Azzad Asset Management Inc. ADV Invests $3.60 Million in Lam Research Co. (NASDAQ:LRCX)

Azzad Asset Management Inc. ADV acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 49,527 shares of the semiconductor company’s stock, valued at approximately $3,601,000.

A number of other institutional investors and hedge funds have also made changes to their positions in LRCX. One Charles Private Wealth Services LLC boosted its holdings in Lam Research by 843.4% in the fourth quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company’s stock valued at $289,000 after purchasing an additional 3,576 shares in the last quarter. Brighton Jones LLC boosted its holdings in Lam Research by 1,032.4% in the fourth quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company’s stock valued at $1,025,000 after purchasing an additional 12,936 shares in the last quarter. Stephens Inc. AR boosted its holdings in Lam Research by 1,410.7% in the fourth quarter. Stephens Inc. AR now owns 6,194 shares of the semiconductor company’s stock valued at $447,000 after purchasing an additional 5,784 shares in the last quarter. Savant Capital LLC boosted its holdings in Lam Research by 893.5% in the fourth quarter. Savant Capital LLC now owns 22,790 shares of the semiconductor company’s stock valued at $1,646,000 after purchasing an additional 20,496 shares in the last quarter. Finally, Essex Financial Services Inc. acquired a new position in Lam Research in the fourth quarter valued at approximately $400,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Argus raised Lam Research to a “strong-buy” rating in a report on Friday, April 25th. UBS Group lowered their price target on Lam Research from $95.00 to $90.00 and set a “buy” rating for the company in a report on Monday, April 14th. B. Riley reaffirmed a “buy” rating on shares of Lam Research in a report on Thursday, April 24th. TD Cowen reduced their price objective 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, Morgan Stanley boosted their price objective on Lam Research from $81.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. Seven equities 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $90.87.

Lam Research Price Performance

Lam Research stock opened at $89.52 on Friday. Lam Research Co. has a 12 month low of $56.32 and a 12 month high of $113.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The business has a 50 day simple moving average of $77.13 and a 200-day simple moving average of $76.97. The stock has a market capitalization of $114.51 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. The business had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The company’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.79 earnings per share. Equities analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research’s payout ratio is 25.63%.

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.