Wahed Invest LLC Acquires 28,139 Shares of Lam Research Co. (NASDAQ:LRCX)

Wahed Invest LLC boosted its holdings in Lam Research Co. (NASDAQ:LRCX) by 887.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,310 shares of the semiconductor company’s stock after acquiring an additional 28,139 shares during the period. Wahed Invest LLC’s holdings in Lam Research were worth $2,262,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Parisi Gray Wealth Management grew its holdings in Lam Research by 652.9% in the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock valued at $603,000 after buying an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY bought a new stake in shares of Lam Research during the 4th quarter valued at $815,000. Centerpoint Advisors LLC increased its position in shares of Lam Research by 900.0% in the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 900 shares during the period. Transform Wealth LLC bought a new stake in Lam Research during the fourth quarter worth about $17,269,000. Finally, E. Ohman J or Asset Management AB acquired a new stake in Lam Research during the fourth quarter worth about $4,258,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on LRCX shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price objective on shares of Lam Research in a research note on Thursday, April 24th. Needham & Company LLC cut their price target on shares of Lam Research from $96.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and raised their price target for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. TD Securities decreased their target price on Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Finally, Mizuho lifted their price objective on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.56.

Insider Buying and Selling at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $71.73 on Friday. The stock’s 50 day moving average price is $71.95 and its 200-day moving average price is $75.15. The company has a market capitalization of $91.75 billion, a PE ratio of 21.79, a PEG ratio of 1.47 and a beta of 1.52. Lam Research Co. has a twelve month low of $56.32 and a twelve month high of $113.00. 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 (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. The company had revenue of $4.72 billion during 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 business posted $7.79 EPS. On average, equities analysts anticipate that Lam Research Co. will post 3.71 EPS 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 dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research’s payout ratio is currently 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.