Mizuho Issues Positive Forecast for Lam Research (NASDAQ:LRCX) Stock Price

Lam Research (NASDAQ:LRCX - Get Free Report) had its price objective lifted by stock analysts at Mizuho from $100.00 to $115.00 in a report released on Monday,Benzinga reports. The firm currently has an "outperform" rating on the semiconductor company's stock. Mizuho's price target would indicate a potential upside of 14.14% from the stock's previous close.

Several other analysts have also weighed in on LRCX. Wells Fargo & Company boosted their price objective on Lam Research from $75.00 to $95.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. 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 report on Tuesday, April 22nd. Stifel Nicolaus lowered their price objective on Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Cantor Fitzgerald reissued an "overweight" rating and issued a $115.00 price objective (up from $90.00) on shares of Lam Research in a report on Tuesday, June 24th. Finally, Bank of America lowered their price objective on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $99.14.

Lam Research Stock Up 0.4%

Shares of LRCX traded up $0.39 during trading on Monday, reaching $100.76. The company's stock had a trading volume of 4,893,946 shares, compared to its average volume of 12,359,056. The company has a fifty day moving average of $90.08 and a two-hundred day moving average of $80.43. Lam Research has a twelve month low of $56.32 and a twelve month high of $102.19. The company has a market cap of $128.88 billion, a price-to-earnings ratio of 28.07, a P/E/G ratio of 1.43 and a beta of 1.68. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period in the prior year, the company posted $7.79 EPS. Lam Research's quarterly revenue was up 24.4% on a year-over-year basis. On average, sell-side analysts predict that Lam Research will post 3.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Lam Research

Several hedge funds and other institutional investors have recently made changes to their positions in LRCX. One Charles Private Wealth Services LLC boosted its position in shares of 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 buying an additional 3,576 shares during the period. Brighton Jones LLC lifted 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 purchasing an additional 12,936 shares during the period. Proficio Capital Partners LLC lifted its position in Lam Research by 966.8% in the fourth quarter. Proficio Capital Partners LLC now owns 36,986 shares of the semiconductor company's stock worth $2,672,000 after purchasing an additional 33,519 shares during the period. Natixis Advisors LLC lifted its position in Lam Research by 789.3% in the fourth quarter. Natixis Advisors LLC now owns 532,338 shares of the semiconductor company's stock worth $38,451,000 after purchasing an additional 472,477 shares during the period. Finally, Choate Investment Advisors lifted its position in Lam Research by 964.0% in the fourth quarter. Choate Investment Advisors now owns 13,002 shares of the semiconductor company's stock worth $939,000 after purchasing an additional 11,780 shares during the period. 84.61% of the stock is currently 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.