Azzad Asset Management Inc. ADV Purchases New Shares in Lam Research Co. (NASDAQ:LRCX)

Azzad Asset Management Inc. ADV acquired a new position in Lam Research Co. (NASDAQ:LRCX) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 49,527 shares of the semiconductor company’s stock, valued at approximately $3,601,000.

Other hedge funds have also modified their holdings of the company. Fairway Wealth LLC grew its holdings in Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 306 shares during the period. Financial Perspectives Inc raised its stake in shares of Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after buying an additional 309 shares during the period. West Paces Advisors Inc. acquired a new position in shares of Lam Research during the 4th quarter worth approximately $27,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Lam Research during the 4th quarter worth approximately $27,000. Finally, Midwest Capital Advisors LLC acquired a new position in shares of Lam Research during the 4th quarter worth approximately $27,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on LRCX shares. Argus raised Lam Research to a “strong-buy” rating in a research note on Friday, April 25th. Needham & Company LLC reduced 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. Barclays reduced their target price on Lam Research from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Stifel Nicolaus reduced their target price on Lam Research from $100.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Finally, Mizuho increased their price objective on 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, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and a consensus price target of $90.87.

Lam Research Stock Down 2.3%

Shares of LRCX opened at $89.52 on Friday. The firm has a market cap of $114.51 billion, a P/E ratio of 27.19, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65. Lam Research Co. has a 12-month low of $56.32 and a 12-month high of $113.00. The company’s 50-day moving average price is $77.13 and its 200 day moving average price is $76.97. The company has a current ratio of 2.54, a quick ratio of 1.73 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 analysts’ consensus estimates of $1.00 by $0.04. The company 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%. The business’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.79 earnings per share. On average, sell-side analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

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