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

Evercore ISI initiated coverage on shares of Lam Research (NASDAQ:LRCX - Get Free Report) in a report issued on Tuesday, MarketBeat Ratings 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 points to a potential upside of 24.58% from the stock's current price.

A number of other analysts have also recently issued reports on LRCX. Raymond James raised their target price on shares of Lam Research from $850.00 to $950.00 and gave the stock an "outperform" rating in a research note on Thursday, January 25th. Deutsche Bank Aktiengesellschaft started coverage on Lam Research in a report on Thursday, April 11th. They set a "hold" rating and a $1,000.00 price objective for the company. The Goldman Sachs Group increased their target price on Lam Research from $700.00 to $912.00 and gave the stock a "buy" rating in a research note on Thursday, January 25th. Susquehanna lifted their price target on Lam Research from $655.00 to $880.00 and gave the stock a "neutral" rating in a report on Monday, January 29th. Finally, Barclays upped their price objective on Lam Research from $750.00 to $825.00 and gave the company an "equal weight" rating in a report on Thursday, January 25th. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $875.55.

Lam Research Stock Performance

Lam Research stock traded up $17.06 during midday trading on Tuesday, reaching $963.23. 544,094 shares of the company's stock were exchanged, compared to its average volume of 1,017,751. 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's 50-day simple moving average is $944.50 and its 200 day simple moving average is $796.73. The firm has a market cap of $126.28 billion, a price-to-earnings ratio of 37.25, a P/E/G ratio of 3.47 and a beta of 1.51. Lam Research has a 52 week low of $482.74 and a 52 week high of $1,007.39.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results 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 return on equity of 44.47% and a net margin of 24.15%. The business had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period in the previous year, the firm earned $10.71 EPS. The firm's revenue was down 28.8% compared to the same quarter last year. On average, analysts expect that Lam Research will post 28.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Corrreia sold 647 shares of the firm's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the sale, 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 document filed with the SEC, which is available at the SEC website. In other Lam Research news, CAO Christina Corrreia sold 647 shares of the business's stock in a transaction dated Monday, April 1st. The stock was 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 owns 5,541 shares of the company's stock, valued at $5,386,018.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the firm's stock in a transaction that occurred 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 sale, 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 sold a total of 7,029 shares of company stock worth $6,559,489 over the last three months. Corporate insiders own 0.32% of the company's stock.

Institutional Trading of Lam Research

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Moneta Group Investment Advisors LLC raised its position in Lam Research by 117,180.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 32,822,222 shares of the semiconductor company's stock valued at $13,795,180,000 after purchasing an additional 32,794,236 shares during the last quarter. Vanguard Group Inc. raised its holdings in Lam Research by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 11,711,747 shares of the semiconductor company's stock valued at $9,173,343,000 after buying an additional 79,581 shares during the last quarter. State Street Corp boosted its position in Lam Research by 1.7% during the 1st quarter. State Street Corp now owns 5,697,200 shares of the semiconductor company's stock worth $3,029,550,000 after buying an additional 92,606 shares during the period. Fisher Asset Management LLC grew its holdings in Lam Research by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company's stock worth $2,329,037,000 after acquiring an additional 86,721 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Lam Research by 0.8% in the 1st quarter. Geode Capital Management LLC now owns 2,542,805 shares of the semiconductor company's stock valued at $1,345,403,000 after acquiring an additional 19,280 shares during the period. Institutional investors 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.