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

Arvest Investments Inc. trimmed its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 19.2% in the 1st quarter, according to the company in 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 period. Arvest Investments Inc.'s holdings in Lam Research were worth $1,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Financial Perspectives Inc increased its stake in shares of Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after buying an additional 309 shares during the period. Fairway Wealth LLC increased its stake in shares of Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after buying an additional 306 shares during the period. Midwest Capital Advisors LLC purchased a new position in shares of Lam Research during the fourth quarter valued at $27,000. West Paces Advisors Inc. purchased a new position in shares of Lam Research during the fourth quarter valued at $27,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Lam Research during the fourth quarter valued at $27,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on LRCX shares. Needham & Company LLC cut their target price on Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. TD Securities cut their target price on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. TD Cowen cut their target price on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Evercore ISI lifted their target price on Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, Barclays cut their target price on Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Lam Research has an average rating of "Moderate Buy" and a consensus price target of $90.87.

Lam Research Stock Performance

Shares of Lam Research stock traded down $2.14 on Friday, reaching $89.52. 10,977,636 shares of the stock were exchanged, compared to its average volume of 12,305,432. 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 twelve month low of $56.32 and a twelve month high of $113.00. The firm has a market capitalization of $114.51 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.47 and a beta of 1.65. The business has a 50 day moving average price of $77.13 and a two-hundred day moving average price of $77.01.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the previous year, the company posted $7.79 earnings per share. Lam Research's revenue for the quarter was up 24.4% on a year-over-year basis. Analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's payout ratio is presently 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.