvest Bank Trust Division Invests $18.11 Million in Lam Research Co. (NASDAQ:LRCX)

Arvest Bank Trust Division purchased a new stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 22,186 shares of the semiconductor company's stock, valued at approximately $18,106,000.

Several other large investors have also recently made changes to their positions in LRCX. Van ECK Associates Corp grew its position 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 during the last quarter. State Street Corp grew its holdings in shares of Lam Research by 1.6% in the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company's stock worth $4,817,113,000 after purchasing an additional 94,086 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Lam Research by 2.1% in the third quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company's stock worth $2,539,413,000 after buying an additional 64,053 shares during the period. Fisher Asset Management LLC raised its holdings in Lam Research by 0.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company's stock valued at $1,527,273,000 after buying an additional 11,093 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Lam Research by 7.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company's stock valued at $1,335,522,000 after buying an additional 89,470 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of research analyst reports. BNP Paribas raised shares of Lam Research to a "hold" rating in a research report on Thursday, October 24th. Needham & Company LLC reissued a "buy" rating and issued a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Cantor Fitzgerald restated a "neutral" rating and issued a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. Citigroup reduced their target price on Lam Research from $99.00 to $89.30 and set a "buy" rating on the stock in a report on Monday, September 16th. Finally, Mizuho lowered their target price on Lam Research from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday, September 20th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $97.24.

Lam Research Stock Performance

LRCX stock traded down $2.65 during trading on Thursday, reaching $75.58. The company had a trading volume of 8,616,364 shares, compared to its average volume of 11,245,295. The company has a market cap of $97.25 billion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 1.22 and a beta of 1.46. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The firm has a 50-day simple moving average of $75.99 and a 200-day simple moving average of $85.64.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (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 net margin of 26.02% and a return on equity of 50.60%. The firm's quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the firm posted $6.85 earnings per share. As a group, sell-side analysts expect that Lam Research Co. will post 3.5 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Wednesday, December 11th. Lam Research's dividend payout ratio (DPR) is presently 29.77%.

Insiders Place Their Bets

In other news, CAO Christina Correia sold 647 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is currently 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.