Lam Research (NASDAQ:LRCX) Earns Outperform Rating from Analysts at Evercore ISI

Evercore ISI began coverage on shares of Lam Research (NASDAQ:LRCX) in a research note released 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 research analysts also recently issued reports on the company. Raymond James upped their price objective on Lam Research from $850.00 to $950.00 and gave the company an outperform rating in a research note on Thursday, January 25th. UBS Group upped their price objective 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. The Goldman Sachs Group upped their price objective on Lam Research from $700.00 to $912.00 and gave the company a buy rating in a research note on Thursday, January 25th. Susquehanna upped their price objective on Lam Research from $655.00 to $880.00 and gave the company a neutral rating in a research note on Monday, January 29th. Finally, Cantor Fitzgerald upped their price objective on Lam Research from $900.00 to $1,100.00 and gave the company a neutral rating in a research note on Monday, April 8th. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Lam Research currently has a consensus rating of Moderate Buy and an average target price of $881.45.

Lam Research Trading Down 2.6 %

NASDAQ LRCX opened at $888.92 on Tuesday. The firm has a market capitalization of $116.54 billion, a P/E ratio of 34.37, a PEG ratio of 3.49 and a beta of 1.51. The business has a fifty day simple moving average of $946.27 and a 200 day simple moving average of $798.17. Lam Research has a 12 month low of $482.74 and a 12 month high of $1,007.39. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, beating analysts’ consensus estimates of $7.06 by $0.46. The business 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%. Lam Research’s quarterly revenue was down 28.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.71 EPS. On average, analysts predict that Lam Research will post 28.9 EPS for the current fiscal year.

Lam Research Announces Dividend

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

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was 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 of the company’s stock, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Christina Corrreia sold 647 shares of the firm’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 transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’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 transaction, the senior vice president now directly 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 a total of 7,029 shares of company stock valued at $6,559,489 in the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Large investors have recently modified their holdings of the company. Hobbs Group Advisors LLC purchased a new position in shares of Lam Research during the 4th quarter valued at about $27,000. DSM Capital Partners LLC purchased a new position in shares of Lam Research during the 4th quarter valued at about $28,000. Valued Wealth Advisors LLC purchased a new position in Lam Research in the 4th quarter worth approximately $30,000. Orion Capital Management LLC purchased a new position in Lam Research in the 3rd quarter worth approximately $25,000. Finally, Partnership Wealth Management LLC purchased a new position in Lam Research in the 4th quarter worth approximately $33,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

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.