Arvest Investments Inc. Has $1.24 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Arvest Investments Inc. lessened its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 19.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,018 shares of the semiconductor company's stock after selling 4,051 shares during the quarter. Arvest Investments Inc.'s holdings in Lam Research were worth $1,237,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Investment Partners Asset Management Inc. raised its stake in Lam Research by 5.4% during the first quarter. Investment Partners Asset Management Inc. now owns 4,373 shares of the semiconductor company's stock worth $318,000 after acquiring an additional 226 shares in the last quarter. Legacy Wealth Asset Management LLC increased its position in shares of Lam Research by 1.9% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 13,243 shares of the semiconductor company's stock worth $963,000 after purchasing an additional 248 shares in the last quarter. Walker Asset Management LLC lifted its holdings in Lam Research by 7.8% during the 1st quarter. Walker Asset Management LLC now owns 3,862 shares of the semiconductor company's stock valued at $281,000 after purchasing an additional 281 shares during the last quarter. Paladin Wealth LLC boosted its position in Lam Research by 4.0% in the first quarter. Paladin Wealth LLC now owns 7,489 shares of the semiconductor company's stock valued at $544,000 after buying an additional 289 shares in the last quarter. Finally, Fairway Wealth LLC grew its stake in Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after buying an additional 306 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LRCX. Argus upgraded shares of Lam Research to a "strong-buy" rating in a research note on Friday, April 25th. Susquehanna raised Lam Research from a "neutral" rating to a "positive" rating and boosted their price objective for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Stifel Nicolaus decreased their target price on Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Needham & Company LLC lowered their target price on Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Jefferies Financial Group upped their price target on shares of Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $90.87.

Lam Research Trading Down 2.3%

LRCX traded down $2.14 during midday trading on Friday, reaching $89.52. 10,977,636 shares of the company were exchanged, compared to its average volume of 12,281,031. The stock has a market capitalization of $114.51 billion, a P/E ratio of 27.19, a PEG ratio of 1.47 and a beta of 1.65. Lam Research Co. has a one year low of $56.32 and a one year high of $113.00. The stock's 50-day simple moving average is $77.13 and its 200 day simple moving average is $76.97. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Lam Research's quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter last year, the firm earned $7.79 EPS. As a group, analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is 25.63%.

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.