Lam Research (NASDAQ:LRCX) Given New $120.00 Price Target at Argus

Key Points

• Argus has raised the price target for Lam Research from $105.00 to $120.00, indicating a potential upside of 25.17% from its previous close.
• The stock is currently rated as a "buy" by several analysts, with a consensus rating of "Moderate Buy" and a consensus price target of $106.87.
• Lam Research reported earnings of $1.33 per share for the last quarter, exceeding expectations and showing a revenue increase of 33.6% year-over-year.

Lam Research (NASDAQ:LRCX - Get Free Report) had its price target increased by analysts at Argus from $105.00 to $120.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the semiconductor company's stock. Argus' target price would indicate a potential upside of 25.17% from the stock's previous close.

Other equities analysts have also issued research reports about the stock. UBS Group lifted their price target on shares of Lam Research from $95.00 to $120.00 and gave the company a "buy" rating in a report on Monday, July 21st. The Goldman Sachs Group started coverage on shares of Lam Research in a report on Thursday, July 10th. They issued a "buy" rating and a $115.00 price target on the stock. Needham & Company LLC lifted their price target on shares of Lam Research from $110.00 to $115.00 and gave the company a "buy" rating in a report on Thursday. Summit Insights downgraded shares of Lam Research from a "buy" rating to a "hold" rating in a research note on Thursday. Finally, TD Cowen raised their target price on shares of Lam Research from $100.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $106.87.

Lam Research Trading Up 1.1%

NASDAQ LRCX traded up $1.03 during mid-day trading on Friday, reaching $95.87. 8,910,990 shares of the stock were exchanged, compared to its average volume of 11,971,760. Lam Research has a 1-year low of $56.32 and a 1-year high of $102.59. The business's fifty day simple moving average is $93.65 and its 200 day simple moving average is $82.23. The stock has a market capitalization of $122.63 billion, a PE ratio of 22.99, a PEG ratio of 1.40 and a beta of 1.68. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.12. The firm had revenue of $5.17 billion for the quarter, compared to analyst estimates of $4.99 billion. Lam Research had a net margin of 29.07% and a return on equity of 59.69%. Lam Research's revenue was up 33.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 earnings per share. On average, research analysts anticipate that Lam Research will post 3.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. IMG Wealth Management Inc. acquired a new position in shares of Lam Research in the 2nd quarter valued at about $26,000. REAP Financial Group LLC acquired a new position in shares of Lam Research in the 2nd quarter valued at about $31,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of Lam Research in the 1st quarter valued at about $26,000. West Paces Advisors Inc. acquired a new position in shares of Lam Research in the 4th quarter valued at about $27,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in shares of Lam Research in the 4th quarter valued at about $27,000. 84.61% of the stock is owned by institutional investors and hedge funds.

About Lam Research

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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