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

Arvest Investments Inc. raised its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 829.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,069 shares of the semiconductor company's stock after purchasing an additional 18,801 shares during the period. Arvest Investments Inc.'s holdings in Lam Research were worth $1,522,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Caprock Group LLC boosted its holdings in Lam Research by 4.9% in the 3rd quarter. Caprock Group LLC now owns 3,317 shares of the semiconductor company's stock worth $2,715,000 after buying an additional 156 shares during the last quarter. Strategy Asset Managers LLC acquired a new position in Lam Research in the 3rd quarter valued at $566,000. Jennison Associates LLC lifted its holdings in Lam Research by 20.0% in the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company's stock valued at $194,451,000 after purchasing an additional 39,725 shares in the last quarter. Kirtland Hills Capital Management LLC boosted its stake in Lam Research by 77.4% during the 3rd quarter. Kirtland Hills Capital Management LLC now owns 470 shares of the semiconductor company's stock worth $384,000 after purchasing an additional 205 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of Lam Research by 3.9% during the third quarter. Advisors Asset Management Inc. now owns 3,859 shares of the semiconductor company's stock worth $3,149,000 after buying an additional 144 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Lam Research Stock Up 2.8 %

Lam Research stock traded up $2.15 during mid-day trading on Monday, hitting $77.99. The company had a trading volume of 7,951,352 shares, compared to its average volume of 11,071,076. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The business has a fifty day moving average of $79.62 and a 200 day moving average of $77.29. The stock has a market cap of $100.11 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 1.47 and a beta of 1.53.

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

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders 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 is Wednesday, March 5th. Lam Research's payout ratio is currently 27.96%.

Analyst Ratings Changes

A number of research firms have commented on LRCX. Oppenheimer started coverage on shares of Lam Research in a report on Thursday. They issued an "outperform" rating and a $95.00 price objective for the company. Barclays decreased their price target on Lam Research from $90.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Friday, January 17th. Susquehanna raised shares of Lam Research from a "neutral" rating to a "positive" rating and upped their target price for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. Wells Fargo & Company upped their price objective on shares of Lam Research from $82.00 to $85.00 and gave the stock an "equal weight" rating in a report on Thursday, January 30th. Finally, Mizuho upped their price target on Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Lam Research has a consensus rating of "Moderate Buy" and an average price target of $98.06.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company's stock.

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.