Evercore ISI Begins Coverage on Lam Research (NASDAQ:LRCX)

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

LRCX has been the subject of several other research reports. Mizuho upped their target price on shares of Lam Research from $900.00 to $935.00 and gave the stock a buy rating in a report on Thursday, January 25th. UBS Group boosted their price target on shares of Lam Research from $885.00 to $1,130.00 and gave the stock a buy rating in a research note on Tuesday, March 5th. Susquehanna boosted their price target 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Lam Research in a research note on Thursday, April 11th. They issued a hold rating and a $1,000.00 price target on the stock. Finally, Needham & Company LLC boosted their price target 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. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $899.64.

Lam Research Trading Down 2.1 %

Shares of Lam Research stock opened at $870.25 on Tuesday. The company has a market capitalization of $114.09 billion, a P/E ratio of 33.65, a P/E/G ratio of 3.30 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 has a fifty day moving average of $945.44 and a 200 day moving average of $799.83. Lam Research has a fifty-two week low of $493.42 and a fifty-two week high of $1,007.39.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, topping the consensus estimate of $7.06 by $0.46. The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. Lam Research’s quarterly revenue was down 28.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.71 EPS. On average, sell-side 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. Shareholders of record on Wednesday, March 13th were paid a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.92%. Lam Research’s dividend payout ratio (DPR) is 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 that occurred on 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 completion of the sale, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction on 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 completion of the transaction, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 completion of 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 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 Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Orion Capital Management LLC purchased a new position in shares of Lam Research during the third quarter worth $25,000. Hobbs Group Advisors LLC purchased a new position in shares of Lam Research during the fourth quarter worth $27,000. BluePath Capital Management LLC purchased a new position in shares of Lam Research during the third quarter worth $28,000. DSM Capital Partners LLC purchased a new position in shares of Lam Research during the fourth quarter worth $28,000. Finally, OFI Invest Asset Management purchased a new position in shares of Lam Research during the third quarter worth $30,000. 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.