Lam Research (LRCX) Receives a Rating Update from a Top Analyst

Evercore ISI analyst Mark Lipacis maintained a Buy rating on Lam Research today and set a price target of $275.00.

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Lipacis covers the Technology sector, focusing on stocks such as Lam Research, Texas Instruments, and Advanced Micro Devices. According to TipRanks, Lipacis has an average return of 35.3% and a 71.93% success rate on recommended stocks.

In addition to Evercore ISI, Lam Research also received a Buy from B. Riley Securities’s Craig Ellis in a report issued yesterday. However, on April 6, Morgan Stanley maintained a Hold rating on Lam Research (NASDAQ: LRCX).

Based on Lam Research’s latest earnings release for the quarter ending December 28, the company reported a quarterly revenue of $5.34 billion and a net profit of $1.59 billion. In comparison, last year the company earned a revenue of $4.38 billion and had a net profit of $1.19 billion

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LRCX in relation to earlier this year. Last month, Ava Harter, the CLO of LRCX sold 1,500.00 shares for a total of $333,990.00.