Lam Research (NASDAQ:LRCX) Given New $115.00 Price Target at B. Riley

Lam Research (NASDAQ:LRCX - Get Free Report) had its price objective boosted by stock analysts at B. Riley from $95.00 to $115.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the semiconductor company's stock. B. Riley's target price points to a potential upside of 23.97% from the company's previous close.

LRCX has been the topic of a number of other reports. Evercore ISI boosted their target price on Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Barclays lowered their price objective on Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. TD Securities dropped their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on Lam Research and gave the stock a "hold" rating in a report on Thursday, April 24th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $90.00 target price on shares of Lam Research 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 given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $92.78.

Lam Research Stock Performance

NASDAQ:LRCX traded up $0.34 during midday trading on Wednesday, reaching $92.77. The stock had a trading volume of 1,127,602 shares, compared to its average volume of 12,258,178. Lam Research has a 12-month low of $56.32 and a 12-month high of $113.00. The stock has a market cap of $118.66 billion, a P/E ratio of 25.84, a P/E/G ratio of 1.32 and a beta of 1.65. 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 firm has a fifty day simple moving average of $78.22 and a two-hundred day simple moving average of $77.29.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The business had revenue of $4.72 billion during the quarter, compared to analysts' expectations of $4.64 billion. During the same period last year, the firm earned $7.79 EPS. The company's quarterly revenue was up 24.4% compared to the same quarter last year. On average, equities analysts expect that Lam Research will post 3.71 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. One Charles Private Wealth Services LLC grew its holdings in Lam Research by 843.4% during the fourth 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 period. Brighton Jones LLC increased its stake in 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 purchasing an additional 12,936 shares in the last quarter. Congress Asset Management Co. increased its stake in Lam Research by 903.7% in the 4th quarter. Congress Asset Management Co. now owns 3,764 shares of the semiconductor company's stock worth $272,000 after purchasing an additional 3,389 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in Lam Research by 695.2% during the fourth quarter. J.W. Cole Advisors Inc. now owns 3,117 shares of the semiconductor company's stock valued at $225,000 after buying an additional 2,725 shares in the last quarter. Finally, Americana Partners LLC boosted its holdings in shares of Lam Research by 599.2% in the fourth quarter. Americana Partners LLC now owns 3,426 shares of the semiconductor company's stock worth $247,000 after buying an additional 2,936 shares during the period. 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.

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