Lam Research (NASDAQ:LRCX) Receives New Coverage from Analysts at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Lam Research (NASDAQ:LRCX - Free Report) in a report released on Monday, MarketBeat.com reports. The brokerage issued a buy rating and a $1,100.00 price target on the semiconductor company's stock.

Several other research analysts also recently commented on LRCX. B. Riley raised shares of Lam Research from a neutral rating to a buy rating and raised their price target for the company from $870.00 to $1,100.00 in a report on Friday, April 19th. TD Cowen raised their price target on shares of Lam Research from $975.00 to $1,000.00 and gave the company a buy rating in a report on Thursday, April 25th. Mizuho raised their price target on shares of Lam Research from $935.00 to $960.00 and gave the company a buy rating in a report on Thursday, April 25th. Barclays lifted their price objective on shares of Lam Research from $825.00 to $865.00 and gave the stock an equal weight rating in a report on Thursday, April 25th. Finally, Evercore ISI started coverage on shares of Lam Research in a report on Tuesday, April 16th. They set an outperform rating and a $1,200.00 price objective for the company. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Lam Research presently has a consensus rating of Moderate Buy and a consensus price target of $957.95.

Lam Research Stock Performance

LRCX traded down $11.63 on Monday, hitting $903.79. The company's stock had a trading volume of 739,058 shares, compared to its average volume of 1,039,071. The company's 50 day simple moving average is $938.59 and its 200-day simple moving average is $831.42. The firm has a market cap of $118.16 billion, a P/E ratio of 33.27, a price-to-earnings-growth ratio of 2.84 and a beta of 1.51. Lam Research has a 12 month low of $529.95 and a 12 month high of $1,007.39. The company has a quick ratio of 1.84, a current ratio of 2.82 and a debt-to-equity ratio of 0.56.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, topping the consensus estimate of $7.26 by $0.53. The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. Lam Research's revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $6.99 EPS. Analysts forecast that Lam Research will post 29.62 EPS for the current year.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the business's 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 transaction, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the company's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the sale, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of the company'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 $857,330.46. Following the completion of the sale, the director now owns 10,541 shares in the company, valued at approximately $10,246,168.23. The disclosure for this sale can be found here. Insiders have sold 7,489 shares of company stock worth $6,978,065 over the last 90 days. 0.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lam Research

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Arlington Trust Co LLC grew its holdings in shares of 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 buying an additional 13 shares during the last quarter. Capital Performance Advisors LLP grew its holdings in shares of 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 buying an additional 13 shares during the last quarter. Van Leeuwen & Company LLC grew its holdings in shares of 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 buying an additional 13 shares during the last quarter. Busey Bank grew its holdings in shares of Lam Research by 1.5% during the first quarter. Busey Bank now owns 869 shares of the semiconductor company's stock valued at $844,000 after buying an additional 13 shares during the last quarter. Finally, First Affirmative Financial Network grew its holdings in shares of 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 buying an additional 13 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

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.