Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Wahed Invest LLC

Wahed Invest LLC raised its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 887.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,310 shares of the semiconductor company's stock after purchasing an additional 28,139 shares during the quarter. Wahed Invest LLC's holdings in Lam Research were worth $2,262,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. West Oak Capital LLC increased its holdings in Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 135 shares during the period. Diversified Trust Co increased its holdings in shares of Lam Research by 8.3% in the 4th quarter. Diversified Trust Co now owns 3,741 shares of the semiconductor company's stock valued at $270,000 after acquiring an additional 286 shares during the last quarter. McLean Asset Management Corp raised its position in shares of Lam Research by 6.3% during the 4th quarter. McLean Asset Management Corp now owns 5,122 shares of the semiconductor company's stock worth $370,000 after acquiring an additional 302 shares in the last quarter. Fairway Wealth LLC lifted its stake in Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 306 shares during the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC increased its stake in Lam Research by 159.1% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company's stock valued at $36,000 after purchasing an additional 307 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on LRCX. TD Cowen dropped their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. KeyCorp raised Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price objective for the company in a report on Friday, January 17th. B. Riley reaffirmed a "buy" rating on shares of Lam Research in a research note on Thursday, April 24th. Argus upgraded Lam Research to a "strong-buy" rating in a research note on Friday, April 25th. Finally, TD Securities dropped their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $91.56.

Lam Research Trading Up 1.3 %

NASDAQ LRCX traded up $0.98 during mid-day trading on Wednesday, reaching $74.14. 2,530,429 shares of the stock were exchanged, compared to its average volume of 12,113,563. Lam Research Co. has a 1-year low of $56.32 and a 1-year high of $113.00. The business's fifty day simple moving average is $71.62 and its 200 day simple moving average is $75.16. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The stock has a market capitalization of $94.84 billion, a PE ratio of 22.51, a PEG ratio of 1.47 and a beta of 1.64.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. 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 company posted $7.79 EPS. On average, research analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the sale, the senior vice president now owns 179,084 shares of the company's stock, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.29% of the company's stock.

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.