Lam Research (NASDAQ:LRCX) Coverage Initiated at Evercore ISI

Research analysts at Evercore ISI assumed coverage on shares of Lam Research (NASDAQ:LRCX) in a research note issued on Tuesday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $1,200.00 price target on the semiconductor company’s stock. Evercore ISI’s price target indicates a potential upside of 31.54% from the stock’s previous close.

Several other brokerages have also recently commented on LRCX. Barclays raised their price target on shares of Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a research report on Thursday, January 25th. Stifel Nicolaus raised their price target on shares of Lam Research from $850.00 to $950.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Cantor Fitzgerald raised their price target 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 raised their price target 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, Wells Fargo & Company raised their price target on shares of Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $875.55.

Lam Research Stock Performance

NASDAQ:LRCX opened at $912.26 on Tuesday. 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 stock has a market capitalization of $119.60 billion, a P/E ratio of 35.28, a PEG ratio of 3.43 and a beta of 1.51. The company has a 50 day moving average price of $945.78 and a 200 day moving average price of $797.54. Lam Research has a fifty-two week low of $482.74 and a fifty-two week high of $1,007.39.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share 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 firm had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter last year, the company posted $10.71 EPS. The firm’s quarterly revenue was down 28.8% on a year-over-year basis. Equities research analysts forecast that Lam Research will post 28.9 EPS for the current year.

Insider Buying and Selling

In related news, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the sale, the director now directly owns 10,541 shares in the company, valued at approximately $10,246,168.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the transaction, the director now directly owns 10,541 shares in the company, valued at $10,246,168.23. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction on 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 owns 22,095 shares in the company, valued at $20,380,648.95. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock worth $6,559,489 in the last ninety days. 0.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Orion Capital Management LLC purchased a new stake in shares of Lam Research in the third quarter valued at about $25,000. Hobbs Group Advisors LLC purchased a new stake in shares of Lam Research in the fourth quarter valued at about $27,000. BluePath Capital Management LLC purchased a new stake in shares of Lam Research in the third quarter valued at about $28,000. DSM Capital Partners LLC purchased a new stake in shares of Lam Research in the fourth quarter valued at about $28,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Lam Research in the third quarter valued at about $30,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.