TD Cowen Forecasts Strong Price Appreciation for Lam Research (NASDAQ:LRCX) Stock

Key Points

• TD Cowen has raised its price target for Lam Research from $100.00 to $125.00, reflecting a potential upside of 26.15% from the stock's previous close and maintaining a "buy" rating.
• The company reported a strong quarterly performance with $1.33 EPS, surpassing estimates, and a revenue increase of 33.6% compared to the previous year.
• Research analysts have given Lam Research a consensus rating of "Moderate Buy", with eight holding ratings and seventeen buy ratings among the analysts surveyed.

Lam Research (NASDAQ:LRCX - Get Free Report) had its target price raised by equities research analysts at TD Cowen from $100.00 to $125.00 in a report released on Thursday, MarketBeat reports. The firm currently has a "buy" rating on the semiconductor company's stock. TD Cowen's target price suggests a potential upside of 29.71% from the stock's current price.

Several other research analysts have also recently weighed in on the stock. KeyCorp boosted their price objective on shares of Lam Research from $105.00 to $115.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. The Goldman Sachs Group started coverage on Lam Research in a research report on Thursday, July 10th. They set a "buy" rating and a $115.00 price target on the stock. Mizuho increased their target price on Lam Research from $100.00 to $115.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. B. Riley reaffirmed a "buy" rating and issued a $115.00 price target (up previously from $95.00) on shares of Lam Research in a research note on Wednesday, June 18th. Finally, Wells Fargo & Company upped their price target on shares of Lam Research from $75.00 to $95.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Seven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $107.09.

Lam Research Price Performance

Shares of Lam Research stock traded up $1.53 during midday trading on Thursday, hitting $96.37. 16,599,413 shares of the company were exchanged, compared to its average volume of 9,955,076. The firm has a 50 day simple moving average of $93.96 and a 200-day simple moving average of $82.38. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 1.64. The firm has a market cap of $123.27 billion, a P/E ratio of 23.17, a PEG ratio of 1.33 and a beta of 1.68. Lam Research has a 52 week low of $56.32 and a 52 week high of $102.59.

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

Institutional Trading of Lam Research

Large investors have recently added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC bought a new position in shares of Lam Research during the 1st quarter worth approximately $26,000. IMG Wealth Management Inc. acquired a new stake in Lam Research during the 2nd quarter valued at $26,000. West Paces Advisors Inc. bought a new position in Lam Research during the fourth quarter worth $27,000. Mpwm Advisory Solutions LLC bought a new position in Lam Research during the fourth quarter worth $27,000. Finally, Park Square Financial Group LLC bought a new position in shares of Lam Research in the fourth quarter valued at about $31,000. 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.