Arvest Trust Co. N A Sells 1,455 Shares of Lam Research Co. (NASDAQ:LRCX)

Arvest Trust Co. N A trimmed its holdings in Lam Research Co. (NASDAQ:LRCX) by 4.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 28,148 shares of the semiconductor company’s stock after selling 1,455 shares during the quarter. Lam Research makes up 1.8% of Arvest Trust Co. N A’s investment portfolio, making the stock its 13th largest position. Arvest Trust Co. N A’s holdings in Lam Research were worth $29,973,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Lam Research by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after purchasing an additional 144,914 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Lam Research by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock worth $2,329,037,000 after buying an additional 86,721 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Lam Research by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after buying an additional 142,903 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Lam Research by 7.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock worth $1,335,522,000 after acquiring an additional 89,470 shares during the period. Finally, Van ECK Associates Corp lifted its position in Lam Research by 11.1% during the 2nd quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock worth $1,145,664,000 after acquiring an additional 107,778 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Performance

Lam Research stock opened at $758.47 on Tuesday. The firm has a market capitalization of $99.16 billion, a P/E ratio of 27.90, a P/E/G ratio of 1.48 and a beta of 1.48. The stock has a fifty day moving average price of $862.12 and a two-hundred day moving average price of $930.91. Lam Research Co. has a 52-week low of $574.42 and a 52-week high of $1,130.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00.

Shares of Lam Research are going to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be issued to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, beating analysts’ consensus estimates of $7.58 by $0.56. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the previous year, the business earned $5.98 earnings per share. As a group, analysts anticipate that Lam Research Co. will post 35.2 EPS for the current fiscal year.

Lam Research announced that its Board of Directors has authorized a stock buyback program on Tuesday, May 21st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to repurchase up to 8.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Lam Research Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 1.21%. This is a boost from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date is Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is currently 33.84%.

Insiders Place Their Bets

In other news, SVP Neil J. Fernandes sold 4,409 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the completion of the sale, the senior vice president now directly owns 6,857 shares in the company, valued at $7,239,346.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Lam Research news, CEO Timothy Archer sold 9,650 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the transaction, the chief executive officer now owns 84,639 shares of the company’s stock, valued at approximately $90,596,739.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Neil J. Fernandes sold 4,409 shares of Lam Research stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the completion of the sale, the senior vice president now directly owns 6,857 shares of the company’s stock, valued at $7,239,346.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,326 shares of company stock valued at $17,383,715. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LRCX. Barclays lifted their price objective on Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft cut their price target on Lam Research from $1,100.00 to $950.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Citigroup lowered their price objective on shares of Lam Research from $990.00 to $893.00 and set a “buy” rating on the stock in a research note on Monday. UBS Group cut their target price on shares of Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Finally, StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,010.53.

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.