Lam Research (NASDAQ:LRCX) Coverage Initiated by Analysts at Erste Group Bank

Key Points

• Analysts at Erste Group Bank have initiated coverage on Lam Research (NASDAQ:LRCX), setting a "buy" rating for the semiconductor company's stock.
• Lam Research has received multiple upgrades from various research firms, including an increase of target prices to as high as $120.00 by Argus and UBS Group.
• The company reported stronger-than-expected earnings of $1.33 per share for the latest quarter, exceeding analysts' estimates and reflecting a year-over-year revenue increase of 33.6%.

Equities researchers at Erste Group Bank assumed coverage on shares of Lam Research (NASDAQ:LRCX - Get Free Report) in a note issued to investors on Thursday. The firm set a "buy" rating on the semiconductor company's stock.

A number of other equities research analysts also recently weighed in on LRCX. Wall Street Zen raised Lam Research from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Argus boosted their target price on Lam Research from $105.00 to $120.00 and gave the stock a "buy" rating in a report on Friday, August 1st. TD Securities reduced their target price on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Mizuho boosted their target price on Lam Research from $115.00 to $120.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Finally, UBS Group upped their price objective on Lam Research from $95.00 to $120.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Seven research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, Lam Research currently has an average rating of "Moderate Buy" and an average target price of $107.09.

Lam Research Price Performance

NASDAQ LRCX traded down $0.05 during trading on Thursday, reaching $106.69. 663,837 shares of the company traded hands, compared to its average volume of 11,882,808. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.55 and a current ratio of 2.21. The stock's 50 day moving average price is $96.79 and its two-hundred day moving average price is $83.51. The company has a market cap of $135.03 billion, a price-to-earnings ratio of 25.65, a P/E/G ratio of 1.36 and a beta of 1.65. Lam Research has a 1-year low of $56.32 and a 1-year high of $107.49.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.12. The company had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $4.99 billion. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The company's quarterly revenue was up 33.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 earnings per share. As a group, analysts anticipate that Lam Research will post 3.71 EPS for the current year.

Hedge Funds Weigh In On Lam Research

Institutional investors have recently made changes to their positions in the stock. Bahl & Gaynor Inc. grew its position in Lam Research by 1.9% in the 2nd quarter. Bahl & Gaynor Inc. now owns 5,602 shares of the semiconductor company's stock worth $545,000 after purchasing an additional 102 shares in the last quarter. BankPlus Wealth Management LLC grew its position in Lam Research by 2.0% in the 2nd quarter. BankPlus Wealth Management LLC now owns 5,248 shares of the semiconductor company's stock worth $511,000 after purchasing an additional 105 shares in the last quarter. ORG Partners LLC grew its position in Lam Research by 7.3% in the 2nd quarter. ORG Partners LLC now owns 1,676 shares of the semiconductor company's stock worth $162,000 after purchasing an additional 114 shares in the last quarter. Quotient Wealth Partners LLC grew its position in Lam Research by 2.1% in the 2nd quarter. Quotient Wealth Partners LLC now owns 5,437 shares of the semiconductor company's stock worth $529,000 after purchasing an additional 114 shares in the last quarter. Finally, Fairvoy Private Wealth LLC grew its position in Lam Research by 3.0% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 4,185 shares of the semiconductor company's stock worth $407,000 after purchasing an additional 120 shares in the last quarter. Institutional investors and hedge funds 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.

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