Lam Research (NASDAQ:LRCX) Earns Outperform Rating from Analysts at Evercore ISI

Analysts at Evercore ISI initiated coverage on shares of Lam Research (NASDAQ:LRCX) in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm set an “outperform” rating and a $1,200.00 price target on the semiconductor company’s stock. Evercore ISI’s target price would suggest a potential upside of 26.83% from the company’s current price.

Other research analysts have also issued research reports about the stock. Needham & Company LLC increased their price target on shares of Lam Research from $800.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Susquehanna increased their price target on shares of Lam Research from $655.00 to $880.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Citigroup increased their price target on shares of Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. The Goldman Sachs Group increased their price target on shares of Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Stifel Nicolaus increased their price target on shares of Lam Research from $850.00 to $950.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and a consensus target price of $871.00.

Lam Research Stock Down 1.1 %

LRCX stock opened at $946.17 on Tuesday. Lam Research has a 12-month low of $482.74 and a 12-month high of $1,007.39. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61. The company has a market cap of $124.04 billion, a price-to-earnings ratio of 36.59, a PEG ratio of 3.47 and a beta of 1.51. The company has a 50 day moving average of $941.93 and a two-hundred day moving average of $794.36.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.06 by $0.46. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the prior year, the firm earned $10.71 EPS. The company’s revenue was down 28.8% compared to the same quarter last year. On average, equities analysts anticipate that Lam Research will post 28.9 earnings per share for the current fiscal year.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The disclosure for this sale can be found here. Insiders sold 7,029 shares of company stock valued at $6,559,489 in the last ninety days. Insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Lam Research

Institutional investors have recently modified their holdings of the business. Blue Whale Capital LLP grew its position in shares of Lam Research by 0.7% during the 3rd quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock worth $70,386,000 after buying an additional 800 shares during the period. Gradient Investments LLC grew its holdings in Lam Research by 32,411.1% during the fourth quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock valued at $11,459,000 after purchasing an additional 14,585 shares during the period. Contravisory Investment Management Inc. acquired a new position in Lam Research during the fourth quarter valued at approximately $7,930,000. Treasurer of the State of North Carolina grew its holdings in Lam Research by 0.9% during the third quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock valued at $39,994,000 after purchasing an additional 560 shares during the period. Finally, DNB Asset Management AS grew its holdings in Lam Research by 13.6% during the fourth quarter. DNB Asset Management AS now owns 41,100 shares of the semiconductor company’s stock valued at $32,192,000 after purchasing an additional 4,910 shares during the period. Institutional investors and hedge funds own 84.61% 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.