Lam Research (NASDAQ:LRCX) Now Covered by Analysts at The Goldman Sachs Group

Equities researchers at The Goldman Sachs Group assumed coverage on shares of Lam Research (NASDAQ:LRCX - Get Free Report) in a research report issued on Thursday, Marketbeat Ratings reports. The firm set a "buy" rating and a $115.00 price target on the semiconductor company's stock. The Goldman Sachs Group's price objective would indicate a potential upside of 13.79% from the company's current price.

A number of other research firms also recently commented on LRCX. Stifel Nicolaus reduced their target price on Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Argus raised Lam Research to a "strong-buy" rating in a research report on Friday, April 25th. Jefferies Financial Group boosted their price objective on shares of Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, March 28th. Morgan Stanley raised their price target on Lam Research from $82.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $115.00 price objective (up from $90.00) on shares of Lam Research in a research note on Tuesday, June 24th. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lam Research presently has a consensus rating of "Moderate Buy" and an average target price of $97.48.

Lam Research Stock Performance

Shares of LRCX stock traded up $1.25 during midday trading on Thursday, hitting $101.06. The company had a trading volume of 6,568,595 shares, compared to its average volume of 12,362,125. The stock has a market cap of $129.27 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 1.41 and a beta of 1.68. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. The company's 50 day simple moving average is $87.37 and its 200 day simple moving average is $79.49. Lam Research has a 52-week low of $56.32 and a 52-week high of $113.00.

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 for the quarter, beating 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 firm had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period last year, the firm posted $7.79 EPS. Lam Research's quarterly revenue was up 24.4% on a year-over-year basis. 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. One Charles Private Wealth Services LLC boosted its stake in Lam Research by 843.4% during the 4th quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company's stock valued at $289,000 after purchasing an additional 3,576 shares during the period. Brighton Jones LLC grew its position in Lam Research by 1,032.4% in the fourth quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock worth $1,025,000 after buying an additional 12,936 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in Lam Research by 966.8% during the fourth quarter. Proficio Capital Partners LLC now owns 36,986 shares of the semiconductor company's stock valued at $2,672,000 after buying an additional 33,519 shares in the last quarter. AlphaQuest LLC increased its position in shares of Lam Research by 182.0% in the fourth quarter. AlphaQuest LLC now owns 4,354 shares of the semiconductor company's stock worth $314,000 after acquiring an additional 2,810 shares in the last quarter. Finally, Independent Advisor Alliance raised its stake in Lam Research by 1,402.7% during the 4th quarter. Independent Advisor Alliance now owns 35,930 shares of the semiconductor company's stock valued at $2,595,000 after purchasing an additional 33,539 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

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.