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

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

LRCX has been the subject of a number of other reports. Needham & Company LLC lifted their target price on shares of Lam Research from $800.00 to $900.00 and gave the stock a buy rating in a research note on Thursday, January 25th. Stifel Nicolaus lifted their target price on shares of Lam Research from $850.00 to $950.00 and gave the stock a buy rating in a research note on Thursday, January 25th. Barclays lifted their target price on shares of Lam Research from $750.00 to $825.00 and gave the stock an equal weight rating in a research note on Thursday, January 25th. Susquehanna lifted their target price on shares of Lam Research from $655.00 to $880.00 and gave the stock a neutral rating in a research note on Monday, January 29th. Finally, TD Cowen lifted their target price on shares of Lam Research from $710.00 to $975.00 and gave the stock an outperform rating in a research note on Thursday, January 25th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Lam Research presently has an average rating of Moderate Buy and a consensus price target of $875.55.

Lam Research Stock Up 1.8 %

NASDAQ:LRCX opened at $963.23 on Tuesday. Lam Research has a fifty-two week low of $482.74 and a fifty-two week high of $1,007.39. The stock has a market capitalization of $126.28 billion, a P/E ratio of 37.25, a P/E/G ratio of 3.47 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 company’s 50-day simple moving average is $944.50 and its 200-day simple moving average is $796.73.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating 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 business had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same period last year, the business earned $10.71 EPS. The company’s revenue was down 28.8% compared to the same quarter last year. On average, equities analysts anticipate that Lam Research will post 28.9 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is 30.94%.

Insider Activity

In other news, Director Abhijit Y. Talwalkar sold 882 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 transaction of $857,330.46. Following the completion of the transaction, the director now directly owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Abhijit Y. Talwalkar sold 882 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 transaction of $857,330.46. Following the completion of the transaction, the director now directly owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 transaction 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 disclosure for this sale can be found here. Insiders sold a total of 7,029 shares of company stock valued at $6,559,489 in the last three months. 0.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lam Research

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Whale Capital LLP increased its holdings in Lam Research by 0.7% in the 3rd quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock worth $70,386,000 after acquiring an additional 800 shares in the last quarter. Everence Capital Management Inc. increased its holdings in Lam Research by 54.7% in the 4th quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock worth $3,190,000 after acquiring an additional 1,440 shares in the last quarter. Gradient Investments LLC grew its holdings in shares of Lam Research by 32,411.1% during the fourth quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock worth $11,459,000 after buying an additional 14,585 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of Lam Research during the fourth quarter worth $7,930,000. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Lam Research by 0.9% during the third quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock worth $39,994,000 after buying an additional 560 shares in the last quarter. Hedge funds and other 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.