DA Davidson analyst Thomas Diffely reiterated a Buy rating and $210.00 price target on Lam Research (NASDAQ: LRCX) noting that it is the first of the large semiconductor equipment suppliers to report results and management's commentary will likely set the tone for the rest of the reporting season.

The analyst stated "While the memory market is improving (lower prices and constrained output is easing the supply-demand imbalance), the key question is whether this market will recover before the Foundry and Logic markets take a breather. Long term, we remain bullish on the memory market and LRCX".

For an analyst ratings summary and ratings history on Lam Research click here. For more ratings news on Lam Research click here.

Shares of Lam Research closed at $197.45 yesterday.