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

Evercore ISI assumed coverage on shares of Lam Research (NASDAQ:LRCX) in a report published on Tuesday, Marketbeat.com reports. The brokerage issued an outperform rating and a $1,200.00 price objective on the semiconductor company’s stock.

A number of other equities analysts have also weighed in on the company. Cantor Fitzgerald upped their price objective on Lam Research from $900.00 to $1,100.00 and gave the stock a neutral rating in a research note on Monday, April 8th. The Goldman Sachs Group upped their price objective on Lam Research from $700.00 to $912.00 and gave the stock a buy rating in a research note on Thursday, January 25th. UBS Group increased their price target on Lam Research from $885.00 to $1,130.00 and gave the company a buy rating in a research note on Tuesday, March 5th. TD Cowen increased their price target on Lam Research from $710.00 to $975.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Finally, Wells Fargo & Company increased their price target on Lam Research from $930.00 to $980.00 and gave the company an equal weight rating in a research note on Tuesday, April 2nd. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Lam Research currently has an average rating of Moderate Buy and a consensus price target of $881.45.

Lam Research Stock Performance

NASDAQ:LRCX opened at $888.92 on Tuesday. The firm has a market capitalization of $116.54 billion, a PE ratio of 34.37, a P/E/G ratio of 3.49 and a beta of 1.51. 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 50-day simple moving average of $946.27 and a two-hundred day simple moving average of $798.17. Lam Research has a 52-week low of $482.74 and a 52-week high of $1,007.39.

Lam Research (NASDAQ:LRCX) last released 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. The firm had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.71 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The business’s quarterly revenue was down 28.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $10.71 earnings per share. Analysts forecast that Lam Research will post 28.9 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 annualized dividend and a dividend yield of 0.90%. Lam Research’s payout ratio is 30.94%.

Insider Transactions at Lam Research

In other news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the sale, the director now directly owns 10,541 shares in the company, valued at $10,246,168.23. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 transaction of $628,903.41. Following the transaction, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 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 $857,330.46. Following the transaction, the director now owns 10,541 shares in the company, valued at $10,246,168.23. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,029 shares of company stock worth $6,559,489. 0.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LRCX. Moneta Group Investment Advisors LLC increased its holdings in Lam Research by 117,180.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 32,822,222 shares of the semiconductor company’s stock worth $13,795,180,000 after purchasing an additional 32,794,236 shares during the period. Norges Bank bought a new stake in Lam Research during the 4th quarter valued at $1,414,111,000. Morgan Stanley boosted its position in Lam Research by 34.8% during the 4th quarter. Morgan Stanley now owns 1,651,084 shares of the semiconductor company’s stock valued at $693,952,000 after acquiring an additional 425,918 shares in the last quarter. International Assets Investment Management LLC boosted its position in Lam Research by 76,165.7% during the 4th quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock valued at $249,099,000 after acquiring an additional 317,611 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in Lam Research by 1,125.6% during the 4th quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock valued at $267,984,000 after acquiring an additional 314,224 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

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.