Lam Research (NASDAQ:LRCX - Get Free Report) had its target price lifted by equities researchers at KeyCorp from $105.00 to $115.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the semiconductor company's stock. KeyCorp's price objective would suggest a potential upside of 14.09% from the company's current price.
Other equities analysts also recently issued research reports about the stock. Oppenheimer reiterated an "outperform" rating and issued a $110.00 target price (up previously from $80.00) on shares of Lam Research in a research note on Tuesday, June 17th. Citigroup reiterated a "buy" rating and issued a $108.00 target price (up previously from $87.00) on shares of Lam Research in a research note on Monday, July 7th. UBS Group reduced their target price on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Bank of America reduced their target price on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Finally, Deutsche Bank Aktiengesellschaft set a $70.00 target price on shares of Lam Research and gave the stock a "hold" rating in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $99.14.
Check Out Our Latest Research Report on Lam Research
Lam Research Stock Performance
NASDAQ LRCX traded up $0.01 during trading hours on Tuesday, reaching $100.80. 5,214,573 shares of the company were exchanged, compared to its average volume of 12,315,237. Lam Research has a 1 year low of $56.32 and a 1 year high of $102.19. The business's 50 day simple moving average is $90.60 and its 200-day simple moving average is $80.62. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $128.93 billion, a P/E ratio of 28.09, a P/E/G ratio of 1.42 and a beta of 1.68.
Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter last year, the company posted $7.79 earnings per share. The firm's quarterly revenue was up 24.4% compared to the same quarter last year. On average, equities research analysts expect that Lam Research will post 3.71 earnings per share for the current year.
Hedge Funds Weigh In On Lam Research
Hedge funds and other institutional investors have recently bought and sold shares of the stock. One Charles Private Wealth Services LLC lifted its holdings in shares of Lam Research by 843.4% in the 4th quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company's stock worth $289,000 after acquiring an additional 3,576 shares during the last quarter. Brighton Jones LLC lifted its holdings in shares of Lam Research by 1,032.4% in the 4th quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock worth $1,025,000 after acquiring an additional 12,936 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of Lam Research by 966.8% in the 4th quarter. Proficio Capital Partners LLC now owns 36,986 shares of the semiconductor company's stock worth $2,672,000 after acquiring an additional 33,519 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Lam Research in the 4th quarter worth approximately $9,418,000. Finally, Harbour Investments Inc. bought a new stake in shares of Lam Research in the 4th quarter worth approximately $206,000. Hedge funds and other institutional investors own 84.61% of the company's stock.
About Lam Research
(
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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.
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