Lam Research (NASDAQ:LRCX) Receives New Coverage from Analysts at Evercore ISI

Stock analysts at Evercore ISI began coverage on shares of Lam Research (NASDAQ:LRCX) in a research note issued to 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 price objective would indicate a potential upside of 31.54% from the company’s current price.

LRCX has been the topic of several other reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Lam Research in a research report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 price objective on the stock. TD Cowen lifted their price objective on shares of Lam Research from $710.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Cantor Fitzgerald lifted their price objective on shares of Lam Research from $900.00 to $1,100.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. The Goldman Sachs Group lifted their price objective on shares of Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, Mizuho boosted their price target on shares of Lam Research from $900.00 to $935.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Lam Research has an average rating of “Moderate Buy” and an average target price of $875.55.

Lam Research Trading Down 5.3 %

NASDAQ LRCX opened at $912.26 on Tuesday. Lam Research has a one year low of $482.74 and a one year high of $1,007.39. The company has a 50-day simple moving average of $945.78 and a 200-day simple moving average of $797.54. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The firm has a market capitalization of $119.60 billion, a PE ratio of 35.28, a price-to-earnings-growth ratio of 3.43 and a beta of 1.51.

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

Insider Transactions at Lam Research

In other news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the transaction, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the transaction, the director now directly owns 10,541 shares in the company, valued at $10,246,168.23. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock valued at $6,559,489 in the last quarter. Insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LRCX. Arlington Trust Co LLC grew its position in Lam Research by 7.7% during the fourth quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock valued at $143,000 after purchasing an additional 13 shares in the last quarter. Capital Performance Advisors LLP grew its position in Lam Research by 2.2% during the fourth quarter. Capital Performance Advisors LLP now owns 613 shares of the semiconductor company’s stock valued at $480,000 after purchasing an additional 13 shares in the last quarter. Van Leeuwen & Company LLC grew its position in Lam Research by 0.5% during the fourth quarter. Van Leeuwen & Company LLC now owns 2,583 shares of the semiconductor company’s stock valued at $2,023,000 after purchasing an additional 13 shares in the last quarter. First Affirmative Financial Network grew its position in Lam Research by 2.5% during the first quarter. First Affirmative Financial Network now owns 525 shares of the semiconductor company’s stock valued at $510,000 after purchasing an additional 13 shares in the last quarter. Finally, CNB Bank grew its position in Lam Research by 1.4% during the fourth quarter. CNB Bank now owns 1,032 shares of the semiconductor company’s stock valued at $808,000 after purchasing an additional 14 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

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.