Arvest Bank Trust Division Purchases 194,042 Shares of Lam Research Co. (NASDAQ:LRCX)

Arvest Bank Trust Division lifted its position in Lam Research Co. (NASDAQ:LRCX) by 874.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 216,228 shares of the semiconductor company’s stock after acquiring an additional 194,042 shares during the quarter. Arvest Bank Trust Division’s holdings in Lam Research were worth $15,618,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Lam Research by 892.7% during the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock valued at $8,724,498,000 after purchasing an additional 108,619,564 shares during the period. FMR LLC boosted its position in Lam Research by 1,032.6% in the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock valued at $2,891,453,000 after buying an additional 36,496,689 shares during the period. Geode Capital Management LLC grew its stake in Lam Research by 907.1% in the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock worth $2,265,610,000 after acquiring an additional 28,307,499 shares in the last quarter. Norges Bank purchased a new position in shares of Lam Research during the fourth quarter worth approximately $1,661,672,000. Finally, Fisher Asset Management LLC raised its stake in shares of Lam Research by 892.7% during the fourth quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock valued at $1,341,902,000 after acquiring an additional 16,706,708 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Price Performance

Shares of LRCX opened at $65.14 on Thursday. The company has a market capitalization of $83.62 billion, a P/E ratio of 19.79, a P/E/G ratio of 1.47 and a beta of 1.52. The business’s 50-day moving average is $75.58 and its two-hundred day moving average is $76.17. 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 Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data 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 return on equity of 51.86% and a net margin of 26.49%. Research analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.41%. Lam Research’s dividend payout ratio is presently 27.96%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LRCX. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and lifted their target price for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. Bank of America decreased their price objective on Lam Research from $110.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday. UBS Group dropped their target price on shares of Lam Research from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Monday. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a report on Friday, January 17th. Finally, Jefferies Financial Group increased their price objective on shares of Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, March 28th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $93.87.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s 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 transaction, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by 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.